Cyber Monday is a day to get great deals on online transactions. Although the deals are still good, the overall savings may not be as high as expected for residents in Minnesota. Minnesotans may notice a new addition to their bill: sales tax.
Business owners must navigate a wide range of tax obligations. A failure to properly abide by these obligations can lead to an audit and, depending on the findings of the audit, allegations of criminal wrongdoing.
There are many tax strategies that can help reduce your tax bill, some more complex than others. But putting aside money into a retirement account is one relatively easy step that can save everyone money. The step is like a one-two punch — not only are you taking money out of your taxable income but you are also putting it away for use in the future.
Even Hollywood’s elite find the Internal Revenue Service (IRS) a tough adversary. The most recent to learn this lesson: Hollywood movie star Wesley Snipes.
Dealing with taxes every April is bad enough. One thing that can make tax-related stress even worse is getting a notice that you are also the subject of an audit by the Internal Revenue Service (IRS).