Press "Enter" to skip to content

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…)

Why You Need a Divorce Lawyer

If your marital relationship comes to an end, and each party feel like it is a chance to get a divorce, there is no need to hire a divorce lawyer to deal with your case. It is possible to file for a divorce on your own using many of the DIY divorce kits when there are not any kids involved , and if the marital assets can be separated as each party want . When you have children, when one or even the other protests the divorce process, or in case you have so many assets to split, it is best to hire a divorce lawyer.

A divorce lawyer can file the right paperwork to make sure that you receive your fair share in the divorce process. This is also true when your husband or wife is against the divorce or even disagrees with certain criteria of the separation, like custody of kids or even splitting of the marital assets. (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.

 

 

Can Bankruptcy help avoid foreclosure

Bankruptcy is a procedure created by the federal government with the intention to help people, both consumers and businesses, to beat off their debt. You can find various kinds of bankruptcy which can be filed. In certain cases, debts are paid out of the individual or even company’s assets.

In other forms, the debts are reconstructed to facilitate the individual or company repays the debt in a manner that they are able to afford. Often, they are known as liquidations while in other cases they are generally known as reorganizations. In any case, they are a critical, and financially life changing situation that cannot be taken lightly.

Such a bankruptcy is one for companies. It is designed for corporations and partnership. Those who file this will file for a reorganization of the debts they have accrued. You must pay down your debts during a period of time, while all property is kept. Typically, the business is still running and kept up, but debts are restructured to allow them to be repaid in the long run.

Each state defines what property is permitted to keep throughout a bankruptcy but in many instances, it is viewed as a secured debt. When you are in fine standing with the lender, most likely you will have the ability to keep the home in case you keep making payments.

With the most recent bankruptcy laws which have been set in place, it is now not just common but essential for you to hire a foreclosure lawyer to help you all through the process. They can assist you meet timelines and guidelines and they can help you qualify to be a filer , as many individuals are trying to find out they are not eligible due to new laws .

In many cases, bankruptcy is the most effective thing to help avoid foreclosure. Be mindful with it . New laws simply allow you to file bankruptcy in serious situations.