Tax Return

Do You Need To File a 2022 Tax Return?

Most people file a tax return because they have to, but even if you don’t, you might be eligible for a tax refund and not know it. The tax tips below should help determine whether you must file a tax return this year. General Filing Rules Whether you need to file a tax return depends […]

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tax

5 Basic Tax Terms

1- Gross Total Income – The process of filing tax returns begins with the computation of your Gross Total Income (GTI). GTI includes salary income; income from house property; profit and gains of business & profession; capital gain and income from other sources. These are computed after adjusting for the relevant exemptions under each head, […]

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10 jobs of an accountant

10 jobs of an accountant.  Specialties to consider With so many different facets of accounting, you don’t have to lock yourself into a single career path before pursuing your degree. The knowledge and training you receive in the classroom will likely help you home in on an area of interest. But until then, these brief […]

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Balance Sheet

What is the Balance Sheet

The balance sheet displays the company’s total assets and how the assets are financed, either through either debt or equity. It can also be referred to as a statement of net worth or a statement of financial position. The balance sheet is based on the fundamental equation: Assets = Liabilities + Equity. The assets and […]

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Taxpayer rights

Taxpayer Rights

Your Rights as a Taxpayer 1- The Right to Be Informed Taxpayers have the right to know what they need to do to comply with the tax laws. They are entitled to clear explanations of the laws and IRS procedures in all tax forms, instructions, publications, notices, and correspondence. They have the right to be […]

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new business

TIPS FOR NEW BUSINESS

Your business structure How to form your business effectively is not an easy task for any business owners. Legal protection, tax advantages, and financial expectation are the key factors that could significantly affect your business for many years to come. The business structure you choose influences everything from day-to-day operations, to taxes and how much […]

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Tax Return

What Is a Tax Return?

A tax return is a form or forms filed with a tax authority that reports, expenses, income and other pertinent tax information. Tax returns allow taxpayers to calculate their tax liability, schedule tax payments, or request refunds for the overpayment of taxes. In the United States, tax returns are filed with the Internal Revenue Service […]

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