Tax Saving

Dealing With Back Taxes

17/04/2012
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Taxes

Taxes are an issue that almost everyone has to deal with at some point. If you cannot afford to pay your taxes and you let them become late, the Internal Revenue Service can take drastic measures to collect the money that you owe. If you find yourself in a situation where you owe back taxes, it does not mean that you have to lose your property or go to jail. There are some solutions that you can turn to in order to handle the issue. IRS Collection Efforts If you owe back taxes, the IRS can try to collect them anytime within 10 years. The statute of limitations for IRS tax debt is a decade, which gives them plenty of time to try to get the money out of you. If you do not pay the taxes that you owe, the Internal Revenue Service can seize your assets, take...

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Last Minute Tax Prepartion Tips

03/04/2012
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last minute taxing filing tips

So you’ve waited until the last minute to file your taxes, eh? Don’t worry, you aren’t alone! I haven’t either. The good news is that the IRS has pushed the filing date back to April 17th! The bad news is that tax preparers are busy and it may be difficult to get help in a timely manner. Lucky for you, I’ve pulled together a few tips to help this most dreaded of chores pass by smoothly. Paper Work Whether you are filing your taxes on your own or hiring a professional, you will need to have certain items at your disposal. It’s a good idea to gather all of them at once so you don’t have to go searching for them while you are in the process of completing the tax forms. Last year’s tax return All W2s and 1099 forms that you received. Relevant receipts for charitable donations,...

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Five Tax Refund Tips You Won’t Want to Miss

26/03/2012
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Tax Tips

Depending on whether you are required to cough up some unexpected tax money or you are owed a refund, tax season can either seem like doomsday or like Christmas in April. Even though most people dread the filing process, it is more than worth it to discover that you have a sweet refund check headed your way afterwards. What you choose to do with that money is up to you—use it for a tropical vacation, buy yourself a new gadget, or improve upon that credit score and put it towards chipping away at your debt. What I want to share with you are some tips for getting the most out of your tax return, and to remind you of certain tax credits that you might not be aware you are eligible for. 1. Put some money into that IRA while you still can First of all, if you don’t...

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The Smarter Way To File Your Taxes

16/03/2012
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File your tax

Did you know that the average refund distributed during tax season is almost $3,000? Most of the time, that refund will go right into a savings account, but there are other ways to spend a tax refund that can boost your refund for next year, and no, it doesn’t include going on vacation or a shopping spree. The ways to super charge your tax refund are discussed in Cheap Sally’s The Smarter Way To File Your Taxes. Cheap Sally goes in depth into various topics about taxes, such as reasons to hire a tax pro, three online tax preparation services that are worth looking into, the estimated time burden needed to file your taxes, as well as deductions that are commonly missed each year. Filing your taxes just got easier with this helpful guide, and with proper preparation and organization, you’ll have your tax return filed in no time...

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Interesting Ancient and Old Currency

03/03/2012
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Old Currency

I’m sure we’re all familiar with the ancient barter trade of times gone by, but did you know there used to be very real old currency that was used in trades. Sure it wasn’t the paper and plastic that we have today, but then again with contemporary problems in place with the world economy we may be using barter for trading soon enough – although I hope not. The old money currency systems that used to exist seem bizarre or even alien today, but they are compelling to say the least. Let’s take a look as some of the strangest old currency exchange and values of yesteryear. African Potato Mashers Bafia potato mashers were used to, surprisingly, mash potatoes; they were also used as old currency. In ancient Cameroon, these heavy potato mashers weren’t in supply by the large and were therefore reserved for affluent members of the community....

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Finance for the Future

09/08/2011
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future finance

Even in these times of economic uncertainty, there are still things that we can rely on – death and taxes.  While it might be difficult to think about that fact that death eventually comes to us all and it’s probably best not to dwell on that fact too much, it’s important to face facts and make sure that proper provision is made for those who survive us.  Dying without a will (intestate) means that your possessions will be divided up according to stringent legal rules and will actually mean that you leave a mess for your loved ones to sort out during what will undoubtedly be a very difficult time. Making a detailed will ensures that you can choose who will benefit after you have gone and that your property and possessions are passed on to the people that you would want to receive them. If your circumstances are...

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Social Networking, Meet Billable Hours

18/07/2011
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social networking

If you’re a lawyer and you’re playing it by the book – like we all know that you are – then there are long, seemingly interminable stretches of your life lived in six-minute increments. The ticks of the clock are both a thorn in your side and a nugget of gold in your (or your firm’s) pocket. The sense of a higher moral obligation and service to your community and fellow humans may leave you inclined to argue that clockwatching is not part of your game plan, and every conceivable minute logged is used serving the needs of your client. And, that’s all very noble. No one is accusing you of padding the bill. Besides, more and more alternatives to billable hours have been emerging since the recession as a way to cut costs. Nevertheless, even the noblest of attorneys may not be able to resist the siren song...

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Common Tax Deductibles for SEO Consultants and Webmasters

01/06/2011
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Along with working from home (or a home office) and getting to be your own boss, one of the other advantages of being an SEO consultant or website owner and administrator is that you are classed as self-employed or a sole proprietor, a freelancer or a contractor. Though this brings it’s own share of headaches when it comes to accounting and also brings its own special taxes such as Self-Employment Tax, working for yourself also brings its own fair share of things that are tax deductible when it comes to filling out that dreaded tax return. Depending on your specific type of business there are plenty of deductibles that only you and your accountant will be able to work out, so it is worth talking with your accountant as soon as your business is up and running. In the meantime however this article will take a brief look at...

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