Everyone dreads having to pay their fair share of federal taxes, but there are some multi-million dollar companies that do not pay a dime in taxes. Some of the wealthiest companies have not had to pay federal taxes in years, and 2018 was no exception. Some of the top companies, like Amazon, Alaska
How Would Universal Income Impact Taxes?
In the upcoming 2020 election, a debate topic is going to be the concept of universal income. If you're new to the idea, there's a myriad of different variations, but the core concept is the government would provide basic income for everyone to cover your finances (or most of your monthly finances).
Seattle Searching for Tax Cuts & Hikes
The city of Seattle is looking for ways that it can use taxes to benefit everyone in the city limits, and they have brought forth some proposals that will help the city build a more efficient government. Plus, the city wants to be sure that they can serve the whole population by making these changes
4 Things Your 2018 Tax Return Taught You
Filing Your TaxesThe deadline for filing taxes was April 15th, 2019 and most individuals have already filed their fees. The tax period is over and you can go back to handling your finances properly in preparation for the next tax season in 2020. Unfortunately, putting taxes at the back of your
Repairs and Improvements to Your Rental Property
When you own property, making repairs and improvements is necessary as the appliances and furniture will become worn, stained or outdated. However, the IRS provides an opportunity for property owners to deduct expenses used on the yearly income tax depending on the type of renovation. The IRS
What Is Considered Taxable Income?
Taxable income is anything that you cannot deduct, cannot shield from taxes, and was earned through a non-exempt job. There are a few things you need to talk to your accountant about during the tax season, and taxable income is perhaps the most important of all these things. 1. What Is Taxable
Should I File An Extension?
The deadline for filing taxes is quickly approaching. There are many reasons people miss the deadline for filing taxes and the IRS, in most cases, understands this; it's why they have the Form 4868 available. If a person is unable to complete their taxes by April 15 then they can request a six month
How much should I save if I’m 1099?
There are a number of benefits to working for yourself. Being able to control your income, being able to work when you want to and having to answer to no one are big reasons why people opt to work for themselves. But with the sweet comes some of the sour and one of the difficult parts of owning your