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.
Another Tax Scam Is Upon Us – Beware of Back Taxes Bullies
No one likes a bully. Bullies can wreck havoc on their victims. From swirlies to stealing lunch money, bullies are a big problem. The same can be said for tax bullies, except they want to steal a lot more than your lunch money. There have been several recent reports from different locations around the country…
Consider Taxes and Choose Your Retirement Location Carefully
Last week we discussed the best and worst states to retire in when it comes to taxes. So what kinds of factors actually play a role in coming up with those numbers? Choosing a place to call home when you retire is important and there are many factors that can play a role in where…
How One of the World’s Wealthiest Individuals Avoided Taxes for Years
Many people are always complaining that the wealthy don’t pay their fair share in taxes. While that is an argument that will never end, it seems that one of the world’s richest men might be guilty. That’s because he was able to avoid paying taxes for more than 40 years. How is that possible? The…
Where Should You Call Home in Retirement?
Are you planning on retiring soon? There are a lot of things to consider and prepare for when you’re ready to call it quits and start enjoying the so-called “golden years,” especially when it comes to your financial future. One of the most important matters to take care of is how your taxes will affect…