As we move into 2025, Georgia is implementing several significant changes to its tax laws. These changes are designed to provide tax relief and improve the state's tax system. Here's a detailed look at what you can expect. Lower Personal Income Tax Rate One of the...
Holding personal resources in an offshore account was once a top tax avoidance strategy. However, that has shifted in recent years. While some people may continue to hold resources in international bank accounts, they will typically derive far less protection from...
Small to mid-size business owners in Georgia and across the country are breathing a sigh of relief as recent proposed changes to tax laws may avoid a key perk for pass-through entity income, at least for now. With the current administration’s 2022 fiscal budget...
Whether their hobby makes a few dollars a week or $60,000 a year, an individual needs to declare their hobby income on their taxes. Otherwise, they might be subject to penalties from the IRS. Here's what people in Georgia need to know about declaring their hobby...
Everyone who earns an income in the United States needs to pay tax. Avoiding taxes is not only illegal, but it can lead to serious consequences, from severe penalties to jail time. While tax evasion is illegal, there are ways that you can use the law in your favor. By...
If the IRS believes that there is something wrong with your tax return, it may select it for further examination. In some cases, an audit is conducted entirely by mail. However, it may be necessary to go to an IRS office in Georgia to meet with government agents in...
When it comes to the obligation to pay federal income tax to the Internal Revenue Service (IRS), offshore bank accounts are a common source of confusion among those who must pay federal taxes in the United States. Quite a few people still think of offshore accounts as...
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