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Friday, February 24, 2012
This is a test post for newsletter settings This is a test post for newsletter settingsThis is a test post for newsletter settings This is a test post for newsletter settings aRelated question : ?
How Can I Make the Best Use of Web Tools for My Job Search ?
Friday, May 08, 2009
Online job search resources provide a vital service to job seekers. Here are some tips for using Web tools to their best advantage.
= Diversify your search. Don't limit yourself to one site or one type of site. In addition to job boards like Monster or Yahoo! HotJobs, try sites associated with your relevant industry or professional associations, alumni career resources, and local career centers.
= Search many terms. Think about synonyms for the types of job you want. If you're looking for a sales job, you should search on all relevant terms, like "sales rep," "account executive," "sales associate," "inside sales"…
=Use a job-search agent. Many sites allow you to save the parameters you used so that you can be notified via email when new job postings arrive that are relevant to the conditions you outlined in your search.The agents that work best use Boolean search terms. Boolean refers to the logical relationship among search terms usually characterized by the words AND, OR, and NOT. In Boolean searching, an "and" operator between two words or other values (for example, "pear AND apple") means one is searching for documents containing both of the words or values, not just one of them. An "or" operator between two words or other values (for example, "pear OR apple") means one is searching for documents containing either of the words.
= Go straight to the source. A number of experts recommend the career sections of company Web sites as a better choice than the big job boards because job postings are more likely to be current, the job-seeker can obtain specific instructions for how to apply online, and the overall company Web site provides a feel for the company's culture.
Experts say the best way to approach a job search is to research and target the companies you most want to work for. Visiting company career sites is a great way to do so. Applying through a company job site lets the employer know that you were interested enough in the company to come to its Web site.
= Publish your resume on your own Web page. Since many employers now require resumes to be submitted in an unattractive and unadorned text/scannable format, publishing your resume on the Web gives employers 24/7 access to a more graphically pleasing version of your resume.
If you want to find free web space, go here.
= Be sure to pay attention to employers'/recruiters' instructions for submitting your resume in response to their ads. Do they want you to send it via e-mail as a Word attachment? Via e-mail with your resume in text form in the body of the e-mail? Faxed? Mailed?
Make sure you know how to do what the employer is asking. If you frequently send your resume as an e-mail attachment, experiment with sending it to several friends' computers to make sure it looks consistent and nicely formatted.
= Connect with social networking sites. You can use your profiles on sites like LinkedIn, Facebook, Twitter, and ZoomInfo for professional benefits.
The sites let you highlight your work experience and achievements, learn about new job openings from your contacts, or keep a mini blog about your accomplishments or your job-search progress.
= Monitor your online appearance. Do an Internet search on your name, and examine the list of search results. Are there questionable photos you should "un-tag" or inappropriate comments you should delete?
Use the privacy settings on your profiles, and be discreet about people you let into your networks and the information you share.
= Prepare your salary expectations by using sites like PayScale.com or Glassdoor.com.
aRelated question :
What Are Online Degree Programs in Biology for ?
How Can I Request an IRS Payment Plan ?
Tuesday, May 05, 2009
You can gradually erase your tax debt by installing a payment plan with the IRS. Either you or your tax professional can set up an installment agreement allowing you to pay each month a small amount of your original tax due, plus penalties and interest. Learn how to request a payment plan :BEFORE YOU MAKE YOUR REQUEST
1. Verify the amount you owe. The amount you owe includes your original tax due, plus penalties and interest. Prepare copies of all your tax returns.
2. Prepare yourself to pay a one-time user fee to set up or re-instate an installment agreement :
- $52 for direct debit installment agreements (payments deducted directly from a bank account);
- $105 for new installment agreements without direct debit;
- $45 for restructuring or for reinstating a defaulted installment agreement.
4. Determine the size of the monthly payment : the IRS cannot argue as long as this monthly rate allows you to pay your tax debt fully within a three year period.
5. If your tax debt is more than $10,000, you will need help from a tax professional, since you do not meet the IRS's criteria for automatic acceptance of an installment agreement.
