Tax

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

Do you want to know How do tax write-offs work for LLC? While operating your own business can be rewarding, expanding your limited liability company (LLC) can incur significant costs.  Advertising and promotional expenditures, legal fees, and startup costs can accumulate over time.  Thankfully, straightforward methods exist to decrease these expenditures and preserve your diligently

Do you want to know How do I prove mileage for taxes? My own experience shows that utilizing a computer spreadsheet, a paper mileage notepad, or a mileage monitoring app like Drivers Note are all viable choices.  The paper-and-pen approach was the sole way to log miles for a long time, but these days, most

Do you want to know How to increase my tax refund? A tax refund is a discrepancy between the amount paid in taxes during the year and the amount owed upon filing the tax return.  Consider the following example: You will receive a refund of $1,750 if you withhold $10,250 from your paychecks in 2022

Do you want to know if a tax write-off means you get the money back? Considering my personal experience, A tax write-off is not a phrase the IRS uses; instead, it is slang for a tax deduction.  Put differently, a tax write-off can be any cost deductible on an individual or corporation tax return.  However,

Would you want to know if write-offs lower your tax bracket? According to my experience, understanding your tax bracket and where you belong inside that tax bracket is critical to determining how much tax you must pay.  Whatever your tax rate, knowing what tax deductions and write-offs are available to you can help you save