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Dołączył: 23 Lip 2013
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Wysłany: Pią 10:52, 16 Sie 2013 Temat postu: hollister Taxes Savings or Debt Reduction Accordi |
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Elizabeth Warren and her daughter Amelia Warren Tyagi wrote a book called "All Your Worth: The Ultimate Lifetime Money Plan", which breaks down budgeting into a simple process to separate wants from [link widoczny dla zalogowanych] needs regardless of income. The rule is 50/30/20. 50% of household budgetshould be spent on needs (housing, utilities, transportation, health care, phone, basic food), 30% on wants (clothing, entertainment, internet, dining out) and the remaining 20% on savings (and 401K, college funds, debt reduction). For most people [link widoczny dla zalogowanych] who do not like to "stick" to a budget, this is a simple method to help a person "stick" to the budget regardless of income.
As we discussed before, the year is divided into four payment periods, or [link widoczny dla zalogowanych] due [link widoczny dla zalogowanych] dates, for estimated tax purposes. Those dates generally are April 15, June 15, September 15 and January 15. If you do not pay enough tax by the due date of each of the payment periods, you may be charged a penalty even if you are due a refund when you file your income tax return. In this regard, paying taxes can be considered a budgeted item to either save a portion of your income (by letting the IRS save for the business) or reducing the debt that is paid to the government of the United States. As a technology savvy user, I am glad the IRS provides [link widoczny dla zalogowanych] a means to help "SAVE" by collecting the payment electronically. (which by the way does not mean a person likes to pay taxes...)
The IRS website states "EFTPS is a system for paying federal taxes electronically using the Internet, or by phone using the EFTPS Voice Response [link widoczny dla zalogowanych] System. EFTPS is offered free by the U.S. Department of Treasury. Over 12 million taxpayers are currently enrolled in the system. Every user must have a secure Internet browser with 128-bit encryption in order to access the site. Since EFTPS began in 1996, [link widoczny dla zalogowanych] there have been over 1.16 billion electronic payments made, totaling over $24.9 trillion! EFTPS offers the convenience and flexibility of making tax payments via the Internet or phone 24 hours a day 7 days a week. "(being helpful yet again)
The website also states that the system can "Schedule tax payments in advance. Businesses can schedule payments up to 120 days in advance. Scheduled payments can be changed or cancelled up to two business days in advance of the scheduled payment date. EFTPS can be used to make all your federal tax payments, including income, employment, estimated and excise taxes. EFTPS [link widoczny dla zalogowanych] payment history is available for up to 16 months online or by calling EFTPS Customer Service."
It is the taxpayers (or the businesses) responsibility to initiate tax payment instructions. Payments will not be processed unless EFTPS is instructed to carry them out. To avoid penalties related to EFTPS payments, [link widoczny dla zalogowanych] the taxpayer is responsible for:
1. Submitting your tax payment to EFTPS by 8 p.m. ET at least one calendar day before the tax due date
2. Recording the EFT Acknowledgment Number received
3. Making sure the bank account contains the funds to cover the tax payment.
If EFTPS.gov is unavailable, the taxpayer is still responsible for making timely [link widoczny dla zalogowanych] payments by phone.
Happy Saving!
Nicole Newman is passionate about seeing businesses grow using technology tools that increase productivity. The digital divide is separating the United [link widoczny dla zalogowanych] States into two communities: technology-savvy and technology-illiterate. With a Temple University bachelor's degree in Management Information Systems, she is [link widoczny dla zalogowanych] armed with solutions.
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