Sawin & Shea

MARCH 20, 2024

You may be wondering whether you should opt for a tax attorney or a bankruptcy attorney. This page addresses the most common questions about selecting the right attorney to help you address your tax problems and other financial concerns. What’s the Difference Between a Tax Attorney and a Bankruptcy Attorney?

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Sawin & Shea

JANUARY 19, 2022

Filing your taxes and filing for bankruptcy are two things that can be confusing and challenging on their own. Filing your taxes after filing for bankruptcy is not as complicated as it may seem, and if you are still confused after doing some research, you can always reach out to a bankruptcy lawyer. Tax Debt and Bankruptcy.

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Credit Corp

MARCH 3, 2023

Paying your taxes is never easy, especially if you owe a large sum of money to the IRS. In these cases, you may be tempted to pay your tax debt using your credit card. But can you pay your taxes with a credit card? It’s important to understand the benefits and drawbacks of using your credit card to pay your tax bill.

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Credit Corp

FEBRUARY 9, 2024

After a long year, tax season is finally upon us. You’re probably getting all your ducks in a row—collecting all the information you need, choosing your tax software, and so on. If you’re a homeowner, you might be able to catch a few tax breaks—but can you get a tax break for buying a house?

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Credit Corp

APRIL 5, 2023

Roth IRA A Roth IRA is a type of individual retirement account. So, it can be a good alternative way to save for retirement if you want to defer your tax benefits until you retire. Unlike a traditional IRA, you can make contributions into a Roth IRA account on a post-tax basis.

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Roths Child Law

FEBRUARY 29, 2024

Personal bankruptcies do not cover all types of debt While Chapter 7 and Chapter 13 bankruptcies can help with many debts, they won’t necessarily cover all of your debts. Outstanding taxes Most kinds of tax still need to be paid, even by those who successfully file for bankruptcy. It depends on what your debts are for.

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Credit Corp

FEBRUARY 9, 2023

How are bonuses taxed, and how much will the IRS take out of your bonus? Keep reading to learn more about how bonuses are taxed and what steps you can take to minimize this tax burden. how are bonuses taxed In This Piece How Are Bonuses Taxed? For example, do you owe taxes on unemployment ?

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UK debt collections

NOVEMBER 28, 2023

billion in unpaid taxes over the next six years. According to Treasury estimates, the injection of cash will help HMRC’s debt management team recoup £515million in taxes in 2024-25. By 2025, over £1billion worth of unpaid taxes will be recovered according to the announcement in last week’s Autumn Statement.

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Credit Corp

MARCH 16, 2023

Taxes don’t directly impact your credit. However, how you manage your tax debt and pay your taxes can have an impact on your credit history and score indirectly. Find out more about taxes and credit below, including whether filing a tax extension can hurt you. However, tax debt doesn’t work the same way.

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Credit Corp

JANUARY 10, 2024

Federal tax brackets are specific taxable income ranges that dictate what your tax rate is. There are different filing types and different ranges for each one, so to determine your federal tax bracket, you must first know if you’re filing as single, married filing jointly, married filing separately or head of household.

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Credit Corp

JANUARY 10, 2021

It’s the most wonderful time of the year—time to receive your tax documents! Ok, maybe it’s not the most wonderful time of the year, but it is an important time to keep an eye on your mailbox for documents marked “important tax return document enclosed.” What Does “Important Tax Return Document Enclosed” Mean?

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Burr Forman

JULY 26, 2021

Corporations, limited liability companies, and certain other business entities can make an election with the Internal Revenue Service to be taxed under Subchapter S of the Internal Revenue Code. One of the perceived benefits of owning and operating a business through an S corporation is potential employment tax savings.

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Nerd Wallet

JUNE 16, 2021

There are two types of deductions: voluntary deductions, like health insurance and 401(k) deductions, and mandatory deductions (those required by law), like federal income taxes and FICA taxes. Payroll deductions are the specific amounts that you withhold from an employee’s paycheck each pay period.

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Nerd Wallet

MAY 6, 2021

This article has been reviewed by tax expert Erica Gellerman, CPA. It’s likely that you’re familiar with what bookkeepers and certified public accountants do, but these aren’t the only types of financial professionals available to business owners. Matthew Speiser writes for NerdWallet.

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Nerd Wallet

MAY 14, 2021

This article has been reviewed by tax expert Erica Gellerman, CPA. When choosing a business entity for your company, taxes are paramount. The amount of taxes you’ll owe to the government is directly connected to your business entity structure. The article How Do Limited Liability Companies (LLCs) Pay Taxes?

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Nerd Wallet

SEPTEMBER 7, 2022

LLC is a popular type of business entity structure among small-business owners because it offers a combination of flexibility, legal protections and tax advantages. There are nearly 4 million small businesses in California, making the state a leader in entrepreneurship. California has one of. Priyanka Prakash writes for NerdWallet.

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Sawin & Shea

FEBRUARY 28, 2024

When filing for bankruptcy, you can discharge certain types of personal loans, meaning that you’re no longer legally responsible for paying off the debt. Types of Personal Loans According to Business Insider, a personal loan allows you to borrow a specific amount of money via digital or cash deposit for different purposes.

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Nerd Wallet

JUNE 29, 2021

For those with large estates, a common question that comes up when planning for the future is how to minimize or avoid estate and gift taxes when transferring assets to heirs. Specifically, a type of irrevocable trust called a grantor retained annuity trust, Tiffany Lam-Balfour writes for NerdWallet.

