A recurring question each tax season centers on financial gifts; what they are and how they are taxed. Gifting money, property, or valuables to your friends and loved ones can be complicated if your gift exceeds certain monetary limits. Once your gift has exceeded these limits, it becomes subject to…
President Trump recently announced new tariffs on imports of steel and aluminum, in a move that got mixed reviews from business and political leaders. The new tariffs would increase levies on aluminum by 10 percent and steel by 25 percent. There is much debate about the sensibility of these tariffs,…
Benjamin Franklin famously said, "In this world nothing can be certain, except death and taxes." What we can also be certain of is that strange, sometimes archaic taxes will always endure. For whatever reason, the following tax laws still exist, and they continue to bewilder the average taxpayer. (See also:…
Though it may seem unthinkable to U.S. citizens, there are many countries all over the world that offer residents the benefit of no, or very low, income taxes. But before you start packing your suitcase and heading overseas for a tax-free life, keep in mind that U.S. taxation is based…
Benjamin Franklin once famously said, "In this world, nothing can be said to be certain, except death and taxes." You might assume that by no longer living in the U.S. you’ve defied the tax half of this statement. That even if you have not yet cracked the secret to everlasting…
We often exaggerate the phrase, "My worst nightmare," but when it comes to getting audited, it’s true. Audits are many people’s worst nightmare — but they don’t automatically have to mean financial disaster. To help navigate the unwelcome process, consider these important steps to take as suggested by tax professionals….
Tax season is upon us, which means millions of Americans will be stressing out about filing their IRS forms correctly and whether they will receive a refund this year. But just because getting ready for Tax Day can be emotionally taxing (see what I did there?) doesn’t mean it has…
Imagine having years of punishing credit card debt canceled and gaining the clean slate you’ve always wanted. Then, out of nowhere, you receive a form in the mail that says you actually owe money for having that debt wiped away. That situation happens all the time to consumers who have…
No doubt about it, being a freelancer is hard. From serving clients to staying on top of your money game, there’s no shortage of work to do. Sometimes, things may be overlooked or set on the back burner while you tackle pressing business matters. However, there is one major thing…