Handling your taxes promptly and accurately every year is essential. Depending on your tax situation, you may need to make estimated tax payments. Those who need to make estimates and payments need to have good tax management knowledge.
Understanding your tax responsibilities will give you greater peace of mind. It's also worth noting that understanding tax responsibilities will protect you financially. Below are all the details you should be aware of regarding estimated taxes.
Read MorePayroll deduction is necessary to keep the company afloat. Employers are required by the government to subtract certain amounts from each employee’s paycheck. Most times, the deductions include personal income tax and social security, which the IRS receives from the company in advance. The company is like a collection agency for the IRS. If you have a CPA that does your tax management and files your return, you can discuss these deductions to see if they are plausible or necessary.
Read MoreOne of the most incredible things about living in a digital world is that you can learn just about anything you want for free, including accounting. From YouTube videos to online college courses- a wealth of knowledge is at your fingerprints. If accounting is your jam, below are some of the best free online accounting courses.
Read MorePaying taxes, one of the joys of adulthood, can seem harrowing at first, but once you organize yourself, it becomes simpler. Learning what financial and tax records to keep and for how long helps you make the following year’s taxes easier to prepare and makes it a breeze if you get audited.
Read MoreIf you or someone you know has had to deal with being a beneficiary of a life insurance policy, then you have probably heard the question "Is life insurance taxable?" You may have even asked yourself "Is life insurance taxable?"
Unfortunately, the answer to that question is slightly complicated. Before diving into the answer to the question "Is life insurance taxable?", it is important to first look at how taxes work in the first place.
Read MoreThe estate tax rate can be one of the highest tax rates. It starts at 37% and can get as high as 47%. This means it’s important to carefully plan if you want to avoid the government getting the bulk of your hard-earned assets.
Read MoreIf you own a home or are hoping to purchase real estate in the future, you need at least a basic understanding of land and house taxes.
That knowledge will help you decide which property to buy and may save you money if mistakes are made in your taxes during your years of ownership. Keep reading to learn how to determine your land and house taxes whether you’re shopping for a new home or already own real estate.
Read MoreOne of the most significant expenses of owning a home that's also easy to overlook is property tax. Regardless of where you own a home in the United States, you'll be expected to pay property taxes. Before you commit to owning a home, you should understand this expense. You should have a property tax assessment performed. A property tax assessment will let you know how much property tax to pay each year.
Read MoreNo one wants to pay money to the IRS. No one wants the IRS to chase them down for money, either. If you find yourself in a jam, perhaps you have had your wages garnished and now you want to stop IRS wage garnishment, what do you do? It is possible to stop IRS wage garnishment, so don’t stress too much and continue reading to find out how to do it.
Read MoreMany of us file our own taxes but probably do not feel good about it, mostly because we feel rushed. If you start early, before the end of January, and compare tax software, not only can you select the right one for you, but you could get a significant discount on the software.
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