Nestled in a small, unassuming town in the mountains of northern PA, is a place called DuBois. It is predominately white and has been for decades. So to see a person of color is rather a rare opportunity.I first met Pastor Woody several years ago in a small country setting church where we both were called by the Holy Spirit. He went only by "Woody" at the time because he was running from a point of depression in his life. His marriage fell apart and so did his ministry of over 20 years. He was turning his back on the pastorship and never told anyone who or what he was. His secret came to the open soon after the Holy Spirit had revealed him to the pastors of this church we were...

The difference between rates and wages is not always clear to newly self-employed people and their wage-earning clients.Both look similar on the surface; both are expressed in dollars and cents per hour. But they each represent something very different.Wages are the payment a worker receives for his labor.Rates are the payment a business receives for performing a serivce to a client. In addition to the labor used in performing that service, rates must cover the business's overhead.Because of that, rates have to be higher than hourly wages earned by employees for comparable work.Most newly self-employed workers are former employees. They are accustomed to receiving pay based on wages...

The difference between rates and wages is not always clear to newly self-employed people and their wage-earning clients.Both look similar on the surface; both are expressed in dollars and cents per hour. But they each represent something very different.Wages are the payment a worker receives for his labor.Rates are the payment a business receives for performing a serivce to a client. In addition to the labor used in performing that service, rates must cover the business's overhead.Because of that, rates have to be higher than hourly wages earned by employees for comparable work.Most newly self-employed workers are former employees. They are accustomed to receiving pay based on wages...

'In this world', said the great Benjamin Franklin, 'nothing is certain but death and taxes'. While modern medicine continues to work on a cure for mortality, 1031 exchanges offer a valuable mechanism against the foibles of the taxman. Allowing the exchange of one property for another, this property market trend can help you hold on to money that might otherwise end up with the IRS. How do you know whether you are eligible to take advantage of this great property trend? The first stipulation is that the two properties involved in the swap be in use for 'trade or productive purposes', that is that they are moneymaking concerns of some kind, such as a rental property or holiday home. The property...

Just about everything you have been told about Social Security is an obfuscation. That is a big word for convoluted truth or lie.In a recently published obscure government document by the presidential Social Security commission there are two pages that expose the truth. Neither Democrats nor Republicans want you to read this. Shining the light of truth on the weirdness of politicians seldom makes them happy; however, you owe to yourself to know the truth.When they take out from your paycheck for FICA - that's the SS deduction - the money is sent to the Social Security Trust Fund. Your money is held in the fund for some future date when it is returned to you upon retirement. During that time it is...

If you're in the market for a new car, but you can't afford the high price of retail, visiting a government auction in person or online can be a smart way to go. Government auctions are notorious for having some of the best automobiles going at a fraction of the prices you'd pay from a dealer or private owner. Government auctions can be found in all kinds of jurisdictions, ranging from small, local authority auctions to large federal auctions. They can include everything from the top of the line, just released vehicles to older cars that have been well cared for in a government fleet. Let's take a look at some of the types of vehicles that can be found at government auctions: Newer model cars...

In the everyday world of aircraft and yacht ownership, the following story is played out from coast to coast. The whispers in the crowds of prospective owners often are based on the age-old question, "is it really possible to legally avoid sales tax, or am I risking embarrassment if I get caught trying?" The stress often crashes into the life of the financial personnel to find workable solutions after the client takes the survey of his friends on the golf course. The CPA cringes while he is instructed by his client to make the new deal work by tomorrow morning, and "oh, by the way, I don't want to waste a nickel on tax." He inherently knows that no matter how careful he is to explain every minute...

Peter Bill, Editor of the Estates Gazette as well as 7 others experts in UK Commercial Property investing have teamed up to talk about how to successfully invest in UK Commercial Property. Fiona Goldman recently interviewed Peter Bill, editor of the Estates Gazette. Asking Peter Bill what his thoughts are on the future of the UK Commercial Property Market gives any prospective commercial property investor a real insight into where the UK market is heading in the next few years. Fiona asked Peter "Would you say Great Britain is still a buoyant market to invest in with regards to property" Peter replied "Yes I think it is, as we speak I think its been buoyant now for 8 or 9 years. Is it slowing down...

