It’s no secret that tax law in the United States is extremely confusing. Even the length of the official tax code is subject to wild speculation; people estimate it to be somewhere between 2,500 pages and four times the length of the complete written works of Shakespeare. As a result of this confusion, many people
Category: Tax News
Tax Avoidance By The Numbers: The Paradise Papers
Here’s a quick riddle for you: what do Donald Trump’s son-in-law, Shakira, and Queen Elizabeth II have in common? All of them are mentioned in the Paradise Papers! This 1.4-Terabyte treasure trove of financial documents contains details about some of the world’s wealthiest people. The list of hundreds of people whose confidential transactions have been
Small Business Tax Deductions In 2021
Although most small business owners realize that income tax is a necessary evil, they would love to find small business tax deductions and other ways to cut down their tax bill. Fortunately, this is perfectly legal and there are tons of ways to effectively do this!
Deep Dive: Ponzi Schemes, Then and Now
Ponzi schemes will never die, because there will always be people who want the rewards without the work. Here’s what we’ve learned over the last 100 years:
Breakdown: Coronavirus Tax Breaks for US Citizens
The novel coronavirus COVID-19 shocked the entire world this year, having monumental ramifications for governments and businesses on a global level. It’s a constantly developing situation with new information coming in every day— some rendering previous information obsolete.
Deep Dive: Recreational Marijuana Tax Revenue in the United States
Reframing the marijuana debate around its merits as a tool for government funding has been extremely helpful for the pro-legalization cause, and it’s led many states to experiment with legalization. But has this actually led to economic growth, and what does this mean for the future of marijuana legalization in the country?
Breakdown: Taxes For Freelancers
These days, more and more people are freelancing. Of course, freelancers — like everybody else — have to pay tax on their income. However, gig workers enjoy several distinct advantages over regular employees.
Income Tax Time Capsule: 2009 vs. 2020
What was the tax reform conversation like ten years ago compared to today? Take a look and find out who’s really paying the bulk of taxes!
Deep Dive: Celebrity Tax Evasion
Learn about the most interesting cases of celebrity tax evasion and tax fraud, including Wesley Snipes, Martha Stewart, Ja Rule & more!
Small Business Accounting Cheat Sheet
Read this if you’re running a small business in 2019! Learn more about small business accounting and SAVE $$$