Ron Finkelstein's Articles in Personal Finance - Self Improvement Articles from PositiveArticles.Com

Ron Finkelstein's Articles in Personal Finance

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You Can Reduce Self-Employment Tax... Here's How! Due to the high self-employment (SE) tax all the self -employed people are very annoyed. There is a valid reason for them being frustrated; SE Tax is double the federal payroll tax. A self employed person has to pay 15.3% of SE Tax whereas an employee just pays 7.65% federal tax.A Schedule C filer is in existence which helps in the lowering of SE Tax. The three tips on reducing the SE Tax are as following. The advantages and disadvantages of the schedule are also mentioned in the points to follow. Tax Deductions: Donations and Gifts Whether you use an accountant, a software package, or fill out the forms yourself, it is critical that you understand how tax deductions and credits factor into your income tax so that you don't pay more than you need to. Tax Credits and Tax Deductions - Qualification Limits The adjusted gross income (AGI) and the modified adjusted gross income (MAGI) of a family or individual are major factors that can determine tax benefit eligibility. Having an AGI or MAGI that's out of range can cause denial of certain tax benefits. This can create the same feeling of frustration you get when you can't perform a simple physical task simply because you're too big or too small. Fixed or Adjustable Rate Mortgage: Which One is Right for You? Before applying for a mortgage, learn about the 2 basic types of mortgages you will be asked to choose from: Fixed Rate Mortgages and Adjustable Rate Mortgages Dread Income Taxes No More - Money-Saving Strategies Abound Taxes... Say that word and many people will start to groan when they hear it ...and with good reason. To begin with, paying annual taxes is usually a financial burden for most people. Each time you review your paycheck, you might feel cheated or abused, considering the federal income tax withholding amounts (let's not even mention state taxes or Social Security or Medicare taxes). Worst 10 Cities for Tax Procrastination Do you often procrastinate filing your income tax return? If you do, you're not alone, especially if you live in one of the cities listed below. A leading tax software package provider tallied the returns that were filed between April 14th and April 17th, and these are the cities with the highest number of procrastinators. You And Your Mortgage: When To Refinance, When To Hold Tight A drop in interest rates will attract the attention of both investors and home owners. Those with mortgages understand all too well the relationship between interest rates and monthly payments. As rates fall, home owners will be prompted to evaluate the costs of refinancing versus the benefits over time. They are Both Inevitable, but Taxes Won't Kill You: Getting Them Done On Time Preparing taxes seems complicated but this guide to tax deductions will go a long way in clearing a lot of confusion and putting things in perspective. So if you are among those who procrastinate endlessly to prepare a tax return for your small business, take a look at the guide and it you'll find that it isn't so bad after all... you might just find the energy and drive to get your papers ready in time! Selecting the Right Tax Lawyer Tax law is a highly specialized area of expertise and there are many different types of taxes. Thus, not all lawyers have expertise in all types of tax issues or problems. As a result, it would be a good idea on your part to prepare a bit more in looking for a good tax lawyer than might be the case with other areas of legal expertise.

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