If you’re currently searching for an experienced injury lawyer, it’s well worth visiting http://www.farzamlaw.com/ to see how Farzam Law Firm’s team of talented lawyers can help you seek compensation for an injury which you’ve recently incurred.
How Do I Pay My Estimated Quarterly Taxes
Do you have trouble calculating quarterly estimated tax payments? Here are some helpful tips to make the process much easier and less stressful.
If you’re newly self-employed and unfamiliar with the IRS’ estimated tax payment schedule, here are the due dates for quarterly estimated tax payments (made via Form 1040-ES): April 15, June 15, September 15, and January 15 (of the next year).
If your business income fluctuates from year to year, as is often the case for the small business owner, it can be difficult (if not impossible) to know your tax liability until the year is over. So many self-employed people end up being too conservative. They fear to have a balance due on their tax return and pay way too much-estimated tax during the year. They end up just like the W-2 employee who has too much income tax withheld from his/her paycheck. The result — the self-employed person also gets a large refund and has given the IRS an interest-free loan of his hard-earned money. Not good!
The self-employed person has two options to avoid overpayment of estimated tax.
Do your best to track your income and expense during the year. If you are running a successful small business, you should be recording your income and expenses each month, and you should be able to produce reports that tell you exactly how your business is doing each month. Either you are doing this yourself with the help of a software program, or you are paying a bookkeeper or accountant to do this.
The point: if you don’t know what your bottom line is every month, you are making a big mistake! If you are waiting until the end of the year to see what the numbers look like, you are mismanaging your business.
This monthly financial summary is essential both from a business management/cash flow standpoint and also from a tax standpoint. The experts at Hillhurst Tax Group go as far as to state that from a tax standpoint, once you know your profit for a given quarter, you can then calculate the resulting tax liability on that quarter’s profit, and you can make a reasonably accurate quarterly estimated tax payment instead of just “winging it” and paying too much (or too little).
Here’s another great way to take care of your quarterly estimated tax payments. Option 2 is what the Tax Code calls “The Safe Harbor Method,” defined as follows:
The Tax Code says that most taxpayers can calculate the minimum amount of estimated tax by paying the previous year’s tax liability in the current year. Let’s say you are trying to figure out how much-estimated tax to pay for this year. Let’s also assume your previous year’s tax liability was $10,000. You take the $10,000 and divide it by 4, and you would pay $2,500 per quarter.
Now that wasn’t too hard, was it? As you can see, this is a much easier method to use than Option 1, because it takes less time to calculate.
There is another advantage to The Safe Harbor Method: if your current year income (and resulting tax liability) increases, you can still pay the prior year tax liability amount for the current year and not incur any penalty or interest for having a balance …
What To Do When An Insurance Company Denies a Claim
When you buy an insurance premium and begin to pay the premiums, your expectations are that the policy will protect you against financial losses in case of theft or an accident. That’s the main aim of insurance. However, since insurance companies are up to make as much profit as possible and minimize they claims they pay out, getting paid by the concerned insurance company is not that simple and most times they are so aggressive in finding reasons to deny the claim and sometimes the denials are wrongful.
The following are the common types of insurance denials many of which can be overcome by getting the right evidence and documentation but it certainly helps to hire an attorney to help you get the compensation you deserve.
- Life insurance claims
Insurance companies may refuse to pay the death benefits to a beneficiary of life insurance policy on the grounds that the manner of death of the policyholder was not covered or the person making the claim is not the right beneficiary. The company can also claim that the policyholder is a misrepresentation of herself or himself which invalidates the policy.
- Auto theft claim
This is a common scenarios in most areas where the insurance company denies to pay the claims for a stolen vehicle claiming that there is no evidence off forceful entry or any tampering with the ignition even when the rest of the car parts have been stripped off and rendered unusable.
- Bodily injury claims
Most insurance companies will fail to pay claims after an accident that causes harm to the body by claiming that you were not really hurt or the injuries are not as a result of the accident. Geklaw points out that unfortunately many plaintiff’s give up with their claims at this stage without knowing that denials may be contested
- Property insurance claims
If your personal property is damaged or stolen, the insurance company can dispute any claim by disputing the value of the property or denying that you even own the property. If you do not have the right documentation, you may not recover the loss.