MAKE YOUR REQUEST
= Fill out Form 9465, Installment Agreement Request. Or call the IRS at 1-800-829-1040. They will set up a payment plan over the phone and send you the paperwork to fill out. You can also use the Online Application on the IRS site.
= Choose a day (between the 1st and 28th)of the month you want to make your payments. You must make your payment by the same day each and every month.
= You can pay by check, money order, credit card, EFTPS or automatic withdrawals from your checking account.
= The IRS will respond to your request in about 30 days.
KEEP IN MIND
= If paying by check or money order, mail your monthly payment to the IRS about 7 to 10 days before the due date. This will make sure the IRS receives your payment on time.
= The IRS will not approve your installment agreement if you have not yet filed all your tax returns. You will need to file all your back taxes before requesting a monthly payment plan.
aRelated question :
How Can I Get Tax Debt Relief ?
Can I apply to an Offer in compromise ?
Friday, May 01, 2009
In an Offer in Compromise (OIC), the IRS agrees to accept less than full payment on tax debt when the decision is in the best interest of both the taxpayer and the IRS. This measure should be considered a last resort for attempting to rid oneself of debt, as OICs are adopted in less than 1% of cases. Read full article to find answers to your questions about OIC :n What are the reasons for which an Offer in Compromise might be accepted ?
There are three reasons for which an OIC might be accepted :
- "Doubt as to the liability" - The IRS is not certain that the liability is correct.
- "Doubt as to collectability" - The IRS does not think the taxpayer can ever pay in full.
- "Effective tax administration" - The taxpayer has proven that exceptional circumstances prevent him or her from being able to pay the full amount.
n What are the payment requirements ?
You can offer to pay in one lump sum or in periodic payments. You must agree to comply with future payment requirements and, since the passing of the Tax Increase Prevention and Reconciliation Act of 2005, you most likely will need to pay 20% of your offer up front.
It's important that you understand OIC guidelines because you are responsible for completing and submitting all necessary forms and the application fee.
n How to Apply for an Offer in Compromise ?
You will need to fill out Form 656, Offer in Compromise, along with Form 433-A, Collection Information Statement. You will also need to calculate the payment amount you offer to the IRS using the Form 433-A Worksheet.
n What are the terms and conditions of the Offer in Compromise contract ?
The IRS sets forth all the Contractual Terms in an Offer in Compromise.
In short, you agree to :
- Pay the offer amount in the OIC.
- File your tax returns on-time and pay your taxes on-time for the next five years.
- Let the IRS keep any tax refunds, payments, and credits applied to your tax debts prior to submitting your OIC.
- Let the IRS keep any tax refunds that would have been payable to you during the calendar year that your OIC is approved.
n What can I do to protect my OIC from being revoked ?
Make sure that you :
- File your taxes on-time for the next five years.
- If you cannot file by April 15th, request an automatic extension. Definitely file your taxes by the extension deadline.
- Pay your taxes on-time. If you owe, your taxes must be paid in full by April 15th. Make estimated payments or extension payments to make sure you don't have a balance due.
n Can I pay "pennies on the dollar" to settle my tax debts?
The slogan "pay pennies on the dollar," can be misleading. In a successful OIC, the taxpayer pays less than the full amount taxes, penalties and interest. However, the taxpayer must prove that the amount he or she is paying is equal or more than the reasonable collection potential as determined by the IRS.
The reasonable collection potential, broadly speaking, is the IRS' best guess about how much money you could come up with in the next 24 months to pay off your tax debts.
n How many OICs does the IRS approve each year?
The Internal Revenue Service approves only a minority of OIC applications each year. In 2004, the IRS approved 19,546 offers, about 16% of the total number of offers received. The key to a successful Offer in Compromise is making sure that the IRS can process your application, and that you submit complete backup documentation to support your offer.
n How long does it take to get an Offer in Compromise?
It will take one to two years to complete the Offer in Compromise process. The time line for an Offer in Compromise looks like this:
- Preparing the Offer in Compromise forms and backup documentation (1-4 months)
- IRS Processing of your Offer in Compromise (13-18 months)
- Finalizing the Offer and Making Payment Arrangements (1-3 months)
n Is there a fee for submitting an Offer in Compromise?
