Taxes

How to use tax refunds wisely

Tax refunds are the amount the government pays back to a business or individual when the tax paid is found to be higher than the actual tax amount that they are liable to pay. Most people look forward to this annual payout as a bonus that is a bit of extra money or disposable income […]

Taxes

Important facts to know about income tax

Income tax is the principal source of revenue for the federal government. It is administered by the IRS or the Internal Revenue Service, and almost all citizens of the country are required to file a tax return every year with the IRS and pay taxes throughout the year. These taxes are in the form of […]

Taxes

Know about tax refunds and benefits

As responsible citizens of the country, one is entitled to perform a list of duties. A country can perform effectively only when these duties are executed adequately. One should remember that every step taken by local, state, and federal governments requires funds. The country has a pre-decided percentile of tax that needs to be paid over […]

Taxes

Municipal bonds – How are they taxed

Bonds are a type of debt obligation issued by corporations or government agencies. In simple words, it is a loan that an entity needs to raise money for new projects, sustain existing operations, or pay off any debts. So, if an organization issues a bond to an investor, they are borrowing money from them which […]

Taxes

Reduce your tax liability using tax benefits

Time to file your tax returns? Make it a happy exercise by using tax benefits to bring down the taxable amount. You can use deductions, exemptions, and tax credits to legally reduce your income tax liability. Reduce your tax liability Your task of filing taxes becomes easier if you keep a record of all your […]

Taxes

Tax regulations on different types of bonds

Adding bonds to your investment portfolio can be a smart move, mainly because of two reasons. First, bonds can bring stability to your portfolio if it mainly comprises of volatile stocks. Second, bonds offer a regular source of income. But like any other form of investment, bonds are not perfect, especially when it comes to […]

Taxes

Things to consider before choosing tax bonds

Taxable bonds are investments whose returns are taxed at either the federal, state, or local levels. Tax bonds are a great way to earn money for experienced investors and those trying their hands at investing for the first time. They offer less risk than other options such as the stock market or mutual funds. If […]

Taxes

Things to know while filing income tax

Filing income tax is an obligation of every law-abiding citizen. Whether you are a working adult, a homemaker, a student, or a retiree, it is always good to be knowledgeable about your taxes. Here are some things that you should be aware of while filing income tax: E-filing works best E-filing income tax can save […]

Taxes

Top differences between direct and indirect tax

Tax is what people call a financial obligation. It is a fee that is charged by the government and is applicable on income, goods, services, and other activity. The reason tax is charged is because it is the main source of revenue for the government. They are broadly categorized into two main forms: direct taxes […]

Taxes

Types of direct and indirect taxes

The study of direct versus indirect tax is an extremely important part of economics. Both direct and indirect taxes have various different types under their respective classifications, and this article lists some of them. Types of direct and indirect taxes Direct taxes are paid directly to the government by an individual or an organization, and […]