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TAX MAY VOL. 05 SERIES OF 2021Whats Inside INSIGHTS is a monthly publication of BDB LAW to inform, update and provide perspectives to our clients and readers on significant tax related court decisions
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Gather all necessary tax documents such as W-2s, 1099s, and receipts.
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Who needs tax?
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Individuals who earn income such as salaries, wages, tips, or self-employment earnings.
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Anyone who receives income from investments, rental properties, or other sources.
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What is tax?
Tax is a compulsory financial charge imposed by a government on individuals or businesses to fund public expenditures.
Who is required to file tax?
Individuals or businesses with income above a certain threshold are required to file tax returns.
How to fill out tax?
Tax can be filled out by accurately reporting income, deductions, and credits on the appropriate tax forms.
What is the purpose of tax?
The purpose of tax is to fund government operations, services, and infrastructure.
What information must be reported on tax?
Information such as income, deductions, credits, and personal identification must be reported on tax returns.
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