Estimated tax is the method used to pay tax on income that is not subject to withholding. This includes income from self-employment, interest, dividends, alimony, and rent and gains from the sale of assets, prizes, and awards. You also may have to pay an estimated tax if the amount of income tax being withheld from your salary, pension, or other income is not enough. Here’s what you should know about estimated tax payments: Continue reading
What are Estimated Tax Payments?
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Taxpayers who relinquish citizenship without complying with their U.S. tax obligations are subject to the significant tax consequences of the U.S. expatriation tax regime. If you’re an expat who has relinquished–or intends to relinquish–your U.S. citizenship but still has U.S. tax filing obligations (including owing back taxes), you’ll be relieved to know there are IRS procedures in place that allow you to come into compliance and receive relief for any back taxes owed. Let’s take a look: 
One of the most important questions you face when changing job is what to do with the money in your 401(k) because making the wrong move could cost you thousands of dollars or more in taxes and lower returns. 
Selling a small to medium-sized business is a complex venture, and many business owners are not aware of the tax consequences. 
Are you approaching retirement age and wondering where you can retire to make your retirement nest egg last longer? Retiring abroad may be the answer. But first, it’s important to look at the tax implications because not all retirement country destinations are created equal. 
Many parents are looking for ways to save for their child’s education, and a 529 Plan is an excellent way to do so. Even better is that thanks to the passage of tax reform legislation in 2017, 529 plans are now available to parents wishing to save for their child’s K-12 education, as well as college (two and four-year programs) or vocational school. 
Earlier is better when it comes to working on your taxes, but many people find preparing their tax return to be stressful and frustrating and wait until the last minute. Complicating matters this year is tax reform and the newly-redesigned Form 1040. If you’ve been procrastinating on filing your tax return this year, here are eight tips that might help. 
While the 2020 tax filing season promises to be less confusing than 2019, there are still a number of changes that taxpayers should be aware of. 
Many people assume tax planning is the same as tax preparation but the two are actually quite different. Let’s take a closer look: 