- Disability insurance claims
When injured in the line of duty, you can get a claim against the short term or a long term disability insurance but insurance company will look for any information that can allow them to dispute the claim. They will question if you the disability is serious enough to prevent you from working, if you have all the documentation or if the disability is covered in the claim.
However, the wrongful denial of personal injury claims by insurance carriers is not the last word, it can be contested and the insurance company held accountable for the wrongful denial.…
What is a Loan Modification and How Does it Work
A lawsuit loan is a cash advance against a future lawsuit or settlement award. The advance is usually given to people going through cases or negotiations where they expect to receive a lawsuit settlement or reward once their cases are concluded. The advance can also be given to people whose cases are already concluded but they have to wait for sometimes before they can get the settlement. Majority of the people who qualify for this kind of loan are people going through personal injury cases. The lenders contact the lawyers of the applicants to determine if the applicants are likely to win the cases and if yes how much the compensation is likely to be. Once the lender is satisfied, the application gets approved and the applicant gets the advance within a short time.
Some of the unique characteristics of this kind of loan include that one gets to pay once the settlement money is paid. “This means that unlike many other types of loans, in a lawsuit loan the applicant does not have to pay on a monthly basis,” explains at Ari My Lawsuit Loans. The interest of the loan is determined on how long the case takes to be concluded. In case the applicant does not win the case, he or she does not have to repay the loan. Furthermore, if the settlement money is less than what was expected, the applicant has to pay more to the lender. These factors make this kind of loan to be slightly expensive than most other types of loans.
Some of the people who needs a lawsuit loan are people who have urgent financial needs which require to be settled before their cases are settled. This is common because most personal injuries come with medical bills which require to be settled. In case the medical bills are too high, one can apply for this kind of loan while waiting for the settlement money. People affected by personal injuries might also be unable to go to work or do other things which might help them financially. Such people also need this kind of loan to survive or create alternative sources of income before getting the settlement money.
While taking this kind of loan it is always paramount for one to consider some of the important factors. One of these factors includes how long it might take for the case to settle. This is because if the case takes too long the interest on the loan might get very high which might make it challenging to repay. One also needs to apply for a reasonable amount depending on how much one expects to get as settlement money. Therefore, a lawsuit loan is usually very helpful to people going through cases where they anticipate to be compensated once their cases are concluded.…
Can I Get a DUI Expunged From My Record
A DUI can be a difficult thing to have on your record in California. However, you don’t have to bear with it forever if you understand what you can do to expunge it. there are many points that have to be followed as you are looking to get your DUI off of your record so you will not be at risk of losing job opportunities or other services that you might be able to use over time.
You have to be eligible to expunge a DUI in California first. To do this, you have to complete the probation period. This can go for three to five years on average. You may also wait for a year on a low-level misdemeanor if there was no probation involved. You must also pay the fines and restitution associated with your DUI.
You must not have any other charges on your record as you apply to expunge your DUI. This is important to ensure that you will get the issue off of your record as needed.
Consult a Proper Attorney
After you meet the eligibility requirements, you will have to contact an experienced attorney like Hart Levin for help. An attorney can represent you in a district court. This particular court is where more expungement cases may be heard.
You must talk with your attorney about the case you have based on what you have done since the DUI. It is especially a necessity to talk with your attorney about how the problem has been paid off over time. it helps to be as specific as possible to keep the DUI in check.
Discussing the Case
As the attorney contacts the judge, the attorney will help you out with getting the most out of your particular case. This includes a careful look at how well the case is being managed based on how the case was organized and whether or not you have been properly abiding by the law since your DUI. The OC DUI Expert states that you must also show that you have covered your debts and that you have responsible paid off any damages or other things that might have come about as a result of a DUI.
You must make sure you get your DUI expunged if you ever have one. This is to ensure that you will avoid the serious problems that may come about as a result of having such a harmful point on your record. It is essential to see that you can control the problem as necessary before it can be any worse.…