How to dodge Labour’s double tax attack on pensions
The main purpose of a pension fund is to provide you with a comfortable retirement for your life and that of your spouse or partner so that you do not become a burden on others or indeed the state. Once this is secured, it becomes safer to make lifetime gifts to your children, the main […]
Senior Citizen Savings Scheme: How to save TDS on SCSS interest income
Senior Citizen Savings Scheme (SCSS) is an attractive scheme for senior citizens which offers 8.2% interest for the July-September quarter. An individual can invest up to Rs 30 lakh in SCSS. Interest earned on the SCSS investment is taxable per the investor’s income tax slab. TDS is also deducted if the interest received from the […]
How to spend €14.1B windfall from Apple – POLITICO
And finally in 2021, as the administration of Joe Biden and the Organization for Economic Cooperation and Development jointly pushed to force low-tax jurisdictions such as Ireland to raise their rates closer to international norms in the mid-20s, the Irish held out until they won a commitment to cap that increase at 15 percent. That […]
How to report non-deductible expenses?
As the clock ticks down to May 31, the first fiscal year of corporate tax will roll over into the second fiscal year. So, how should you be preparing your financials to report to the Federal Tax Authority? Will it be just the entity’s financials that you’ll be reporting? There’s a lot we don’t know, […]
Paying your dues in the UK: How to save money on taxes
Schemes such as the Married Couple’s Allowance and pension tax relief could help UK taxpayers save money. ADVERTISEMENT While taxes may be an inevitable, if somewhat tedious part of our lives, nobody wants to be paying more than necessary. Although the UK has relatively lower tax than several European countries, with the cost of living […]
How To Navigate Tax Season And Beyond With Ease–Introducing Our New Tax Breaks Newsletter
business woman coffee break getty The IRS expects more than 128.7 million individual tax returns to be filed by the April 15, 2024 tax deadline. That’s significantly more than the 357,598 tax returns filed in 1913, the first filing year under our modern income tax system. The tax code has only become more complex since […]
Are you saving enough for retirement? How to overcome the hurdles that prevent you from investing for this crucial goal
Can you save more than you earn every month? That’s what Shriya Nagarajan must do if she wants to quit working at 50 and maintain her current lifestyle in retirement. The 25-year-old needs a corpus of Rs.10.5 crore to sustain inflation-adjusted withdrawals till the age of 85. To build this enormous nest egg, Nagarajan needs […]
How to calculate tax on inherited property?
There are 14 legal heirs to my grandfather’s residential property. Twelve of them will waive their rights to the property. Instead, those rights will be passed on the son of my late uncle and me. To facilitate this transfer, we will each make a payment to the other heirs and then sell the property. We […]