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Nerd Wallet

SEPTEMBER 8, 2021

A 529 plan is a type of savings and investment account in which money grows tax-free as long as the withdrawals are for qualified education expenses. A 529 plan can be a great way to save for college, if you know the rules and how to optimize your investment. What is a 529 plan? They are named. Alana Benson writes for NerdWallet.

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Troutman Sanders

JULY 27, 2023

In this episode of Payments Pros , Josh McBeain welcomes his colleague Andrew Thurmond to discuss residential solar projects as well as the financing and payment options that are available for these types of projects. Josh and Andrew discuss these options and what to consider before developing solar payment programs for consumers.

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Sawin & Shea

MARCH 21, 2023

If you’re struggling with overwhelming tax debts, you should consider all of your financial options , one of which is filing bankruptcy Chapter 13. With Chapter 13, you can pool all of your debts, including some types of tax debts, into a three-to-five-year repayment plan. Does Bankruptcy Clear Tax Debt?

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Payment Savvy

JULY 18, 2023

It’s also sometimes referred to as a Federal Tax Identification Number (FTIN) or simply a Tax Identification Number (TIN). Estates and Trusts – Estates and trusts, including those created after an individual’s death, often require an EIN or TIN for tax reasons. Who Needs an EIN?

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Credit Corp

JANUARY 5, 2021

From early January to mid-February, you might receive a number of tax documents in the mail. Make sure to consult with your tax professional for your specific situation. Make sure to consult with your tax professional for your specific situation. It doesn’t necessarily mean that you will owe a lot more in taxes.

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Credit Corp

MAY 3, 2021

NOTE: Due to the COVID-19 coronavirus pandemic, the IRS has extended the federal tax filing and payment deadline to May 17, 2021. The recent relief package passed by Congress may have additional tax implications. Please contact a tax adviser for information you may need to complete your taxes this year. Learn More.

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Nexa Collect

FEBRUARY 28, 2021

The benefits of cost segregation studies and their reports consist primarily of accelerated tax deductions for depreciable property , refunds, deferred taxes, and catch-up tax deductions for properties placed in service years ago. Types of buildings within the portfolio. What are the benefits?

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Nerd Wallet

MAY 23, 2022

Equipment leasing is a type of financing that lets you use a piece of heavy equipment for a set period of time. The article Equipment Leasing: What It Is, How It Works and Tax Implications originally appeared on NerdWallet. But if you’re going to need. Rosalie Murphy writes for NerdWallet. Email: rmurphy@nerdwallet.com.

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Credit Corp

OCTOBER 7, 2020

Most years, the deadline to file your federal income tax is on or around April 15. If you miss this deadline, you can request to file on the October 15 tax filing deadline instead. There can be consequences for filing late, but the type of penalty depends on several circumstances: Did you request a tax extension?

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Credit Corp

APRIL 3, 2023

However, this type of plan isn’t right for everyone. Quick Answer : 529 plans are tax advantaged savings plans to help pay for educational expenses. Types of 529 Plans Tax Advantages of 529 Plans How to Open a 529 Plan How Much Does a 529 Plan Cost? The most popular type of 529 plan is the savings plan.

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Burr Forman

JULY 21, 2021

President Biden has proposed major changes to the Federal tax laws, some of which are sought to be effective earlier in 2021 (i.e., As Congress is now considering these tax law change proposals, the following is a summary of some of the most important: Increase the corporate income tax rate from 21% to 28%.

Trade 59

Trade Loans 59

Jimerson Firm

JUNE 29, 2021

Florida residents can register their primary residence as a homestead under the Homestead Exemption and receive asset protection from creditors and up to $50,000 in property tax exemptions. As discussed by the Florida Supreme Court, there are three types of liens that fall outside of the Homestead Exemption. Dumoulin, 55 So.

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Sawin & Shea

JANUARY 18, 2023

You’ll also need to supply the bankruptcy court with a list of creditors, an income statement, and copies of your tax records. Whether or not you qualify for Chapter 7 bankruptcy will depend on your income. They will work with you to gather your financial records, including all of your debts, expenses, assets, and income streams.

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Credit Corp

MARCH 16, 2023

Do you think it’s possible someone stole your tax refund check? million people reported cases of identity theft, and around 400,000 of those involved the theft of government benefits or documents —including tax refunds. Then learn what action you should take if you believe your tax refund was stolen. You wouldn’t be alone.

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Credit Corp

JANUARY 19, 2021

As of November 2020, the IRS had received more than 168 million tax returns for the 2019 tax year. More than 72 million—roughly 42%—were self-prepared tax returns. Discover how to do taxes yourself in the guide below so you can decide if self-preparation is the way to go for you. 10 Steps for Doing Taxes Yourself.

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Nerd Wallet

MARCH 17, 2021

A common business accounting question that tax practitioners often hear from small-business clients is “Why doesn’t my business get a tax refund?” Taxpayers, in general, receive a refund only when they have paid more tax than was due on their return. However, just like there are different types.

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Nerd Wallet

APRIL 30, 2021

Unless you’re a lawyer or tax expert, the differences between each type of business entity can be hard to understand in real-life terms. Choosing a business entity structure for your company is one of the most important—but potentially most confusing—decisions you’ll make as a small business owner.

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Credit Corp

MARCH 25, 2024

This guide will explore how interest rates are calculated and how they apply to different types of loans. This works for credit cards but not all types of loans. Different Types of Interest Rates Interest rates have different nuances depending on the type of loan they’re tied to. What Is Interest?

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Nerd Wallet

JUNE 15, 2021

Choosing the right business entity is important for your tax implications and legal recognition in your state of operation, as well as the protection of your personal assets as a business owner. Among these types of business entities is an LLLP, or limited liability limited partnership. It’s a newer type of business entity that’s not.

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