Mortgage & Housing Deductions

Mortgage & Housing Deductions Mortgage and housing deductions have always been the most criticized and denounced policy of all times if you consider the opinion of economists. The recent tax reforms proposed by the Trump administration have again brought this issue into the limelight. So, we will straight off get into the discussion and try [...]

2018-05-19T19:59:27+00:00 December 8, 2017|Deduction & Credits|0 Comments

Progressive Taxation – Thought Process It’s Pros, Cons

Progressive Taxation - Thought Process It's Pros, Cons A progressive taxation system is one where the tax slab increases considerably as the income increases. Thus, high-income individuals end up paying more taxes than what normal individuals would do. For that matter, the United State of America has a progressive taxation mechanism in place for [...]

2017-12-05T11:48:44+00:00 December 5, 2017|Tax Planning|0 Comments

Early Withdrawal Penalties

Early Withdrawal Penalties The whole idea of retirement planning is to ensure that you have enough money at your disposal during the non-working phase of your life. This is one of the primary reasons there are penalties if you go for early withdrawal in such schemes. The government provides several tax breaks for retirement plans [...]

2017-12-01T13:46:45+00:00 December 1, 2017|Deduction & Credits, Tax Planning|0 Comments