Gaming giant Crown has been slapped with a $20 million (US$13.8 million) fine for failing to pay its fair share of Victoria’s casino tax and trying to cover up the scheme. The state’s royal commission into Crown’s Melbourne operations found the casino giant wrongly claimed tax deductions by including the costs of certain promotional activities as…

More and more people are becoming gig workers due to the massive layoffs in recent days. It can be an excellent way to get some short-term income—and some people find that they can make more money through gigs than with a full-time job. Of course, you can expect to pay some taxes anytime income is…

New changes to the Internal Revenue Service’s policies for 2023 will see lower taxes for some Americans, as the revised rules come into effect. Rising costs have prompted the tax service to implement several changes affecting millions of citizens, as more deal with higher prices. Cost of living adjustments, including retirement savings, taxes, Social Security payments, and…

Tax time will soon be here. The good news is that there still is time to reduce your taxes this year. Making changes now can help you get more tax deductions on your upcoming 1040 taxes. Getting the biggest IRS refund means you need to have a lot of receipts for any tax deductions you…

During inflationary times, real estate can act like a hedge against inflation. It can also provide some stability if a recession turns to stagnation. But remember, even when inflation is roaring, people still need housing. It’s common knowledge that a mortgage’s interest can be deducted on a primary residence. But what about rental property? What…

These days, almost anyone can start a home business. The opportunities are there, and many of them do not cost a bundle to get started. The IRS is even favorable to home-business owners—and the self-employed—enabling you access to a wide range of tax deductions. Many tax deductions for a home-based business are available. The IRS…

When it comes to business tax deductions, one of the most overlooked helps are your auto and transportation fees. This may be because business owners are either unaware of this benefit or just don’t believe that it’s worth the hassle. The thing is, business mileage deductions aren’t that complicated. And, when done correctly, your could even end…

Paying taxes is not something anyone likely enjoys, but finding new ways to legally save more money on taxes by claiming new or overlooked tax deductions can make it at least interesting. Owning a home can give you several ways to save on taxes—and there may be some you are not yet claiming—but could. You…