Understanding the Tax Challenges Faced by Your Business
Every type of business must deal with different sets of tax regulations and specific laws. This means businesses are facing different series of tax challenges on a regular basis. The fact that taxation laws are changing frequently – whether it is to keep up with the latest developments or due to changes in approach – doesn’t make processing tax returns any easier either. According to studies complied by Northeastern University, there are six main tax challenges faced by businesses and individual taxpayers alike.
Estate tax, for example, is being reformed to allow up to $5.43 million of tax-free estate to be transferred. There are also deductions and other things to consider. Many who are processing their estate tax choose to hire someone with an online master in taxation degree to help them navigate through the changing regulations.
You can also learn more about other tax challenges from the Six Issues in Taxation infographic by Northeastern University.