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Taxes

13 posts

Taxes are mandatory payable by individuals or corporations by a government. The tax is collected by the government and used for government activities which include public works and services such as roads and schools, or programs such as Social Security and Medicare. There are several types of taxes such as income tax, payroll tax, corporate tax, sales tax, property tax, tariff, estate tax. For most governments, taxes are the primary source of revenue. Collected taxes are spent to improve and maintain public infrastructure. In the United States, tax rates from 10% to 37%, the rate of tax is determined on the income of the person, taxation progressively increases with growing income. Taxes are applied in various ways such as business income, cost of goods sold, operating expenses (vehicle and transportation, studio supplies, business use of home expense, amortization of your equipment). It is important for taxpayers to understand the triggers of the tax situation in order to reduce taxes. There are two estate taxes that you need to be worried about, they are federal level and at this point in time 11.2 million dollars means you don’t pay any taxes unless your assets are over 11.2 million dollars, so everything under that you are free.

FFinanceTaxes
Make Money Fast in 2023
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  • 5 minute read

How to Make Money Fast in 2023 – Income Streams Online

  • byGeneva Lunch
  • January 21, 2023
Are you looking for ways to make money fast in 2023? With the current economic climate, it’s no…
TTaxes
Underpayment Penalty For Taxes
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  • 4 minute read

What Exactly Is An Underpayment Penalty For Taxes?

  • byGeneva Lunch
  • January 4, 2023
A person or taxpaying business organization may be subject to an underpayment tax penalty if they fail to…
TTaxesFinance
IRS Debt
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  • 3 minute read

Everything You Need to Know About The IRS Debt Forgiveness Program

  • byGeneva Lunch
  • December 27, 2022
Finding ways to build wealth is something most people are passionate about. The more money you make in…
TTaxes
Tax Relief Services
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  • 3 minute read

Why Should You Rely on Tax Relief Services?

  • byGeneva Lunch
  • December 1, 2022
Tax is an enormous burden for businesses; the bigger the company, the larger the amount to be paid.…
BBusinessLawTaxes
Business Legal Structures
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  • 4 minute read

Business Legal Structures: Types And Tax Implications

  • byGeneva Lunch
  • December 1, 2022
Starting a business is exciting but also an exhausting venture. And while you may be too focused on…
TTaxesReal Estate
Paying tax
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  • 2 minute read

A Guide To Paying Tax On Your Property

  • byGeneva Lunch
  • November 24, 2022
Regardless of whether you have recently bought your very first property or have been living in the same…
GGamblingTaxes
Gambling Taxes
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  • 8 minute read

States That Benefited From Gambling Taxes the Most in 2022

  • byGeneva Lunch
  • October 6, 2022
The taxes casinos pay to states can be confusing, as every state has regulations. Compounding this confusion is…
TTaxes
Tax debt relief
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  • 2 minute read

Is it Easy to Get Tax Debt Relief?

  • byGeneva Lunch
  • September 17, 2022
Have you received a letter, phone call, or even a personal visit from a nasty tax collector? While…
TTaxes
Tax strategies
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  • 3 minute read

Tax Strategies 101: Why You Should Hire a Pro

  • byGeneva Lunch
  • August 15, 2022
Tax strategies each year aren’t just about deductions. Any tax planning needs to keep in mind the tax…
TTaxes
Is there going to be another stimulus check
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  • 8 minute read

Is There Going To Be Another Stimulus Check?

  • byGeneva Lunch
  • November 16, 2021
When you ask the question is there going to be another stimulus check, an official answer has been…
TTaxes
4th stimulus check
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  • 8 minute read

Everything About The 4th Stimulus Check

  • byGeneva Lunch
  • November 11, 2021
You may have heard about the stimulus checks. A stimulus check is a financial support in the form…
TTaxes
Fourth stimulus check update
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  • 8 minute read

Fourth Stimulus Check Update

  • byGeneva Lunch
  • October 31, 2021
There has been news about the fourth stimulus check update for a while now but it’s been two…
TTaxes
Irs tax fourth stimulus checks
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  • 8 minute read

IRS Tax Fourth Stimulus Checks – Latest Update

  • byGeneva Lunch
  • October 16, 2021
The US government issues a stimulus check to a taxpayer as an extra payment designed to boost the…

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