With its upscale neighborhoods to attract the affluent, Irvine, California is a planned city built around a university campus. Here is some information for those with designs on relocating to Irvine. Located in Orange County, Irvine is included in the Los Angeles-Long Beach metro area. Built on 46 square miles of land, the city was developed in the 1960s by the Irvine Company. Each village within Irvine reflects its own style ranging from the Tuscan to Spanish themes. This young and attractive community is growing fast and annexing outlying communities in the process. The city is well on its way to doubling its 1990 population of 111,734 people. Estimates from the California Department of Finances...

The California State Agency that oversees the collection and reporting of State income taxes deducted from payroll checks is: Employment Development Department 800 Capitol Mall Sacramento, CA 95814 888-745-3886 California requires that you use California form "DE 4, Employee's Withholding Allowance Certificate" instead of a Federal W-4 Form for California State Income Tax Withholding. Not all states allow salary reductions made under Section 125 cafeteria plans or 401(k) to be treated in the same manner as the IRS code allows. In California cafeteria plans: are not taxable for income tax calculation; are not taxable for unemployment insurance purposes. 401(k) plan deferrals are: not taxable for...

Voice Over Internet Protocol is a relatively new method of sending and receiving telephone calls. Sometimes called IP telephony, internet telephony, broadband telephony broadband phone, or voice over broadband, VOIP technology allows you to make voice calls using a broadband internet connection, rather than a regular (analog) traditional phone line. Basically, it is the routing of voice conversations over the internet or through any other IP-based network. The main benefit of using VOIP technology is that you can use your internet connection, which you are already paying for, to place long distance calls, completely circumventing local phone companies and their charges. Voice Over Internet Protocol...

Sure, it's tough to pull the trigger and buy a home, especially as a first-time buyer. The big hit of covering both a down payment and closing costs is enough to scare any prospective buyer into staying a renter. When you combine the fact that youll be responsible for any fixes the house needs and that it's pretty difficult to just pick up and move, owning your own home gets more frightening by the minute. But fear not, the advantages of owning a home far outweigh the risks. So if you're already looking for a home, continue to do so. If you're a renter, it's time to reconsider. Benefits: Save big on taxes. When you own a home you'll have to pay a mortgage and property taxes. It stinks, we know...

If you are new to investing, you may have heard of mutual funds but do not know exactly what they are or how to select the right one. A mutual fund is a collective investment security, and there are many different types. It may consist of a mix of several different types of investment vehicles, such as stocks, bonds, or derivatives, or it may consist of nothing but stocks that are part of a certain sector of the economy, or it could be just bonds. For example, there are mutual funds that consist of nothing but technology stocks. There are also funds that are comprised of stocks that have a similar market capitalization (such as mid-cap funds, large-cap funds, or small-cap funds). And some might...

When the month of April rolls around most of America is preparing their income tax returns. Each year all individuals who made an income are required to report that income to federal and state governments by filing an income tax return. Taxpayers must file two separate income tax returns. One income tax return goes to the federal government and the other goes to the state government that a particular taxpayer resides in. The majority of taxpaying Americans are able to fill out a Form 1040A: U.S. Individual Income Tax Return. Individuals that do not have any children or other qualifying dependents are able to file a federal 1040EZ form. This form is also referred to as the Income Tax Return for...

So you find yourself with an IRS debt and you don't know how to pay it back. Installment agreements are perhaps the most widely used method for paying past tax debts. If you cannot afford to pay your tax liability in full, the IRS may enter into an installment agreement with you. This will allow you to pay off your tax liability through monthly payments or installments. Installment agreements may pay all (full pay) or part (partial pay) of your past tax liability. If you cannot pay the amount you owe within 60 months, you must file Form 433-A or 433-B. The IRS will analyze these forms and use the information to determine the amount you can pay. The IRS has the discretion to decide on the payment...

