What Is the Tax “Pass Through” Rule?
Unlike corporations, which distribute profits to shareholders via dividends, pass through businesses’ profits go right to their owners, essentially “passing through” the books of the business.
Author: Robert
What You Need to Know About Trump’s Tax Cuts
As the first major reform of the US tax code since 1986, President Trump’s Tax Act was signed into law on December 22, 2017.
British Fisherman Jailed for Tax Evasion of £40,000
A British fisherman was sentenced to 14 months in prison for tax evasion. David McHale, who works as a self-employed fisherman in Scotland, avoided paying a tax of over £40,000, admitting to a fraudulent scheme that allowed him to evade payment.
Which Occupations Are Most Likely to Underpay Tax?
In the UK, it is estimated that over 30 percent of self-assessment taxpayers – those that file their taxes themselves as opposed to having an accountant doing it on their behalf – underpay their taxes.
Does Queen Elizabeth Pay Tax?
Does Queen Elizabeth pay tax? It’s a question that has been getting quite a lot of attention recently – particularly given the Queen’s name in the recently released Paradise Papers give rise to allegations of tax avoidance.
Millionaires in the U.S. Say They Want to Pay More Taxes
President Trump’s tax plan, which recently passed in both the House of Representatives and the Senate, is an attempt to encourage investment and spur job growth.
House GOP Tax Bill Would Significantly Increase Grad Students’ Tax Burden
On Nov. 17, the U.S. House of Representatives voted to overhaul the U.S. tax code. The vote – which largely went along party lines – has a number of far-reaching consequences, notably for graduate students.
What Does the Average Brit Pay into and Take Out of the Welfare State?
The average British family paid about £25,000 in taxes in 2016 – up from £15,000 in 2015. Over a lifetime, that works out to be roughly £823,439 per household.
Netflix Avoids Tax in the UK
According to Netflix’s latest UK filings, the video-streaming service saw close to a 40 percent decrease in its UK tax bill from 2015 to 2016 – and it seemingly paid taxes on just a small fraction of its total UK revenues.
The UK Fizzy Drink Tax
In an effort to reduce rates of childhood obesity and raise additional revenue, the UK government passed draft legislation this past spring adding a tax to sugary drinks.