If you use the standard mileage rate the first year, you can switch to the actual expense method in a later year, provided that you used the straight-line...

You may be able to get a tax refund (rebate) if you’ve paid too much tax. Use this service to see how to claim if you paid too much on: pay from your curr...

There are a range of income tax reliefs available that can reduce the amount of tax that you have to pay. The Universal Social Charge (USC) is a tax on yo...

The Internal Revenue Service is the agency that collects tax revenue for the federal government. It has the entire force and power of the United States be...

Searchable List of India’s Most Valuable Export Products Rank Indian Export Product 2020 Value (US$) 1 Processed petroleum oils $26,174,665,000 2 Medicati...

There is nothing like an illegal income so far as the Tax Collector is concerned. Even if the assessee was prosecuted by Law Enforcing authorities for com...

If you forgot to send out 1099s last year you can expect the IRS to apply a material penalty. This applies both to “forgotten” and incorrectly filed 1099 ...

Yes, you may deduct any loss your business incurs from your other income for the year if you’re a sole proprietor. This income could be from a job, invest...

Its key imports include machinery and equipment, chemicals, fuels, and foodstuffs. Major exports include oil and gas, electrical appliances, plywood, rubb...

Imports are important for the economy because they allow a country to supply nonexistent, scarce, high cost or low quality of certain products or services...