To become a plumber requires training. That probably comes as no surprise. Even those of us who know little of what plumbers do, know that they have to have a great handle on what theyre doing To become a plumber may mean as much time and training as a three or four year degreed course or technical school training, or it may mean a formal or informal apprenticeship. It may mean both. While there is a great deal of variety in the training involved to become a plumber, one thing is sure. You have to learn how to become a plumber. You cant, like some innate skills, just start doing it and learn as you go along. Were you to do that someones plumbing would suffer as a result. Here are some of the...

If you are buried under tons of debt, filing for bankruptcy may seem like the easy way out. However, just because it is the easy way out, it doesn't mean that bankruptcy is the best solution. In fact, filing for bankruptcy can put you under far deeper financial trouble than you previously were. This is why it's best to avoid bankruptcy at all costs. Here are a few reasons why bankruptcy can be seriously bad news: 1. Bankruptcy does more damage to your credit record than you would like to imagine. For instance, once you've filed for bankruptcy, not only will it stay on your credit record for seven to ten years, it will also make it incredibly complicated for you to be approved for loans and credit in...

Reduce inheritance taxes by giving gifts! The inheritance tax is the same thing as the estate tax in the United States, but with a different name depending on the country that you are talking about. The inheritance tax is a tax that is supposed to be levied on the richest people after they die, especially if they have a considerably large estate at that point in time. However, this is not always the case, and in fact, a lot of people find that they are being forced to pay an inheritance tax even though they do not have a particularly large estate. The reason for this is that housing costs continue to increase - and since your house is considered to be one of your assets, it is included in your...

STEP 4: Organizational Structure This is the step where I need to select an organization structurethat best fits my business model. I personally find there is no "best"structure for all businesses. However, I normally prefer to select onethat provides me with high autonomy and low tax liability. Again, thiswill also depend on the national, federal or local tax structure foreach business entity in the country or state I conduct my business. Before setting up my company, I would do insight research on all theoptions available for my particular business model, particularly theadvantages and disadvantages of each formation, paying specialattention to the tax implication and government formalities as...

Nowadays, every department in the governmental or private sector boast a digital nervous system - as Bill Gates put it in his best seller Business at the Speed of Thought - through which it interfaces with the public, listen to the grievances and carries out or facilitates various services. Our current topic of discussion, is electronic tax filing, it makes use of the digital nervous system of the tax department, and in simple terms, it is the World Wide Web's way of filing your tax returns. In a way, Internet has revolutionized the way people have access to information. It virtually eliminated the unending delay that used to associate with the process of getting services done from governmental...

As the California state population increased, the demand for housing also increased and this resulted in higher property values and higher taxes. Local taxes - About 35 percent of the total, county and city revenue in California is generated from the local taxes and this amounted to about $20 billion in 1997-98. . Property Tax-29 percent . Optional sales tax-32 percent . Bradley Burns sales tax . Vehicle license fee-14 percent . Other taxes- 25 percent Property Tax- A major source of tax revenue is from local government, cities, school districts, counties and special districts of California. Since 1849, property taxes have been a major part of Californias tax structure and also one of the most...

A SEP IRA is a plan that may allow you to put away more tax deductible dollars for retirement. For employers, SEPs are a simple way to establish a retirement plan for employees without many of the restrictions that apply to other qualified plans and without the mounds of paperwork. Here, however, we are going to talk about how a SEP IRA could allow you to save more for retirement if you have self-employment income outside of your job or have your own business. Business owners are both "employers" and "employees." For this discussion, we will assume that you are the only employee. Note: If you are involved in a business with partners or employees, the same percentage contribution is required for all...

