Accuracy Related Tax Penalties

Posted on March 31, 2023 by schatzi

When filing your tax returns, the IRS holds you responsible for the information provided and expects it to be accurate. Whether you do your returns yourself or hire a tax professional to prepare the returns for you, there are significant consequences if the information is not accurate and complete. Therefore, it is of utmost importance that if you are preparing your own tax returns, that you have a keen and thorough knowledge of current tax codes or you hire someone who does. Accuracy related tax penalties can add a considerable amount to your tax debt.

Accuracy Related Tax Penalties

Accuracy related tax penalties (better known as Accuracy Related Penalties) will be assessed by the IRS if they find errors on your tax return. If there are errors on your tax return and the IRS sends you a bill with a penalty, this is a good thing. The only other alternative if there are errors on your tax return is that the IRS believes you intentionally filed your returns with errors to lower your tax liability. This would be considered fraud. Tax fraud is a felony and carries a consequence of up to five years in jail and/or a $250,000 fine ($500,000 for corporations.)

If the IRS believes your inaccuracies are unintentional, the penalty is much lower. Generally, the penalty is 20% of the difference between the original tax debt that you are responsible for with the original filing, and the tax debt that you are responsible for after the errors are corrected. However, the penalty can go as high as 40% (in the event of gross valuation misstatements, meaning you misstate the value of one of your properties by 150% or more.)

For example; you file your returns with errors and a tax liability of $15,000. You are audited and the IRS finds errors that, once corrected, brings your tax liability to $20,000. If you don’t have any gross valuation misstatements, you will be charged a penalty of 20% of the difference, which in this example would be $5,000.

Accuracy related penalties include IRS negligence penalties, intentional disregard penalties, substantial understatement penalties, substantial valuation misstatement penalties, substantial overstatement of pension liabilities penalties, substantial gift or estate tax valuation understatement penalties and understatements related to listed or reportable transactions penalties.

Accuracy Related Tax Penalty Abatements

You may disagree with the conclusion the IRS comes to. Maybe the IRS believes you made an error but you have a reason for reporting on your tax return the way you did. Maybe you contacted the IRS for help with preparing your returns and you were given bad advice by the IRS employee. Maybe you hired someone to prepare your tax returns and the error is on their part. You have the opportunity to present this explanation to the IRS. If they agree, many times, they will reduce or even remove the penalties altogether. Your choice is to pay the full liability that the IRS claims you owe and then present your case asking for a refund of the extra liability paid or you can present your case before paying the full liability and then asking for the penalty abatement. The latter option tends to be risky as the IRS will also be charging interest on the liability owed while your case is being reviewed.

Get Help

For most taxpayers, it is appropriate to hire a reputable tax firm to get help with the accurate filing of tax returns. If you find yourself facing accuracy related penalties because your tax firm was not reputable or you filed the returns yourself, it is also wise to hire a tax professional.

With their finger on the pulse of the IRS procedures and tax codes every day, it is easier for Enrolled Agents to quickly and accurately assess your options and help you obtain the best results that you qualify for with the IRS. While you may be able to resolve the issue on your own, it could take longer and lackluster results may be achieved.

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Atlanta Real Estate Pricing

Posted on March 30, 2023 by schatzi

Suburban properties, golf homes, luxury estates, town homes, condos, luxury estates, equestrian estates and executive homes… this is a peek into luxurious housing options in Atlanta, Georgia. Apartments starting from the humble studio to deluxe apartments are also major attractions on the real estate scene. A vast range, one that ensures that a purchaser should be able to find something that suits his pocket.

The late 1990s and the early 2000s saw a major boom in the real estate market. This was probably based on assumptions of constantly rising prices. High prices bring down sales as fewer people qualify for mortgages. With lesser buyers the prices are bound to go down. Real estate prices are also probably subject to the natural law of “what goes up must come down.” The market has flattened out in recent times. Conservative investment will keep one safe in such a market. Experienced hands in the industry point out that you should invest in proportion with the equity you own. This gives you maximum protection though not necessarily the home you fancy. It will eventually boil down to a choice between a home you can afford and the one you fancy.

