Latest Updates Around The World
ALBANY — Mayor Zohran Mamdani told state lawmakers Wednesday that the only way out of the city’s $12 billion budget deficit is to raise taxes on the wealthy. Hizzoner, during his first Tin Cup Day in Albany, formally called on the state Legislature to increase income taxes by 2% on people making more than $1 […]
Change your tax residence Canadian residents must report their ‘world income’ in Canadian funds. When they become non-residents, they must file a final tax return from the date of emigration to declare income for the period of stay in Canada and, in some cases, pay a departure tax. Tax Form Filing Requirements To begin with, […]
A number of tax changes as part of the Big Beautiful Bill of 2025 could have a major impact on your returns, in some cases leading to higher refunds and deductions. According to the impartial Tax Foundation“refunds will be larger than normal in the upcoming filing season due to the One Big Beautiful Bill Act […]
Rental income When you earn rental income, you report it on your personal tax return on form T776 Statement of Real Estate Rentals. You can claim rental costs to reduce your taxable rental income. Common expenses include: Advertisement Insurance Mortgage interest Legal and accounting costs Management costs Condo Fees Repairs and maintenance Property taxes Utilities […]
When your company owes you money If you personally pay the costs on behalf of your company, it will owe you these personally paid business costs. You can be reimbursed tax-free. If you deposit money into your company, the same situation applies: you get money back tax-free. This situation can arise if you need to […]
The opinions of contributing entrepreneurs are their own. </p><div> Key Takeaways Understanding and avoiding common tax pitfalls can help entrepreneurs significantly reduce financial burdens as their business grows. Personal and business expenses should be kept separate to minimize audit risks, and employee classification should be accurate to avoid costly tax penalties and legal issues. Investing […]
The opinions of contributing entrepreneurs are their own. </p><div> Key Takeaways Additional tax credits and deductions are available for small businesses to provide child care benefits and paid family and medical leave. Changes in taxes on overtime and tips can affect your administration and payroll deductions. Some changes are retroactive to January 1, 2025. With […]
The opinions of contributing entrepreneurs are their own. </p><div> Key Takeaways Recent federal tax changes are reshaping the energy landscape in ways that could materially impact how entrepreneurs plan investments and manage costs. As existing incentives shift, business owners face a shrinking window to reassess their strategies and adapt to a new policy environment. Recent […]
The opinions of contributing entrepreneurs are their own. </p><div> Key Takeaways New tax law updates make the fourth quarter a crucial time for entrepreneurs to reassess how their businesses are structured and taxed. Strategic year-end planning around withholdings and state taxes could yield significant savings if reviewed before the calendar closes. The clock is ticking […]
Through Well, Abdur-Rahman December 21, 2025 Joshua will have to pay both US and UK taxes on his $140 million prize money. Anthony Joshua could lose millions despite his knockout victory in a boxing match against Jake Paul. The esteemed fighter came out on top in his December 19 fight against the influencer-turned-boxer. However, Joshua […]
