Transfer Tax – Explained

by | Feb 23, 2025 | Business Taxation

What is a Transfer Tax?A transfer tax refers to any kind of tax which is imposed on ownership transfer or title transfer to property from an entity to another. In some states, a transfer tax is seen as an excise tax.How is a Transfer Tax Used?Transfer tax can be...

Tax Court – Explained

by | Feb 23, 2025 | Business Taxation

What is a Tax Court?The Tax Court is a restricted or specialized court that handles tax-related disputes. Although the tax court has no jury system, the court handles a wide range of tax matters or issues. As established by the Congress of the United States, the tax...

Self-Employment Tax – Explained

by | Feb 23, 2025 | Business Taxation

What is Self-Employment Tax?Self-employment tax is a type of tax payable by individuals such as small business owners who work for themselves. It consists of Social Security and Medicare taxes that the federal government deducts from income of such individuals. Any...