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.
Is Obama Secretly Trying to Raise the Death Tax Again?
Is Obama Secretly Trying to Raise the Death Tax Again? Democrats and Republicans have been battling over the estate, or death tax for decades. Democrats always push for a higher rate, while republicans would like to completely eliminate it. During the most recent Bush administration the death tax dropped from 55 percent to 45 percent…
Mark Cuban’s Take on Donald Trump’s Taxes
Mark Cuban’s Take on Donald Trump’s Taxes If you follow the presidential election then you know that this year’s run for the Oval Office is perhaps one of the most spite-filled elections our country has ever faced. According to many political pundits, talking heads in the media and dozens of poll results, the last two…
States to Avoid when Retiring
States to Avoid when Retiring Are you on the verge of retirement, or perhaps just a few more years away but you’re ready to start making some retirement plans? There are many things to consider when it comes time to retire, not the least of which where you choose to call home. For many people,…
Tax-Free Spinoffs Could Be Much Tougher Under Proposed New Rules
Many U.S. companies take advantage of lower foreign taxes by creating tax-free spinoffs of their parent companies. It’s a great and legal way to lower their corporate tax bills. However, some lawmakers have long pressed for changes to these rules and it appears that changes could be coming. The U.S. Treasury Department recently proposed…