myLot Discussions
| How to Avoid Tax Debt?? | | The best way to avoid tax debt is to pay estimated taxes on time and file your personal tax return by April 15th. If you fall behind or pay late, you will incur a penalty. If this happens, make sure you pay the amount owed and the penalty quickly.
You can request an extension of up to 120 days, but you need to do so prior to the April 15th filing date. Should you still not be able to pay your tax bill as the end of the extension grows closer, pay as much as you can of the outstanding tax bill, then think of ways in which you can raise the money. Sell off an investment, borrow against your 401(k) or life insurance, sell an asset or (if this is a temporary financial situation) take a cash advance on a credit card or even a bank loan. A personal loan from family or friends can also be very helpful when it comes to paying taxes.
To keep yourself on the right track, make sure you keep good... | |
| | China's best-paid earning annual US$40,000 on average | | Tax self-declaration near goal
China's best-paid workers earned an average annual salary of 310,000 yuan ($39,850) last year and most came from the power, energy and other State-controlled monopolies, income tax statistics revealed. Personal income taxpapers were filed by 1,628,706 high-income earners by the April 2 deadline, the first time ever that China required self-declarations for those making more than 120,000 yuan a year, the State Administration of Taxation (SAT) said in a report yesterday. In addition to the high paid workers from State-controlled entities, universities, hospitals and real estate agency workers were among the filers, the report said. Eighty-one percent of the big earners came from Beijing and coastal economic engines such as Shanghai, Shenzhen, Xiamen, Qingdao, Ningbo and cities in East China's Jiangsu Province. The average 310,000-yuan salaries... | |
| | Senate Sweetens Economic Package | | What do you think about these changes made to the bailout bill? I think it sounds better than the original. I did like Obama's remark that this was not the time to think about punishing who cause the problem that can be taken care of later.
The Senate modified the $700 billion financial rescue plan with a provision that gives the Treasury Department the authority to buy troubled mortgage securities. The bill also now includes an extension of numerous tax breaks for research and development and renewable energy companies, as well as personal tax breaks for college tuition and disaster victims. It proposes adjusting the Alternative Minimum Tax, so it doesn't hit more than 20 million middle class Americans in 2009. Another key modification is a one-year increase in the limits of personal bank savings the government insures up to $250,000.... | |
| | Got Problems with E-gold.. | | Yesterday i log in my e-gold account and it say i have to enter either a Personal Tax ID Number or a National ID Number. I, of course, dont have a Personal ID Number. But when I ask everyone, they say my country doesn't have a National Tax ID Number. What should I do now? Abandon my E-gold account?? Please, I need help! | |
| | New Illinois Gov. Pat Quinn Plans To Raise Income Taxes 50 percent | | Chicago has blood running in their streets 24-7 it is unbelievable the crime and murderers taking place every single day in Chicago,now the handy-dandy new democrat governor has announced today he will be increasing personal tax up to 50% on individuals,as well increasing the personal income tax rate.Yesterdays news out of Chicago the Chicago Sun Times newspaper reported child abuse is on the rise in the city of Chicago due to parent's being stressed out over mounting bills and the awful economy problems in the country and increasing the personal income tax rate,what is this new governor thinking raise working people taxes in such seriously hard times? http://www.chicagotribune.com/news/local/chi-quinn-tax-hike-13mar13,0,7352846.storyTRIBUNE UPDATE: Gov. Pat Quinn today acknowledged he plans to raise income taxes in the wake of a Chicago Tribune story that he is considering a 50... | |
| | Treasury Secretary Appointment Over Looks Paying His Tax's | | Other appointments by president-elects who was found gulity of not paying their personal tax's and/or employing illegal's did not get a past,most all democrats believe Baracks Obama's appointment for treasury secretary will have no problem.
In my opinion I would not give him a pass if I uncovered he has been dishonesty on his own personal tax reports,it would be like putting the fox in the hen house,what say you?*Chicago Sun Times Story W/Link Below*He failed to pay self-employment taxes for money he earned while working for IMF from 2001 to 2003, according to materials released by the Senate committee. In 2006, the IRS notified him that he owed $14,847 in self-employment taxes and $2,383 in interest from 2003 and 2004, which he paid after an audit. The IRS waived penalties for those tax years.Transition officials discovered last fall that Geithner also had not paid the taxes... | |
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