Registering yourself with a reputed realtor would be a good idea to keep abreast of properties that come on the market. All good real estate firms have an excellent presence on the Web. A lot of information is also made available on their sites. One can in fact take a virtual look at homes at some sites. Web sites like http://www.realestate.com/ can come in handy.

Several strategies are adopted by real estate agents to arrive at competitive prices. A comparative market evaluation is done by real estate agents to come up with current prices for a property. Some agents however take the sellers asking price and try to project it as the current price. This may or may not get the seller a good deal. A price too high can scare prospective clients away. A price too low will mean that the house may be sold for lesser than current rates.

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Business Web Marketing 101: From Concept to Web Presence Creation

Posted on March 29, 2023 by schatzi

Whether you have an existing business or you are planning to start a new business, the business of web marketing should be high on your list of priorities. The Internet as we know it is vast, ubiquitous and, thanks to mobile computing, it’s in everyone’s pockets. If your business isn’t marketing its services on the web, you are likely losing out on serious revenue. The time to market your business online is now. The following is a short checklist that will help you get your business Internet marketing presence up and running quickly.

Market Research

Without the proper market research, even the most well-thought out business web marketing strategy will likely fail. A business must know its audience through and through and, furthermore, there must be a demand for the brand or the products and services that brand promotes. In the past, the business of marketing was much more difficult. To conduct the proper search, you would have to hire focus groups and design polls in order to put a finger on the pulse of your future prospects. Today, we have social media which makes the entire business of web marketing much easier.

Social media, such as Facebook, Twitter, Pinterest, YouTube and popular online forums are great ways to get into the minds and aspirations of your prospects and customers. The business of web marketing requires you to get to know the men and women you will be marketing to. What better way to get to know your prospects and customers than by monitoring their conversations or even engaging them directly?

Thanks to the tools most people use to keep in contact with friends, family and (good for us) their favorite businesses, products and services, we now have a window into the lives of the very people we will be marketing to. What a time to be alive as a business-to-business or business-to-consumer Internet marketer.

Other Research

To effectively market a web presence online, you must conduct the proper keyword research. Knowing which keywords to use in your marketing materials will help you rank higher in the search engines thanks to search engine optimization (SEO). The proper keywords will also be used in future PPC (pay-per-click) campaigns, which are essential for maximizing your business web marketing efforts.

Google AdWords is one of the most widely used PPC platforms and there is a built in keyword research tool that is free to use. Business web marketing experts from all over the world use this tool to find those keywords that are highly searched for, but that offer the least amount of competition. By competition, we are referring to websites and other online materials that may be using those same keywords in an attempt to garner attention from the search engines through SEO.

Competitor Research

Notice how we haven’t even begun to discuss a website or even graphics, which is typically where the beginner wants to begin. Right now we are merely discussing concepts, ideas and the concepts and ideas that your customers will go gaga for. This requires extensive research, both market and keyword, but it also requires you to research your direct competitors.

When you find the keywords that you plan to use in your business web marketing campaigns, start looking those keyword terms up using Google or similar search engine. Start researching the first few listings that each term yields. These are the websites and pages created by your direct competition. It is recommended that you take what works from these sites and make them better. Now you are ready to market your small business with a website and other materials.

Web Design and Development

Many people think that the business of marketing relies mostly on sight. It’s the images that count, a business-to-business Internet marketing beginner might say. That online marketer might have a point to a degree. The design of your site does matter, as do the colors. Certain colors have been known to elicit certain responses in people and if your website looks like trash, most people aren’t going to bother to stick around.

That being said, your business web marketing presence does not need to be flashy or laden with the best videogame-like graphics. Your website should be simple, pleasing to the eye and the entire presence should mesh together into one cohesive element.

If you are not artistic or if you don’t know PHP from HTML, it’s recommended that you hire someone to do this part for you. While there are many do-it-yourself open source web design platforms online, if you don’t know what you’re doing it’s usually going to show. Don’t skimp on the design. Let the experts do it for you and wow your audience with a design that flows with your overall message.

