Not Living on the Earth? You Still Have to Pay Your Taxes on Time
You gotta hand it to the IRS for being thorough. They’ll leave no stone unturned in an effort to make sure that every taxpayer files their return. That’s even true of very big stones, otherwise known as asteroids. In other words, even if an astronaut wanted to hide behind an asteroid or a moon rock, he or she would still have to file a tax return on time.
That’s right, when it comes to filing taxes, unless you go through the proper channels and file for an extension, then you must pay your taxes on time, even if you’re an astronaut in the middle of space from January 1 to April 15. So what is a space traveler to do if he or she ends up in orbit when taxes are due?
Well, like any other traveler back here on the ground can do, they need to contact a good accountant. Although this situation may not apply to a lot of people right now, as more and more people and businesses in the private sector delve into space travel it could definitely come into play more often and for more people, including the ultra-wealthy who are behind these new space travel endeavors.
Meantime, there are many other world travelers that spend many months at a time abroad. Just like astronauts, they too need to make sure they file their taxes on time. If you count yourself among the many who spend a lot of time away from home, including some of the very wealthy, then make sure you don’t overlook your tax planning and preparing duties. Contact GROCO and you can have peace of mind that your taxes will be taken care of, whether you’re in Europe, Asia, and Australia or even in space.
Common Investment Mistakes
Courtesy of Paul Ray Andrus, LUTCF, ChFC There is a lesson to be learned from the recent $2 billion-plus loss by a sophisticated trading unit of JPMorgan Chase. Even “expert” traders make mistakes. You shouldn’t expect every investment decision you make to be perfect. And when you are wrong, it’s best to recognize it and…
These Investing Mistakes Prevent You From Building Your Wealth
These Investing Mistakes Prevent You From Building Your Wealth Why do you invest? Are you looking for a get-rich-quick investment scheme? Or, are you looking to build real, sustainable wealth that will last over the long haul? Most investors want to build wealth over many years. Sure, no one is going to turn down a…
Important Year-End Tax Tips That the Wealthy Should Know Now
Important Year-End Tax Tips That the Wealthy Should Know Now High-net-worth individuals have a lot to think about in their often fast-paced financial dealings, not the least of which is how to save on their taxes and keep as much of their wealth from the taxman as possible. Many high-net-worth individuals make a lot of…
Do You Have a Handle on Your Retirement Taxes?
Do You Have a Handle on Your Retirement Taxes? As you look in the rearview mirror of your career does it seem that the objects are actually getting further away? That means you are probably getting closer to retirement. Retirement can be a great thing for a lot of people, but it can also cause…