Tax

Do you want to know What itemized deductions are allowed in 2024? From what I’ve seen, when you file your taxes every year, you can either take the standard claim or list all of your expenses.  The standard deduction is a set amount that you can take out of your taxed income every year.  This

Do you want to know the new child tax credit for 2024? According to my personal experience, the Internal Revenue Service of the United States Government has established the Child Tax Credit 2024, which entitles eligible citizens to receive the Child Tax Benefit 2024 for each child.  If you are aware of this information but

Do you want to know what the biggest tax return ever is? In my experience, the largest tax refund request was for $94 million.  However, as you continue reading, I will provide additional information regarding the strategies employed by small business owners and freelancers to reduce their tax liability and the largest tax return ever

Do you want to know What happens if you write off too much on taxes? My experience tells me that whether you work for yourself or someone else, you most likely have a few major monthly costs.  If a friend or business colleague has ever mentioned “writing off” a cost, they are most likely referring

Would you want to know What a 20% tax write-off is? According to my observations, pass-through owners who meet the requirements can lower their effective income tax rate by 20% by deducting up to 20% of their net company income from income taxes.  Another thing to remember about tax deductions is that they are only

Would you want to know What expenses can I claim on tax? Years ago, I had a similar circumstance and was still determining which costs to include on my tax return.  Thankfully, I was able to identify one of the most dependable solutions, which I will demonstrate to you shortly.  Here are a tonne of

Do you want to know the cons of an LLC tax? Based on my experience, The formation of a business entity involves the selection of an LLC by the majority of proprietors.  However, each business has unique requirements, conditions, and objectives. For some business proprietors, there might be a better organizational structure than an LLC. 

Is it better to buy a car through my business due to tax? Based on my own experience, the answer to this question rests on your budget and, more importantly, whether you plan to use the car for personal trips as well.  A limited company must think about the tax effects of every choice it

How much will I get back in taxes if I make 15000? According to my personal experience, individuals earning ₦180,000 annually while residing in Nigeria are subject to a tax of ₦30,177.  Consequently, your annual net income will amount to ₦149,823, which is equivalent to ₦12,485 per month.  Both your marginal tax rate and average