Just so you know, we understand: you might think there won't be any tax refund in your immediate future despite having some income your way (maybe you're self-employed with no deductions or credits?). So you're hesitant to even file for a tax return for that exact reason. You may even rightfully think you won't be able to pay that tax bill!
We urge you to consider this: the tax penalties for not filing are much worse. Here's why: let's say you end up with a balance that you have to pay. Know that the IRS will work with you if you work with US. Penalties, though? Once you're hit, you're hit. And there's no getting out of it.
Always file your tax return. Because when you do, you've locked our services in for good, making sure your taxes are paid up through collaboration, installments, payments, communication (if they need to be). So sign up today with the Income Tax Planning Network!
Actually, there should be 11 tax return tips here. But the first one is important. The first tip is to click on this article and READ.
You Heard It From #ITPN: You May Not Need to Pay Any Estate or Inheritance Tax
Of course, this wouldn't apply to just anybody, for obvious reasons. #Taxes are a muddled mess when it comes to exemptions, credits, write-offs, and different kinds of taxes you'd HAVE to pay provided you fall under the specific profile — and you may be wealthy enough where estate or inheritance tax becomes something you'd need to keep in mind. Unless….
Your estate may be valued at $5,430,000 or more! If that's the case, say good-bye to the estate tax. To add more awesomeness, six states levy the inheritance tax: Iowa, Maryland, Nebraska, New Jersey, and Pennsylvania. Two of those states — Pennsylvania and Nebraska — are the only states taxing for transfer of property from an estate to an inheritance.
So, in a nutshell, if you live in four of those six states, and you're quite wealthy, your children are going to be VERY happy with the tax credits when you pass on your property to them.
Learn more here at this link about other types of tax shelters and benefits, and be sure to register with us right now to get that tax return taken care of!
You’re probably wondering what tax shelters are and why they’re so important. Read this and find out how your tax refund could blow up huge!
Boy, competition’s getting fierce up in this real estate market, don’t you think? Home prices are rising. Down payment averages are rising. And the Chinese are still looking to Texas (among other places in the U.S. Let’s face it: America’s looking great. But as Americans, we still want the better bang for our buck! And if there’s one thing that still will cost a pretty penny, it’s a house!
It’s a necessity in the industry to protect the lenders. In fact, that’s what allows lenders to offer such low down payment requirements. But here’s the deal – you, the borrower, still need to pay for it. And many, many borrowers might not even realize that mortgage insurance will come out of your pocket. Plain and simple.
Thankfully, certain home mortgage programs offer competitive prices for mortgage insurance, and FHA is one of them – 1.75% of the loan amount is what you can expect to pay for insurance on a mortgage loan. Not too bad. That’s somewhat better than the VA home loan – another favorable program for low-income situations – with a mortgage insurance percentage of about 2.4%. But did you know there’s one home mortgage program out there that beats even the FHA?
That’s grade A premium beef in the real estate industry, with a percentage of just 2% of the initial loan amount – and to make it even more interesting, the annual mortgage insurance charge is just .5% of the remaining balance over the course of 12 following payments. A much better deal than the .85% annual charge the FHA imposes.
Want to learn more about the USDA home mortgage? Check it out right here. Nothing against FHA, but maybe you want something a bit better. Just make sure you qualify for it! Because when we talk about grade A premium beef cuts, we don’t mean small shanks.
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