Trusts were traditionally businesses with significant market power. However, this term has gained several new meanings in modern economics. Here is what you need to know: A Trust Explanation: A trust for a business’s purposes is a legal entity, which can be a company or person that can manage, and administer another company’s assets. The… Continue reading What Is A Trust?
A company always ensure that it pays the correct but minimum amount of tax possible. Getting a corporate tax return wrong can end in penalties.The entire process of tax return and legislation is complicated. As Benjamin Franklin said “tax is one of the perpetual certainties of life’. None of us are totally unaffected by taxation.… Continue reading Top Five Tips to Save your Business Tax
For most people, the tax season is a headache-inducing time of the year. Aside from the tons of computation that one has to do, an individual would also have to make sure that they fill their forms properly and have the needed attachment in place. Although this might be of little concern to people who… Continue reading Choosing Someone To Do Tax Preparation
With the globe still struggling to recover from the worst recession since World War II and elections occurring in Europe and the USA, taxes have once again become a hot topic of conversation as many countries propose further rises. But which countries currently have the highest income tax rates? 5. Japan, Belgium, Austria, UK (tied)The… Continue reading The countries with the world’s top 5 highest income rates
The Indian tax system can be very complex, but for a clearer understanding, we can break it down into simple elements that make up one’s personal income: a) Salary from an Employer. b) Rental (house property) income c) Capital gains (gain or losses made by the buying and selling of Shares and other capital assets)… Continue reading Overview of the Indian Tax System