Small Business Tax – What You Can & Cannot Deduct

If you run your own business, paying tax is something that cannot be avoided, yet with expert help in the form of an experienced accountant, your tax bill can be significantly lowered. Of course, the average person would not know what can be deducted and what cannot, and with that in mind, here is a list of items that a small business can claim tax deductions for. Home Office – More…

Read More

Outlining the Key Differences between Wills and Trusts

Outlining the key differences between Wills and Trusts, two documents which are often misinterpreted as the same because they are both used for outlining a person’s wishes regarding the distribution of his or her estate after death. The primary difference between the two is that a Will is not enacted until the person’s death, whereas a Trust takes effect from the moment that it is signed. There are other significant…

Read More

Advantages of 2018 Tax Return Online

What is Tax? Tax is the money that the government takes from the people in order to maintain the infrastructure of the country and for the welfare of the people. In order to do so, several types of taxes are taken from the people. The ones that we pay on a regular basis are the goods and services tax. Basically, when we buy anything from anywhere including goods like food,…

Read More

A Comprehensive Look at Estate and Gift Tax Laws

Image Source: burst.shopify Estate Taxes and Gift Taxes.  What’s the difference between the two? In simplest terms, the Estate Tax is levied on money or property received from a person who has died. The Gift Tax is levied on money or property that is received from a living person. Both have available exemptions, and the eligible minimum estate/gift values increase every year to compensate for annual inflation. What Are the Estate…

Read More