With April comes spring and tax time.
In 2018, you'll need to file by April 17 or face fees. But don't sweat too much if you can't afford to pay all your taxes at once. The Internal Revenue Service, or IRS, is often willing to work with you to help you pay your taxes without being penalized. That said, it's best not to avoid filing or paying. This bill won't just go away, and you'll accrue more and more late fees and interest the longer you let it sit.
Option 1: Pay by credit card or get a personal loan
The IRS allows several types of payment for your taxes, including a credit card. This isn't the best solution overall. You're essentially trading debt for another type. But if your situation is that you are able to pay, but don't have all the funds right now, a credit card is probably your fastest solution. (Unless your tax amount is too much for your card, then you'll need to consider another option.)
Pay your taxes with your card, and then pay off as much of the balance as you can until you're paid again. You'll still accrue interest on your card, but this amount might be lower than what the IRS would charge if you failed to pay or entered into an installment plan. The same may go for a personal loan from your local bank.
The stress of tax season can be overwhelming, but there are a few options to consider undsgn.com
Option 2: Set up an installment plan
As long as you meet certain requirements, you can set up an installment plan with the IRS to pay over time. And depending on how much you owe, you can even apply without having to talk to a person. If your bill is less than $50,000 in individual income tax, penalties and interest, you can apply for an installment plan online. You can also apply with federal form 9465. If you owe more than $50,000, you'll have to talk to an IRS agent to find out your next steps.
You'll be charged associated fees for entering into a plan, but these will be less if you sign up online. And even less if you agree to direct debit each month. You have to file all your tax returns before you apply for an installment plan. You'll usually be notified within 30 days if you've been accepted.
If it were only so simple... assets.pcmag.com
Option 3: Ask for additional time
Based on your particular circumstances, you might be granted additional time to pay in full. You can make a request like this online, by calling, or by talking with an IRS agent in person. If you're insolvent or unable to pay due to circumstances beyond your control (like unemployment or disability), the IRS is willing to work with you on your payments. You might be eligible for an officer in compromise, which will let you pay less than the actual amount you owe. These options are completely dependent on your unique situation and you'll be able to determine your next steps by communicating with the IRS.
Taxes are never fun, but they don't have to be a financial strain. The IRS has several payment and financing options if you're unable to pay in full by April 17. In extreme situations, you can talk to an IRS agent about reducing the amount you owe or setting up a payment plan. The key is: don't let your taxes sit. If you fail to file by the deadline, your interest and late fee penalties will be more than if you do file and request a different financing option.
Airbnb offers an affordable option for people looking to be more comfortable as they travel.
However, there are downsides to staying in a host's home rather than a hotel. Whereas hotels are designed for constant streams of visitors and often have furniture built to last, at an Airbnb, you may be staying on old or cheap furniture that a host is using in order to maximize their profits.
And while most reputable hotels will have regular room inspections from staff to check for any wear and tear, Airbnb damage disputes are oftentimes he said, she said situations. If you are in an Airbnb and something breaks, there are a few steps you should take in order to ensure that you are not on the hook for damages out of your control.
If you're keeping tabs on the art and tech worlds, you've probably been hearing whispers about "NFTs" for the past month. Just over the past week they've entered the mainstream lexicon.
Twitter founder Jack Dorsey made the news for selling his first ever tweet. The app has been teasing paid subscription models and newsletter-like features, but tweets for sale is "the next frontier."
just setting up my twttr— jack (@jack)1142974214.0
The 2006 tweet went up for auction as an NFT, and the current bid is $2.5 Million. But what does it mean to own that? Why would anyone want to? And what even is an NFT?
Long gone are the days when the majority of Americans dreamed about owning a home with a white picket fence.
The traditional American Dream may be on its deathbed, but that doesn't mean a core component of the vision can't survive. It simply takes a diverse perspective. People can still believe they can attain their own vision of success in society with hard work, knowledge, and risk-taking. Investing in today's American Dream may literally mean investing money in our modern economy, starting with our infrastructure.
Real estate investing in particular is a lucrative method that can boost income and secure a better financial future for many. There's always risk involved, but the payoffs can far outweigh the uncertainty. Selecting solid financial investments is about confidence and competence. If you're looking for some advice on this kind of investment, here are a few savvy tips for new real estate investors.
Stick To a Specific Strategy or Niche
Real estate is a challenging sphere of the business world, one that requires several key skills: groundwork knowledge, networking, perseverance, and organization. True knowledge of the real estate market will come with time and experience, but it's a smart idea to select one area of the market and stick to it. This is the best way to attain in-depth familiarity with your specific niche.
First, choose a geographical area close by and then a niche strategy within it, such as house flips, rental rehabs, or residential or commercial properties. By doing so, you can become aware of current inner working conditions in the market and you'll have a better idea of how these trends may change in the future.
Be Vigilant About Viable Financing Options
While it takes money to make money, you don't have to use all your own money. A common misconception about real estate investing is that you must be wealthy to start off. This isn't straight fact, however. A majority of people can test the waters of real estate investing without a lot of initial cash in their pocket.
Aside from traditional financing options from banks and institutions, private lending options can be worthy solutions. Hard money lenders are popular, reasonable choices, and they tend to have fewer qualification requirements upfront. However, be sure to strategically choose a hard money lender to find the best possible fit.
Master the Art of Finding Good Deals
There may be hundreds of thousands of available properties for sale on the current market, but the bulk of them will never amount to the final money-making result you desire. Another great tip for new real estate investors is to use good math to estimate profit. Taking risks is part of the process, but you have the ability to analyze properties and use networking sources to find the greatest deal. You can't win every deal, but you can steadily work towards a thriving financial future.