Keeping Your Books Straight

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Save With The Goal Of Reducing Your Tax Liability In Mind

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When it comes to savings, setting aside a certain amount of money is only the beginning of the process. You should aim to save money with growth in mind, but even more importantly, you should save in a way that keeps your tax liability as low as possible. To achieve this goal, you need to learn how to save with taxes in mind.  Maximize Your 401k If you have an employer who offers a 401k savings plan and you can afford to maximize your contributions, there is no reason you should not be doing so. Read More»

Have Tax Debt? 3 Ways To Fix Things With The IRS

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If you have tax debt, you need to take that debt seriously. If you don’t, the IRS could come after your home and vehicle. When it comes to dealing with tax debt, you need to have a plan. Don’t Ignore Things You should not ignore any debt that you have with the IRS. The IRS can seize money from your bank, and they can even take away your home and your car if you don’t pay your taxes. Read More»

5 Reasons To Get Tax Help

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Dealing with taxes can get messy. You may dread tax season because you’re afraid that you will do your taxes wrong or that you won’t get them filed in a timely manner. Instead of stressing out and being afraid of taxes, why not hire a tax pro? There are tax help services and similar resources to help educate you so that you know what you’re doing. Here are some of the main reasons to get tax help before attempting to file your own taxes: Read More»

3 Things You Need To Do This December To Prepare For Next Year's Tax Season

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December is your last month to make many tax moves that will reduce your tax bill and increase your refund next year. Carve out some time during this busy holiday month to make sure that you are set-up for doing your 1040 tax preparation for individuals next year. Max Out Your Retirement Plan Pay yourself this December by maxing out your retirement accounts. Putting money into an IRA, 401(k) or 403 (b) will directly reduce your taxable income. Read More»

3 Ways To Keep Better Track Of Your Small Business's Money

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As a small business owner, it is important to keep accurate track of your money. Keeping accurate track of your money will help you know what to write off when tax season comes around. Keeping accurate track of your business’s money will also help you make smart financial decisions about the direction in which to move your company. Open A Business Banking & Credit Card Account The first thing you need to make sure that you have set up is a dedicated business banking account and credit card. Read More»

Being In Charge Of A Trust

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Being chosen as the trustee to handle the trust of someone special says a lot about your character. The other party trusts you enough to keep various of his or her assets in your care until it is time for them to be distributed to the beneficiaries of the trust. However, it is smart to enlighten yourself on what is involved with being a trustee. There are legal obligations that you must abide by to stay out of a complicated legal situation, such as by making sure taxes are filed for the trust. Read More»

2 Reasons to Utilize a Tax Service

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One of the best things that you can do with the upcoming tax season is to take advantage of a tax preparation service, typically due to the fact that they can manage to file your taxes easily and accurately. Listed below are just a few of the reasons to consider utilizing a tax service to file your taxes. They Can Limit the Odds of You Getting Audited The primary reason to look into using a tax service is that they can limit the odds of you getting audited. Read More»

Growing From Business Owner To Employer? 4 Steps To Make It Easier

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For a small business owner trying to grow their company, the decision to hire or not hire employees can be a difficult one. If you’ve reached this potential turning point in your business, here are 4 things to help you make the right call. 1. Understand the Hidden Costs. The salary or wage you plan to offer an employee may seem like the only financial aspect of the transaction that you need to know about. Read More»

Finding Overlooked Deductions To Reduce An Outstanding Income Tax Balance

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Individuals who find themselves with income tax debt often set up an installment payment arrangement with the IRS. At first glance, a payment agreement might appear to be the best option to resolve an unpaid balance due. However, individuals with overdue tax debt should take a second look at the tax return that created the outstanding balance to ensure that the tax return itself is correct. Tax filers sometimes miss out on deductions to which they are entitled. Read More»

Benefits Of Using A Professional Tax Service

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Filing and paying your taxes is a yearly obligation that can be a source of extreme stress and confusion for many people. For those that find themselves struggling to meet their tax obligations, retaining a Dave Ramsey tax professional can help them in numerous ways, and considering these benefits will help you to appreciate investing in these services.   Reduce The Risk Of Making Errors In Your Tax Documents One of the more common issues that people can have with filing their taxes is understanding the various tax laws and regulations that are in place. Read More»