Being self-employed comes with many perks. People can often schedule their own working hours and accommodate their familyâ€™s schedule without fear of angering an employer. However, self-employment also comes with different responsibilities, namely withholding taxes from oneâ€™s earnings. Self-employment taxes often require that people follow a different set of tax rules than employed workers. Knowing these rules can help self-employed contractors and entrepreneurs avoid fines and penalties.
Most tax experts agree that entrepreneurs and contractors should hold out more money than normal for their taxes. Most Read more
Are you having a hard time when it comes to collecting all of the necessary tax documentation that you need in order to file your taxes before the upcoming April deadline? If so, then you may be wondering what options you have. Fortunately for you, all taxpayers have the option of filing for an extension on their taxes; if your extension request is approved, you will be given a few extra months to complete your taxes for the previous year.
So if this is something that you are interested in, then the first thing Read more
You shouldn’t be paying too much for anything – especially in this country and the way the economy is going. If you’re paying too much on auto insurance, then it’s time to figure out what you can start doing to help change all that.
Below are just a few suggestions when it comes to possibly lowering your rates. If you have any questions, sites like http://www.autoinsurancerater.com/quotes/auto-insurance.html might be able to help you figure it out. You should also consult with your specific provider as some of these suggestions can vary depending on your coverage.
- Respect the speed limit. Speeding and any other kind of moving violation you can actually get cited for can trickle down to your provider and raise your rates. Some providers actually lower your rates or reward you in some other financial way for safe driving.
- Stick to the safer cars. If you feel like you are paying too much on auto insurance, then maybe it’s because your car is considered unsafe. Vehicles with low safety ratings often jack up the insurance rates so always keep that in mind when you’re in the market for a new vehicle.
- Don’t go crazy with customizations. Aside from the fact that custom jobs can lower the value of your vehicle, they can also render your vehicle unsafe. As mentioned before, that can raise your auto insurance rates.
Paying child support on time can be challenging, especially if you’re struggling with money yourself. However, if possible, the first tip you should know if you need to pay child support is to pay it on time. Paying child support on time is very important in order to avoid any legal issues that might arise. If your wife or husband refuses to allow you to see the children in question, continue to pay child support. If you do not pay child support it will always look bad in front of the judge, and may result Read more
There is a very funny thing that happens at tax time. People that are expecting returns cannot wait to file. They don’t even know when the deadline occurs because they always file early. They are early about their returns. Some of them even file rapid returns that allow them to file before employers even send out their W2 forms. This is not so true for the people that expect or know that they will owe money.
People that have to pay taxes are well aware of the deadline. There people even know about the process of filing extensions. These Read more
If you’re recently married, you may be wondering if you have to file a joint tax return. The short answer is no, you don’t. Both spouses have to file a tax return but each spouse can file a tax return as married filing jointly or married filing separately. Newlyweds should consult a tax adviser as to which method of filing will have them to pay the least tax or garner them the largest refund. In Read more
Claiming head of household is beneficial for those who qualify. In fact, these taxpayers can take advantage of a higher standard deduction along with lower tax rates, especially when it is compared to people who have to file their taxes under the single filing status.
To file under this status, however, each individual will have to read and follow the guidelines very carefully before they file their taxes under the head of household filing status. These rules and guidelines are both complicated and very specific . Therefore, each individual should Read more
If you meet or exceed your state’s filing requirements, you must file a tax return. There is no minimum or maximum age limit for filing taxes.
If a child has had an investment made in their name, a tax return must be filed. If you are a full-time student, you may be able to add or include your income on your parent’s tax return. For those 65 years of age or older, your filing status and your gross income will determine whether or Read more