Taxes
Well, they did it, the Republicans have finally passed their tax bill and they are promising big tax breaks for all. But is this true? We know this can be confusing with all the news media rushing to get information out there and showing you the tax brackets. But here at Orca, we believe in minimalism, so we broke this down in the simplest form, we also wanted to touch on the changes that affect our...
1. You start your own company and get a business credit card 2. You start buying things you need for work 3. Like an iPhone a car meals with clients 4. You also buy a house and get a mortgage on it 5. You think about all you’ve bought this year, saved for retirement and given to charity 6. You talk to a professional 7. Who gives you the idea that you can subtract expenses from your AGI 8. Soon this...
Just like winter was upon Game Of Thrones this past season, the Tax Reform proposal is finally here; let's hope it doesn’t bring any white walkers with it. Now the goal is to get this implemented before the end of the year and for next year's tax season. But of course like most things this is just a bill on Capitol Hill right now #schoolhouserock. So let's go over what the proposal has in it, now there...
Let us break this down: 1. You buy 100 shares of a stock 2. Stock takes off and appreciates 3. After some time you sell the stock 4. The US Government arrives 5. Takes a share of your profits 6. Equals Capital Gains Tax Now, lets piece it together: first, you buy 100 shares of a stock and it makes a profit for you over some time, later, you sell the stock and the US Government comes in and takes a...
With technology, the ability to create your own business is endless whether you are a photographer, coder, model, graphic designer, dancer, tutor, etc… the opportunities are endless. You are a self-starter and a go-getter and live by your craft but you don’t often understand the financial and tax implications behind it. You want to just concentrate on what you are good at and before you even realize...
2.6 Trillion, that is how much is estimated to be sitting overseas by American based companies like, Apple. High taxes have prevented them from bringing this money back into the United States. Now you might have heard in the news lately that Trump wants to hand corporations a “sweet tax deal”, to bring back some of this money. Trump and his supporters believe that this will help boost the growth of...
The 2016 election has been filled with scandals, every week there seems to be something new from a leaked video, to e-mails, and finally the ever-coveted topic of tax returns. You may have seen the headline or read a quick blurb about Donald’s leaked tax return that looked something like “Donald Trump has not paid taxed since 1995 due to a net operating loss of 900+ million dollars” Wait What!? I mean...