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Consumption Taxes Corporate Business Taxes & Laws Facts on Taxes Personal Taxes Sales Tax Taxes Value Added Tax

What Is Consumption Taxes?

Consumption taxes represent a distinctive approach to revenue generation for governments, shaping the economic landscape by targeting spending rather than income. Unlike traditional income taxes, which levy charges on earned wages, consumption taxes focus on the consumption of goods and…

Matthew RusselMay 3, 2025

Facts on Taxes Federal Income Tax Filing Taxes Gambling Winnings

Do You Have To Claim Gambling On Taxes?

The allure of hitting the jackpot or scoring a significant windfall through gambling is a thrilling prospect for many individuals. Whether it's a night at the casino, a winning lottery ticket, or other forms of betting, the excitement of a…

Matthew RusselMay 3, 2025

Facts on Taxes Filing Taxes Personal Taxes Taxes

The Most Common Tax Myths Debunked

Taxes are an inevitable part of our lives, yet the realm of taxation is often shrouded in myths and misconceptions that can significantly impact how individuals perceive and manage their financial responsibilities. These myths, perpetuated by hearsay, misunderstandings, and sometimes…

Matthew RusselMay 3, 2025

Corporate Business Taxes & Laws Facts on Taxes Filing Taxes Gambling Winnings Lottery Winnings

Can An LLC Claim Lottery Winnings In Puerto Rico?

When it comes to lottery winnings, individuals and groups alike dream of hitting the jackpot and enjoying the financial freedom that comes with it. However, what happens when a lottery ticket is purchased by a Limited Liability Company (LLC) in…

Matthew RusselMay 2, 2025

Facts on Taxes Federal Income Tax Filing Taxes Lottery Winnings Taxes

Does Washington Tax Lottery Winners?

Lottery winnings are a dream come true for many, offering a chance at financial freedom and opportunities that were once out of reach. However, the pursuit of these life-changing prizes often comes with a hidden cost in the form of…

Matthew RusselMay 2, 2025

Facts on Taxes Federal Income Tax Filing Taxes Personal Taxes Self Employed Taxes Small Business Taxes

What Triggers A CRA Reassessment?

Taxpayers in Canada are required to file their tax returns accurately and on time to avoid penalties and interest charges. However, even after filing, the Canada Revenue Agency (CRA) may conduct a reassessment of a taxpayer's return, resulting in additional…

Matthew RusselMay 1, 2025

Corporate Business Taxes & Laws Facts on Taxes Filing Taxes Lottery Winnings

Can An LLC Claim Lottery Winnings In Michigan?

Limited Liability Companies (LLCs) are a popular form of business entity in Michigan, as they offer many advantages to business owners, including liability protection and tax benefits. However, when it comes to claiming lottery winnings, the rules can be a…

Matthew RusselMay 1, 2025

Corporate Business Taxes & Laws Facts on Taxes Filing Taxes Gambling Winnings Lottery Winnings

Can An LLC Claim Lottery Winnings In Arizona?

Lottery winnings can be a significant financial windfall, and many people may wonder if they can claim their winnings through their LLC. As a separate legal entity, an LLC has its own rights and responsibilities, which may include the ability…

Matthew RusselApril 30, 2025

Our Recent Blog PostsStay Informed with Our Tax Blog

What Is Consumption Taxes?

Do You Have To Claim Gambling On Taxes?

The Most Common Tax Myths Debunked

Can An LLC Claim Lottery Winnings In Puerto Rico?

Does Washington Tax Lottery Winners?

What Triggers A CRA Reassessment?

Can An LLC Claim Lottery Winnings In Michigan?

Can An LLC Claim Lottery Winnings In Arizona?

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