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What You Need to Know About Debt Management Plans


by Jill Bridges on May 24, 2019  0 Comment

What You Need to Know About Debt Management Plans
Debt management plans are a popular form of debt consolidation. A credit counseling agency will arrange a plan with your creditors, and then you'll make a single payment to your agency. Debt management plans can take up to five years to pay off. If you find yourself in debt, it's important that you find the most effective solution possible for clearing your debt and getting your life back on track. While it might not be the right choice for everyone, many people can benefit from enrolling in a debt management plan. A debt management plan is a way of negotiating with your creditors to help you pay off your debt. If you want the most beneficial plan, it's important to ...

Understanding Business Tax Debt


by Jill Bridges on April 02, 2019  0 Comment

Understanding Business Tax Debt
When you run a business, you probably have a lot on your mind every single day. In addition to making sure that your company is successful, you want to be certain that your employees and customers are happy and you're meeting all legal requirements for your business, including correctly filing your taxes. Filing taxes can be difficult for even the most experienced business owner, and unless you're a large corporation with a dedicated tax department, it's likely that you'll be handling your business taxes on your own. Fortunately, managing your business taxes isn't as difficult as you might imagine, especially if you keep a few important facts in mind. Learn how to file business taxes correctly so that you can ...

What’s the Average Credit Card Debt for College Students?


by Jill Bridges on April 02, 2019  0 Comment

What’s the Average Credit Card Debt for College Students?
College is an excellent time for students to begin learning about responsible money management and credit. By using credit cards responsibly, students can graduate with no debt and a top credit score that will help them buy a house, get a business loan, or save money on interest in the future. Unfortunately, students without money-management knowledge and experience can easily build up a high balance on credit cards. In 2016, more than 30% of students carried an average credit card balance of $2,573 on top of their rising student loan debt that will need to be paid back. Although that amount is lower than the average balance of $8,184 for credit cards in the United States, it can still be a scary ...

Ohio State Tax Lien on Credit Report


by Jill Bridges on April 01, 2019  0 Comment

Ohio State Tax Lien on Credit Report
The Ohio state taxing authority has the ability to place a lien on your property in order to collect back taxes. Liens appear on your credit report and stay there until the lien has been removed. If you have a lien on your credit report, it can interfere with your ability to get a loan and your overall financial security. If you live in Ohio and owe taxes, a tax lien can be filed to collect the outstanding tax debt. Liens were created to give the government the right to claim your property if you don't pay your taxes, When a tax lien is filed, it becomes public record, which means that credit reporting agencies can see it. Find out ...

Where to Go For IRS Govt Tax Help


by Jill Bridges on April 01, 2019  0 Comment

Where to Go For IRS Govt Tax Help
Dealing with the IRS can be complicated, which is why the agency offers several resources to assist taxpayers. You can get information about tax issues directly from the IRS by visiting their website, calling a representative by phone, or mailing a letter. Taxpayers can also get assistance from paid tax professionals such as tax attorneys and tax resolution specialists. Tax season is a stressful time, especially if you have a lot of information to sort through. If you're not an expert on taxes, the tax process can be overwhelming, but the IRS is there to help. If you need guidance completing your tax return, need to check on your refund status, or have questions about another tax issue, you can ...

Do You Need a Wage Garnishment Lawyer?


by Jill Bridges on March 27, 2019  0 Comment

Do You Need a Wage Garnishment Lawyer?
Wage garnishment is one of the many ways that the IRS can collect back taxes. Hiring an experienced tax attorney is the most effective solution for ending wage garnishment. A lawyer can challenge garnishment on several grounds, including that too much money is being garnished. Being subjected to wage garnishment — a process that allows a creditor to hold a portion of your wages to settle the debts you owe — can be stressful. You may be wondering if you're better off challenging the garnishment on your own, hiring an attorney, or simply enduring. With many states legally allowing up to 65 percent of take-home pay to be withheld in the case of wage garnishment, a lawyer may be the ...

IRS Wage Garnishment Calculator


by Jill Bridges on March 27, 2019  0 Comment

IRS Wage Garnishment Calculator
Wage garnishment occurs when the IRS automatically takes money from your paycheck to collect back taxes. The IRS provides a wage garnishment calculator to determine the correct amount of wages to be withheld from an employee's paycheck. The IRS can take as much as 70% of your wages until your debt has been repaid. Each year, the IRS mails millions of wage garnishment notices and collects millions of dollars in back taxes. Wage garnishment is a way for the IRS to collect the back taxes you owe by withholding a specific amount from your wages. Many other types of creditors can use wage garnishment to collect a debt owed to them, but IRS wage garnishment doesn't follow the same regulations ...

Tax Resolution Fees


by Jill Bridges on March 27, 2019  0 Comment

Tax Resolution Fees
When you hire a tax resolution specialist, you may need to pay a variety of fees. While some specialists charge a flat rate, others charge fees based on the services they perform. Fees for businesses tend to be higher than fees for individual taxpayers. If you have tax debt and need to hire a tax professional to help, you may be wondering how much your tax resolution is going to cost you. The quotes from different firms can vary widely, so it's important to know what to expect. Before you hire a tax resolution firm to provide tax relief services, take a look at your tax resolution options and their requirements. Tax Transcript and Compliance Check In many cases, a ...

Do You Need a Tax Resolution Specialist?


by Jill Bridges on March 27, 2019  0 Comment

Do You Need a Tax Resolution Specialist?
A tax resolution specialist is a professional that helps taxpayers deal with problems with the IRS. You can hire a tax resolution specialist for almost any issue, including audits, levies, and liens. When hiring a tax resolution specialist, you should look for a professional with experience, fair pricing, and the right certifications. If you find yourself in tax trouble, you're not alone. According to the IRS, one out of every 15 taxpayers has a tax problem of some kind, which can be a time-consuming and intimidating experience. While taxpayers are free to represent themselves before the IRS regarding their tax problems, this isn't always the best course of action. The IRS tends to be inflexible in dealing with people who ...

Chapter 7 vs Chapter 13 Bankruptcy: Which Is Best for You


by Jill Bridges on March 26, 2019  0 Comment

Chapter 7 vs Chapter 13 Bankruptcy: Which Is Best for You
Chapter 7 and Chapter 13 are the two most popular types of bankruptcy for individuals. Chapter 7 is only available to those who don't have the means or assets to pay their debts. Chapter 13 allows you to pay off your debts with a payment plan that takes up to five years. If you're living under a mountain of debt, it may seem like you'll never be able to pay off everything you owe. Some people's debt can be so severe that declaring bankruptcy is the only way to clear their debt and put themselves back on stable financial footing. For individuals, there are two primary forms of bankruptcy: Chapter 7 and Chapter 13. Most people have at least heard ...

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