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Posts published in “Business Law”

How An IRS Lawyer Can Help a taxpayer With An Offer In Compromise

As a taxpayer, you might be eligible to pursue a settlement plan known as an “Offer in Compromise”. This plan enables a taxpayer to hire offer in compromise lawyer to deal with late tax obligations. In case you are not familiar with such a process, it is highly advised you hire an IRS lawyer. A skilled IRS lawyer will guarantee you will not miss any opportunity for approval of your offer. Additionally, an attorney may give some other services to taxpayers in difficult situation.

It is really possible for a troubled taxpayer to settle tax debts. Nevertheless, the procedure for an Offer in Compromise is often rather complicated to the person with average skills. It is a smart choice to hire an IRS lawyer to assist you. There are particular situations in which a tax unpaid debt can be compromised. (more…)

If the lender contacts you to demand money, do not make them any offers.

This is to do with good negotiating practice. Both you and your lender have rights. It is using its rights; you should be using yours. Your first right is to require the lender to account for any claim it is making against you before you do anything about it.

Making offers – even filling in and returning the income and expenditure form the lender will send you – may be taking as an admission that you accept that you “admit” the debt. You don’t. So don’t do it.

You’ll almost certainly find the lender avoids answering the question fully and generally tries to avoid giving you any more information. Yet it will demand quite a lot of information from you. Odd, that! It’s actually just good negotiating technique: give away nothing and find out what you can about your opponent. Lender’s debt collection departments are experts at it, they do it all day. (more…)

The importance of Key Account Management software for B2B companies

When a business does not understand the definition of key account management, their upcoming success is hampered from the beginning. Account management skills are needed, but without any sales skills for implementation, your efforts will never reach fruition. Without key account management skills, you can’t create an effective account plan or strategy, won’t be able to set the best team together , and won’t have the capability to work with B2B clients in the long run to increase the existing strength of business relationships .

How to start building long-term key account management and sales skills is the subject matter for another piece, organizing your sales team to completely focus your business on those accounts that reflect a great number of your total sales volume will allow you to grow your key accounts. (more…)

How to estimate your tax refund 2018

Every year, incredible numbers of taxpayers are disappointed or surprised with the data of their tax refund. Many individuals only hope for refund without fully realizing how changes in their life can have an effect on their tax return. The good news is, you can find many online tools for tax refund calculator 2018.

You also need to realize that tax laws are always updated every year. For that reason previous tools you used to calculate your taxes last year will no longer be an accurate option to calculate this year’s taxes. When your marital status, employers, salary, medical costs, other income and also living arrangements did not really change from 2017, (more…)

Things You Need to Know About Unemployment Tax Laws

Unemployment taxes are the taxes that employers pay the federal government and the state to fund unemployment compensation benefits to employees who are not working. Employers tax rates are based on the business type that the run.

This means the higher the employment rate goes the higher the tax is going to go for employers. Therefore, as an example let us say there is a medical office with a low turnover rate and a fast food restaurant with a high turnover rate. The fast food place would pay more in unemployment taxes than the medical office.

How Do Federal Unemployment Taxes Work?

Federal unemployment taxes, FUTA Taxes, are what employers pay based on their employees’ wages. Currently, the percentage is 0.6% for the first $7,000 wages annually. However, the maximum amount of federal unemployment tax that an employer would pay for an employee would be $42.

If you are a business, you will be required to pay unemployment taxes if either of the following applies to you:

  • You have paid a wage of $1500 or more during the calendar year, or
  • You had at least one employee for some part of the day for at least twenty weeks.

How Much Are FUTA Taxes?

The current FUTA tax rate is 6.0%. This rate is for the first $7,000 you pay each employer for wages. However, this is the federal rate. The state rate may be different. Usually, you can take a credit for the FUTA taxes that you have paid into state unemployment funds. The credit can be up to 5.4%. You are entitled to, the maximum credit if you paid your state unemployment taxes on time.  However, if you do not pay the full amount then your credit may be decreased.

TurboTax will ask you simple questions and help determine if you need to pay futa tax for employees. TurboTax will also help you prepare and make W2 forms for your employees.