What to Do If I Owe IRS and You Don't Have the Money? 5 Steps to Take Receiving a bill from the IRS can be a wake-up call and quite a scary experience for many of us. You'll ask yourself "What to do if I owe IRS?" Fortunately, the IRS is there to help and nourish the relationship between citizens and the state. There is a wide variety of options available to satisfy your tax bill. In our article, we will list 5 steps … [Read more...]
What Is an Offer in Compromise from IRS and What Are Its Benefits?
What Is an Offer in Compromise from IRS and What Are Its Benefits? The IRS is committed to working with taxpayers to ensure that they can make timely payments whenever possible. One of the arrangements that the IRS may agree to is called an offer in compromise. In our article, we will explain what an offer in compromise is and list the main advantages and disadvantages associated with it. General Information about … [Read more...]
How to Calculate and Pay Your Net Investment Income Tax: 7 Tips
How to Calculate and Pay Your Net Investment Income Tax: 7 Tips The net investment income tax (NIIT), albeit sounding very similar to the capital gains tax, is actually a different kind of investment tax that only applies to high net worth individuals, as well as certain kinds of estate and trust accounts. In this article, we are going to look at how an individual can know whether or not they must pay the net … [Read more...]
Understanding Deductions for the Self Employed
Understanding Deductions for the Self Employed It's tax time. Are you getting a refund? Understand deductions for the self-employed can be the difference in owing or getting money back from your tax return. Whether you are a freelancer or have your own small business, there are tax deductions that can provide you with a lot of savings. It pays to know what actually counts as a deduction in order to lower your tax … [Read more...]
Kid Friendly Roth IRA = 7 Year Old Millionaire
Kid Friendly Roth IRA = 7-Year-Old Millionaire Let's talk about how a Kid friendly Roth IRA can set your child up to become a millionaire. Saving money is an important part of life and this is especially true for kids. Many parents feel that the financial climate is only going to get worse as time passes. Prices are going to rise and unless a child is prepared they are going to financially struggle in life. Parents … [Read more...]
Estimate Your Taxes With A Tax Bracket Calculator
Estimate Your Taxes With A Tax Bracket Calculator Know Before You File With A Tax Bracket Calculator Uh-oh, It's the end of the year or worse yet April 15th is creeping up on you may be wondering, what is my tax liability for last year and how can I lower my tax burden to the IRS. Well, with a tax calculator and a little understanding about deductions you will be in a much more informed and strong position figuring … [Read more...]
Hey IRS, Where Is My Refund?
Hey IRS, Where Is My Refund? Are You Tired Of Asking The IRS Where Is My Refund? All year long millions of people work hard and pay taxes. When tax season rolls around many people are anxious to receive their IRS refund, and many more need it to help keep their families afloat for the year to come. Because of this, many people are often agitated, waiting daily for their refund. To help ease some of their anguish, the … [Read more...]
Is a 10 Year Treasury Note a Good Investment?
10 Year Treasury Notes have a time and a place. That time may not be now. For a very long time the natural course of action for the most financially conservative of us has been to invest our money for retirement into very safe ten year treasury bonds or to be even more safe with thirty year treasury bonds, but with the dismal 10 year treasury rate and 30 year treasury rate it truly is time for a change. I would … [Read more...]
Wills and Trusts 101
Wills and Trusts 101 Wills and Trusts can make sure your assets go where you want after you pass. Financial planning for your future and your family are among the most important steps a person can take to ensure that assets acquired over a lifetime are used in the best possible manner. Financial planning can take many paths during a lifetime. However, if not handled properly, those assets may not be available to … [Read more...]
Getting to know Estate Law
Getting to know Estate Law Let's talk about the importance of Estate Law Introduction: What Is A Will and How Does It Work? Drawing up an estate plan protects your assets when you die and it helps to protect your family members. This is where a Will comes into play, which provides for the settlement of your property at the time of your death and your property is handled just the way that you want it disposed of. … [Read more...]