The X-Curve Guide For Wealth Creation
The X-Curve Concept Important For Creating Wealth is a proposal that defines the relationship between one’s financial responsibility and the ability to become wealthy. The simple explanation claims the theory that as one ages, the personal financial responsibilities decrease while the wealth potential increases. …
How Long can the IRS Collect from You?
One of the most common questions I am asked by taxpayers is “How long can the IRS try to collect my taxes?” It’s a good question, and one that would seem to have a quick, easy answer. — It doesn’t. As a tax attorney, I say “it depends” to a client at least once a day. I didn’t appreciate the response in law school when my professors said it, and my clients don’t appreciate it now when I say it. Unfortunately, for most lawyers “it depends” is about as automatic…
Can the IRS Take Your Passport?
Did you know that the U.S. government has the ability to deny, limit, or revoke your U.S. passport if you have substantial tax debt? In this article, we take a 10,000 foot view of the passport certification process, how to avoid it (pay your damn taxes), and what to do if your passport is affected. — The Stuffed Owl Paradigm When my son was two, his grandmother gave him a stuffed owl. Not a particularly creative toddler, he named the little owl Stuffy, and the name has stuck to this day. He takes the damn owl everywhere, which has, naturally, led to many a calamity when Stuffy is inevitably misplaced.
How Social Media Influencers are Taxed
Being a social media “influencer” or whatever the heck a “content creator” is can be a lucrative endeavor, but are all those “gifts” you receive or feature in your selfies taxable? — Harsh Truths Influencers have it really hard to begin with, and I don’t want to kill any social media darling’s buzz. …
When Should You File a Tax Extension?
This year, people can use IRS Free File to request an extension online if they need more time to prepare their tax return, regardless of their income. — April 15, 2022 Candace J. Dixon People who request a tax extension have until Monday, October 17, 2022, to file a return this year. Not everyone has to ask for more. Disaster victims, people serving in combat zones, and those living abroad automatically have longer to file.
What to Do If You Missed the April 18 Deadline to File and Pay Taxes?
The federal income tax deadline has passed for most individual taxpayers. What happens if you haven’t filed your 2020 tax return or paid your tax due? — Updated: April 20, 2022 Candace J. Dixon The federal tax deadline has come and gone for most individuals, but that doesn't mean everyone filed their 2021 tax returns and paid their tax due. Some people may choose not to file a tax return because they didn’t earn enough money to…
Dutch Social Premiums and Income Tax
By Richard Bierlaagh, Global Mobility Tax Advisor Dutch Income Tax 101 — want to understand what you pay for, and how your contribution is calculated? The key points below outline the basics regarding social premiums and income tax. SOCIAL PREMIUMS What is it? Personal contributions for nationalized social insurances and employee insurances…
French Impatriate Tax Regime
By Julien Darras, French Tax Lawyer Employees and managers relocating to France to work for a French company may benefit from personal income tax (“PIT”) exemptions of the “impatriate regime”. This article will discuss the benefits, conditions, and more. Main benefits of the scheme: ✅ Impatriation bonus PIT exemption, which may be assessed at a…