The sphere of financial affairs in Netherlands is broadly approachable due to an organization of Dutch taxes in such a manner that they encourage both national and foreign investment. Subsequently, corporate revenues are taxed and then the tax (belasting) is dealt with by the Belastingdienst, the Dutch taxes and customs organization established by the Dutch Ministry of Finance in such a way that the intricate paths of the belasting legislation do not interfere with the investors' interest. Corporate entities, the same as natural persons (individuals) who pay an annual income tax, are subject to another type of income tax, more precisely to Dutch taxes on corporate income. Both public companies and...

"I would rather expire at my desk than to sell my business and pay Uncle Sam one dime in taxes." How many owners that have paid their fair share of taxes for twenty years of building their business feel this way? The tax bite is the single biggest factor in an owner's reluctance to sell his/her company. I have previously written articles discussing various aspects of transaction structures to minimize taxes. As a result, I am often contacted by a panicked seller that is a week from closing his business sale as he looks in disbelief at his accountant's spreadsheet detailing the tax burden of his impending sale. Recently, the seller of a Sub Chapter S Corporation with an $8 million transaction...

Let's face it, taxes are complicated, especially if you own a small business. Read below about tax concerns to avoid some of the most common pitfalls experienced by small business owners today. As your business grows, you will probably need to hire employees. Some of the most common tax concerns involve employee tax issues. When you hire employees, you have to file timely payroll tax returns and make the required tax deposits. Payroll taxes include three types of taxes: - Income Tax-You must withhold the proper amount of income tax from each employee's paycheck throughout the year. -Social Security and Medicare Tax or FICA-You must withhold the employee's share of FICA taxes from each paycheck and...

Is your business missing out on valuable tax deductions you can take for the use of your personal vehicle for business purposes?If you haven't done so already, you should definitely beat a path to the door of your local office supply store and pick up a notebook for logging the mileage you drive to conduct business-and be sure to log the miles you drove to buy it! Not taking the trouble to do this is like letting your pricey gasoline flow onto the pavement instead of into your tank. Even if you work at home most of the time, miles you've driven to purchase office supplies, buy stamps or mail packages, and other errands for your business can translate into big tax deductions. With fuel costs soaring...

It is the nightmare scenario for every business owner. A letter from the IRS arrives demanding payment for unpaid payroll taxes. The statement list the amount owed along in addition to penalties and interest. Thousands of businesses are faced with this situation every day. Even worse, many of these companies are forced into bankruptcy every year when they are unable to make the payment demanded. The IRS also considers the problem of unpaid payroll taxes significant. "Payroll taxes represent a significant portion of the IRS's accounts receivable," says Carolyn Stumpf, a spokeswoman for the agency. Fines for a business that collect the taxes but fail to pay the IRS are significant. The IRS considers...

Corporation Tax Records All companies are required by law to maintain records of that company's transactions in a manner that must be adequate to enable the company to produce an accurate Company Tax Return. Company tax records must be kept for a minimum of six years from the end of the accounting period and longer if the accounts are submitted late or being enquired into by the Inland Revenue. Company tax records must include all original sales receipts and purchase expenses. Under the Companies Act legislation registered companies must also keep accounting records. Companies are responsible for calculating their own corporation tax liability and paying the corporation tax without prior assessment...

There are a number of ways of getting loan to complete your requirements. Now a days a number of companies are offering the real estate backed loan. These types of money lending are called hard money lending or private money lending. These days a large number of private companies are taking interest in this type of loans. The rule of thumb is to provide the loan on the total value of the property that is collateralized for the loan. The rates of interests for these types of money lender are much higher as compared to the other banking schemes. The reason behind the higher interest is that these companies do not require any income verification as the normal banking does so that amount of risk is much...

Buying a vacation property has become more than just trendy ? it has become an important part of anyone's financial portfolio. People from Western countries are increasingly snapping up vacation properties in the Caribbean, the Mediterranean, and other choice locations in warmer climates. One island that is seeing renewed interest is Cyprus. Being a relatively new member of the European Community, Cyprus property are also seen a surge in demand because English is widely spoken as a second language. Being part of the EEC is expected to be a precursor to increased property prices, making Cyprus an excellent long-term investment for real estate. The stable economy is expected to continue to grow as...