once a tax year is adopted, the business must continue using it unless it receives permission from the IRS to change. If it changes to a tax year that differs from a calendar year, it is adopting a fiscal year.
LISA GREENE-LEWIS: Right. That deadline is October 17th this year. TRACY BYRNES: So you have six months if indeed you need to extend your tax return. As always know the money is due even though the return can be extended, right?
If you don't think you'll be able to have your tax return complete by then, you may be able to file for an extension until October 15, 2025. Important: This is only for your tax return. Any taxes you owe are still due by April 15, 2025. Unpaid balances may be penalized and accr...
Goods and Services Tax (GST) Additionally, Singapore Customs collects GST on all imports into the country regardless of their value. Currently, the GST rate is 8%. However, this rate will subsequently increase to 9% in 2024. Shipping Regularly for Business ? Enjoy Up to 64% Off on Global...
Urban, Michael A
Learn seven great tax deductions you may be able to use if you’ve bought or sold a home this year. Owning a home means you may be eligible for deductions and credits for origination fees, mortgage interest, property taxes, and more.
Let's say you bought a $200,000 home, put down 5%, and paid $1,500 in PMI premiums over a year. If your adjusted gross income (AGI) is $100,000: If you're in the 12% tax bracket: You save $180 ($1,500 x 12%).
Due to Federal Emergency Management Agency (FEMA) declared natural disasters or other widescale emergencies, the IRS provides automatic tax filing relief via postponing various tax filing and payment deadlines during the tax year. At this stage the IRS is providing tax relief...
Don't assume filing jointly is always the best option. Carefully consider how either status will affect your tax situation and do the math before you choose. What are the benefits of filing jointly? Filing jointly can help married couples save money on their taxes in the following ways: ...
If you’re self-employed or earn certain types of income, there’s a good chance you’ll need to pay estimated taxes. That’s because the U.S. tax system is a pay-as-you-go model: You’re meant to pay taxes as you receive income throughout the year. ...