When it comes to taxes, children are typically in lower income tax brackets in the USA. That is why many wealthy parents would shift income-producing assets to their children’s names to avoid paying taxes at their top marginal tax rates, up to 37%. But the Tax Reform Act of 1986 changed it all. The newContinue reading “What Is Kiddie Tax And How To Avoid It?”
Category Archives: Accounting
Qualified Opportunity Fund Investment: All You Need To Know
A Qualified Opportunity Fund (QOF) is an investment vehicle created as part of the Opportunity Zone program, which was established by the U.S. government in 2017. The qualified opportunity zone program aims to promote economic development and job creation in designated low-income communities, known as Opportunity Zones. In addition, the Qualified Opportunity Fund Investment isContinue reading “Qualified Opportunity Fund Investment: All You Need To Know”
Individual Tax Planning, 2023
Tax planning is a vital tool for managing your financial landscape. It’s not just about reducing your tax liability for the current year but also about planning for future years. Understanding the nuances, such as the timing of income and deductions, can lead to significant tax savings. What is Tax Planning? Tax planning is theContinue reading “Individual Tax Planning, 2023”
A Tax Planning Guide For Freelancers And Gig Workers
In today’s time, the workforce is changing continuously. Today, many individuals want the flexibility to live life as they want and for this, they are going for freelance and gig work. But along with this freedom, they also have to take the responsibility of managing their personal finances and tax planning. However, freelancers and gigContinue reading “A Tax Planning Guide For Freelancers And Gig Workers”
Know More About G&S Accountancy Inc. & Its Phenomenal Services
Accountancy services are too crucial for small-scale businesses. These services lead small-scale firms to a better side. Companies unable to handle accounts, taxes, etc., can contact local CPA for small business. These local CPA services deliver better than expected. Therefore, they are worth contacting. G&S Accountancy Inc. is one find service that you can alwaysContinue reading “Know More About G&S Accountancy Inc. & Its Phenomenal Services”
How G&S Accountancy Inc. Can Help Your Small Business Succeed
Small businesses face unique challenges when it comes to accounting and financial management. From bookkeeping to tax planning to financial reporting, many tasks can be overwhelming for a small business owner. That’s where G&S Accountancy Inc. comes in, offering a wide range of accounting services tailored specifically to small businesses. From small business bookkeeping services to taxContinue reading “How G&S Accountancy Inc. Can Help Your Small Business Succeed”
Early Tax Preparation And How You Can Benefit from It?
Tax is a financial obligation imposed by the government on individuals and businesses to fund government services and programs. It is a compulsory payment that must be paid by all citizens and businesses that meet the criteria established by the government. Taxes can be levied on income, property, goods, and services. It is important toContinue reading “Early Tax Preparation And How You Can Benefit from It?”
How A Local CPA Can Help Grow Your Small Business
Are you a small business owner? If yes, you must have the right team to support you because there are various financial aspects that you need to take care of when you have a small business. Hence, you must work with a local CPA for small business. They can provide you with a variety ofContinue reading “How A Local CPA Can Help Grow Your Small Business”
5 Reasons Why Trucking Companies Should Invest in Accounting Services
Trucking companies are the backbone of the transportation industry. Transporting goods across the country and making sure our economy runs smoothly is their critical function. However, managing a trucking company is not easy, and it requires attention to a variety of details, including finances. That’s why trucking companies should invest in trucking company accounting toContinue reading “5 Reasons Why Trucking Companies Should Invest in Accounting Services”
Why Are Small Business Bookkeeping Services Crucial?
Account management and tasks related to finances are complex. Individuals often get confused in this matter. And when they have to handle a business’s financial tasks, things become more complex. In these situations, small business bookkeeping services can help overcome the situation. Here are a few services that businesses get from these firms. Reconciling WithContinue reading “Why Are Small Business Bookkeeping Services Crucial?”
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