Content

A business web marketing site should be filled with content that is useful, well-produced and to-the-point. Nobody wants to read a website filled with a lot of fluff, nor does anyone want to read one that is filled with grammar and spelling mistakes. Keep your information short and sweet, go for shorter paragraphs as opposed to longer ones and always have a call-to-action.

State Your Goals

In the business of marketing online, you should always write down and memorize your goals beforehand. With so much information out there and so many techniques to choose from, it’s easy to get sidetracked. When you know where you’re going, you’ll be more likely to get there.

The goal of your website may be to garner more leads, sell a product or service or it may be a squeeze page designed to capture valuable information from your online visitors. Whatever the case, your business web marketing presence should always have a clear call-to-action so that your audience and web visitors always know what to do.

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Guaranteed Personal Loan Approval – The Benefits That You Can Get From Personal Loans

Posted on March 28, 2023 by schatzi

Guaranteed personal loan approval means that you can get your loan approved quickly and without having to wait for days – meaning you can use the money where you want fast. This is important these days because the cost of living is high and sometimes you can find yourself in a situation where you need money urgently.

Today, there are many companies that have minimal paperwork requirement before approval. If you want to have guaranteed personal loan approval you must be able to fulfill all or some of the following conditions:

1. Have a good credit history. If you are not sure about your credit score, before you apply for a loan, get a credit report which will show your status.
2. If you do not have a good credit record, do some credit repair. There are various guides on the internet that can show you how to do this.
3. Have some property or assets that you can provide as security, especially if you want a large personal loan and particularly if your credit history is not perfect.
4. Be able to provide all the paper work which the bank or lender may ask from you. This is normally proof of employment.

If you are able to fulfill the conditions listed above, you are likely to get your loan application approved easily and quickly. However, with payday loans, the loan amounts are small and the approval is almost guaranteed.

So, what are the various benefits that you can enjoy from getting a personal loan?

Personal loans provide additional funds, which can be used to fulfill all our financial needs and requirements. These loans can be borrowed from the banks and lending institutions which charge a certain amount of interest on the borrowed sum.

Many people use cash loans to pay their outstanding debts or use it for the purpose of education or even for paying their medical bills.

These loans can be used for meeting any of your financial expenses, which includes planning for your vacation trip, manage your wedding expenses, buying your dream car, paying credit card bills or even using it for the purpose of home renovation.

Personal loans can prove to be immensely useful if you are planning to start your own business and they can give the much-needed financial security in the initial stages of setting up a business.

People who have a bad credit score can also enjoy the benefits of personal loan except that they may have to pay a higher rate of interest and may need to provide a security to the banks or lending institutions while obtaining loans.

If you have too many bills to pay every month, then personal loans can be used to reduce your burden by consolidating these numerous bills together for making the payment process easier.

What are the different kinds of loans available?

There are mainly two types of cash loans which can be granted to individuals for their personal use. These are secured personal loans and unsecured personal loans. Secured loans provide an easy option to the borrowers with lower rates of interest and give them access to a greater amount of loan. However, a secured loan requires the individuals to pledge any of their movable or immovable asset as collateral with the bank or lending institutions. This provides them a greater sense of security for providing loans to individuals and helps in gaining confidence in the borrower’s repaying abilities. People who have bad credit scores and outstanding debts can also borrow money by providing collateral to the banks in this manner.

Unsecured personal loans places a greater amount of risk on the lender as the loan amount is not secured against any collateral. Hence, banks and other lending institutions usually charge a higher rate of interest on such loans. They also check the creditworthiness of the individuals before providing them with the loan. Due to the increased risks in instances where the loan is not secured, the loan amount which is given is generally smaller as compared to secured loans. These kind of loans are suitable for people who require limited amount of cash and who do not own a house or any assets which can be pledged as a security.

With the changing times, it has become easy to get personal loans as there are plenty of personal loan companies, most of which have guaranteed personal loan approval.

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