Archive for the ‘Tax’ Category

How to be tax efficient when you are self employed

Monday, December 10th, 2012

 tax efficient, tax tipsWhen you are self employed you often have the idea of tax evasion but that is not always possible. With the introduction of the IRS audit the option of avoiding tax is almost gone. That is why it is better if you review all your taxes after every month or after a quarter. If you review for the coming quarter in the present one then you would know exactly what amount you have to pay and you can start to save accordingly otherwise the deductions and refunds may well turn into penalties which you would have to pay.

The best way to be tax efficient when you are self employed is supporting each and expense of the business with a voucher or a bill. This will give you a physical proof and you will be able to appeal for tax reductions when they send finally in your tax payment papers.

How to build a profitable tax lien portfolio

Sunday, October 28th, 2012

profitable tax lien portfolioThere are a few things that need to be considered when you are making your tax lien portfolio. The first that you need to do is figure out the purpose of the portfolio. It is important to make a determination of the certificates of tax lien, deeds of the taxes, and the deeds of the taxes that are redeemable. It is one of the major factors that decide the area of your investment and the strategy of your bidding. It will also influence your profit making later on.

Another important thing you have to do is determine the area of your investment. Then, it is very important that you acquire all the information regarding tax sale. You have to be diligent regarding the properties of your tax sale. It is very important that you get all the paperwork that is important in perfect order so that there is no problem in creating your tax lien portfolio.

The advantages of tax relief companies

Tuesday, October 23rd, 2012

 tax relief companies, taxIf you need to deal with some tax and debt issues, the first thing that you need to do is hire a reputed tax relief company. There are a lot of people who thing that they can handle tax and debt issues themselves, but what you have to understand is it might not be possible to understand the jargons of tax laws, tax amendments, special provisions and tariffs. Not understanding the jargons can cause a lot of confusion and anxiety and a tax relief company will ensure that you are not plagued by such anxieties.

Moreover, the tax relief companies have experts working with them and these experts will handle the tax and debt cases on your behalf and work to make sure that you get the best possible outcome. The companies also employ lawyers who are well versed in tax laws and the procedures that have to be followed in case of tax problems.

An account on tax lien investing

Sunday, September 16th, 2012

 tax lien investing, tax tipsEveryone wants a good and healthy life after retirement. They seek bliss and satisfaction. But sometimes people fall prey to the vicious loan cycle. If you’re unable to pay off within the given time and you might try negotiate with your loan providers or agency. If that doesn’t work, then start looking for your tax lien investments. Read on to know more about these.

If you have a retirement account, you can use a tax lien service. You need to consult your state laws if you want to know the exact procedure of how it works. A tax lien is provided by government agencies when a tax paying citizen is unable to pay his or her debts. You can use your self directed IRA funds for this venture as that would be beneficial for you in the long run as well. You don’t have to part with any kind of extra money too.

Appeal your property tax in the right way

Sunday, July 22nd, 2012

Property tax, taxA lot of people end up paying a higher property tax than they should just because they do not take certain necessary steps to ensure that they are paying the correct amount. After all it is your money that goes to the government so you have the complete right to understand how much you are liable to pay and on what basis. You must ensure that you appeal for your property tax in the right way.

First and foremost correct the factual errors if any in your tax assessment. When you take an appointment from the assessor make sure you are carrying photos, proofs, and other relevant documents that will stand in support of your claims on the due date. Since mistakes usually happen during investigations your pre planning can reduce the factual mistake element. Secondly ask questions and try to understand how your property is being assessed. Check the value of your property with your neighbors or check it by way of market valuation approach to know how the local officials have calculated your property’s worth. If you ensure execution of these suggestions then you are sure to win the appeal.

How Can One Avoid Stamp Duty?

Saturday, June 9th, 2012

Tips to avoid stamp duty, property tipsMostly foreigners and rich people avoid stamp duty by putting their houses into companies which is highly unethical and illegal. Stamp duty land tax which is formerly known as stamp duty is supposed to be paid on every leasehold and freehold property. The rate of the duty ranges from one percent to four percent depending on the purchase price of the particular property. There are few legal procedures to minimise the tax duty again that too is dependent on the type of property one buys. A solicitor starts his work in this matter.

If you are a first time buyer then choose to buy one costing not more than 250,000 pounds. Both should be first time buyers in case of partnership plan and it must be a residential purchase. You can also buy a property in a “disadvantage area” up to the value of 150,000 pounds in order to promote regeneration of certain areas. Also it is highly advisable to sift though the HM revenue and customs or the government websites to know the rates and discounts one can avail. There is another plan which you can adopt. Buy an area that qualifies as the ‘zero-carbon’ home. This property should possess sufficient renewable sources to cover its average consumptions of gas and electricity.

All about Tax Lien Investment

Saturday, May 26th, 2012

Invest in tax liens, investmentsTax lien investment is related to property investment in some ways, but the rules of returns are very different. The gurus who are big investors will tell you that tax lien is “government guaranteed”, showing that you shall not suffer any losses, but that is not true. Every investment has risk involved; this one has an even larger risk. Very few properties are kept for bid for tax lien investment, and maximum of the cases the owner redeems the property.

One needs to learn how to invest in tax lien, get some experience and then invest big. The benefit of tax lien is that you get to initiate investment with small amounts first. Getting foreclose on a property is very rare, so you also need to be lucky to get the benefits of lien investment. The high risk factor is what keeps most of the investors away from tax lien investment.

How to build a profitable tax lien portfolio

Thursday, May 3rd, 2012

Tax lien tips, investmentsNow days, while investing money in anything one thinks about the profitability of the venture they are investing in. You will surely not like to invest in something that will not provide you with any profits. Tax lien investment is one of the safest investments that one can do. If a land owner fails to pay the property tax, the government tries to find out an investor for paying the taxes penalties. In return the investor gets back the amount paid and also the interest on the amount. If the owner fails to pay back, the investor then he can take hold of the property in return of his money.

Thus, tax lien is one of the safest places for making some investment. For investing in the tax liens one needs to hold a good portfolio. Building a portfolio can be done pretty easily. All you need to do is to invest in small ventures and gain some profit from those investments. For building a portfolio, you will need to contact the experts of this field. They will guide you through the steps involved in creating a good portfolio.