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.
The Skinny on Tax-Deferred Retirement Accounts
Just about anyone could benefit from a tax-differed retirement account. These accounts, most commonly known as 401Ks or IRAs, are a great way to save for retirement and in many cases save on taxes. The real question is when do you plan on cashing out that retirement fund? While you will always see immediate savings…
Now Is the Time to Fix California’s Messed up Tax Code
The California tax code is about as healthy as the federal tax code. In other words, it needs a lot of work. Of course, there are many interested parties that are all hard at work trying to create plans that will help improve the state’s economy and tax revenue while helping those from the lower…
Why Taxing the Rich to Help the Poor Doesn’t Work
How many of you remember the Comedy Central game show: “Win Ben Stein’s Money?” The host, Mr. Stein, would challenge his opponents in answering trivia questions and actually give away his own money to those who beat him. That show has long been off the air, but the game show host, turned conservative commentator is…
Toshiba Adds More Units to Accounting Probe After Overstated Profits
Toshiba added more units to accounting probe after overstating their profits. Accounting can be much like taxes and when it comes to businesses the two go hand-in-hand. Getting your accounting right is extremely important. That’s why we recommend using a qualified accounting firm to handle your books. That includes: preparing financial statements, certifying audits, compilations…