Learn about financial planning here Blog: Oct 11, 2007

The secret of real estate taxes

#
The Importance of Paying Employer Payroll Taxes

Are you planning on starting your own business? If so, it is good to find things out about the business beforehand so that you don’t make any costly rookie mistakes. After all, some people who start fresh often lose their businesses if they don’t handle things properly. Some even end up paying hefty fines and going to jail over their mistakes. To make sure this doesn’t happen to you, you should learn as much as possible.

One of the things that you need to know very well is the taxes that you’ll need to pay. For example, most new business owners don’t realize that they will have to pay some of the payroll taxes. They assume that it all just gets taken out of their employee’s paychecks. Well, that’s wrong. In reality, your company is responsible for paying half of the FICA taxes. If you don’t you could be in quite a bit of trouble. These are the employer payroll taxes that you must pay in order to be a legally sound company.

The FICA taxes are very specific. It is the employer payroll taxes for both social security and Medicare. When it comes to social security, you are allowed to withhold 6.2% of your employees’ earning. That portion will go toward paying that tax. Then it is up to you to pay an additional 6.2%. Essentially, that means that both you and the employee are taking equal responsibility in paying that tax. Then, with Medicare, you each pay 1.45% separately. In other words, your portion of the FICA employer payroll taxes will equal 7.65%. This is what your company is responsible for when it comes to all of your employees. You need to do this for each of them.

How much of the employer payroll taxes have a lot to do with how much you pay your employees and how many employees you have to begin with. The bigger your company is, the more you will pay in these taxes. This is necessary and a good thing for your company.

To make sure that you are paying the right money in employer payroll taxes and that you are taking the right amount of taxes out of your employees’ checks, you should use a combination of software programs and accountants. This is especially the case when you have a large company that has many employees. The more employees you have, the more likely you are to make a mistake with the calculations in regards to taxes. Since this can cause a lot of problems, it’s better to get them right the first time.

#

online taxes Resources

#
All the Different Ways to File Your Taxes Online

As the tax season approaches, more and more people are beginning to worry about how they are going to file their taxes. As many people are going to mail their taxes through the mail, you may want to file your taxes online! For many, filing their taxes online may be much easier and quicker!

As most people are not aware of, there are many different ways to file your taxes online! In fact, there are many different ways of even filing your income taxes! Mostly it is a matter of what you want, and how quickly you want to file your income taxes. In fact, it does not matter to the state or government how quickly your taxes are filed, all they care about is that they are filed by the due date.

It is not hard for people to find all the different ways to file your taxes online. In fact, one of the ways to find all the possibilities of filing your taxes online is to go directly to a tax preparation business; and ask them. Many times when you file your taxes online with the tax preparation company, they will give you all the different options when it's time for the filing.

Another way that people are filing their taxes is by e-filing; just not through a tax preparation agency. Most of the time when people e-file their taxes, they purchase tax software; that requires to be downloaded onto the computer. It is extremely easy to file your taxes online using taxes software. Another way that you can file your taxes online is by using the websites that the government offers. Not only are the websites free to use, by they are also easy and quick!

Because there are so many different kinds of taxes software that can be purchased, it is best if you do some comparing between them all before you purchase one. However, one of the best known tax software that can be purchase is TurboTax. TurboTax not only helps you file your taxes online, but it explains every step of the way until you are completely finished. Also, there is not only one tax software; there are a couple different tax softwares that can be purchased. That is to make it possible to match the software for your needs of filing!

Once you decided that you wanted to file your taxes online, all you have to do is figure out if you wanted to do them yourself or if you want to hire someone! Either way, your taxes have to be filed!
#

financial planning - Suggestions

Burlington approves property tax relief for elderly, disabled ... - Farmington Valley Post

Thu, 11 Oct 2007 16:17:32 GMT

Burlington approves property tax relief for elderly, disabled ...
Farmington Valley Post, CT - 9 hours ago
The reduction is from real estate on the grand list effective Oct. 1, 2007. Veterans living in Burlington also qualify for a similar property tax relief ...