The IRS charges a user fee of $150 to process an Offer in Compromise. You must pay this fee whether you prepare the Offer yourself or hire a tax professional. If you are living below the poverty line, the IRS will waive the $150 fee if you submit Form 656-A to request a fee waiver.
n I want to prepare an OIC myself. What do I need to do?
You will need to prepare IRS Form 433A and Form 656. You will also need to collect an extensive set of backup documentation. If you are self-employed or are requesting an Offer for you business taxes, you will need to prepare IRS Form 433B in addition to Forms 433A and 656.
n Where do I submit my Offer in Compromise paperwork?
To the appropriate IRS Service Center.
See the IRS Form 656, Offer in Compromise for details.
n What if I don't qualify for an Offer in Compromise?
If you don't qualify for an Offer in Compromise, you should consider setting up an Installment Agreement to pay off your tax debts. You will want to seek the help of a tax professional to evaluate alternatives for handling your tax debts.
aRelated question :
How Can I Get Tax Debt Relief ?
How can I get Tax debt relief ?
Tax debt relief is needed for persons who have failed to file returns and therefore are being pursued by the IRS for compensation of back taxes. Tax debt relief comes in different forms, depending on how much you owe, your current financial situation, the applicable penalties. The following article will hopefully help you find your debt solution :Other than deliberate refusal to pay taxes, unpaid taxes are the result of misunderstandings of tax law code, death in the family, a serious illness, not enough money to pay what they owe, failure to withhold enough from their pay, changes in financial circumstances, among other reasons.
Tax debt relief covers several aspects of assistance: wage garnishment, innocent spouse involvement, bank levies, bankruptcy, payroll tax problems among other situations.
Relief from tax debt will often require litigation and a professional attorney experienced in this kind of debt.
Relief is possible without imprisonment; however, criminal suits are possible and imprisonment assessed at one year of incarceration for each year of unfiled taxes.
Tax debt relief is available by requesting the IRS Taxpayer Advocate Program or seeking a professional attorney for help.
Here are some debt solutions :
n IRS Payment Plans
Regardless of tax type (payroll, employment, income, etc.), IRS payment plans can be a great solution to dealing with the burden of a large tax debt. IRS payment plans are interest-free and can be negotiated by a tax specialist/professional.
This can be an excellent alternative for someone who does not, or cannot, organize an Offer in Compromise.
Read more about IRS Payment Plans here.
n Offer in Compromise
An offer in compromise can be the best solution for ridding yourself of tax debt to the IRS. In this offer, your debt is cut substantially on the assumption that you will be able to pay off the smaller amount, and the guarantee that you will pay your taxes for the next five years. This is a formal contract between you and the IRS.
Read Offer in Compromise FAQ here.
n Tax Penalty Abatement
Tax penalties normally are added onto taxes you owe to the IRS, as this is an automated process performed by a computer. Sometimes, these penalties can be inaccurate or completely unwarranted. Try to do it yourself, but if you find it difficult, working with a tax specialist can help you fight and dismiss such penalties.
n Wage Garnishment Release
If the IRS garnishes your wages as payment for your federal tax liability, up to 25% of your disposable income on each paycheck can be confiscated to pay off your debt. By law, if a wage garnishment certificate for your funds is approved and ordered by a court, your employer will be required to set aside a predetermined amount of your wages for the IRS.
Wage garnishment can make an already difficult financial situation even more desperate, and can be very stressful and embarrassing.
Related questions :
Can I Apply to an Offer in Compromise ?
How Can I Apply to an IRS Payment Plan ?
How can I manage credit card payments to reduce my debt ?
Sunday, April 26, 2009
Hammering away at the balance is the the first thing to do if you decided to free yourself from credit card debt. Pick the highest interest rate account and declare war !- Take all your credit cards and list them from the highest balance to the lowest. Start paying the minimum balance on all the credit cards except for the card with the lowest balance.
- Take any extra money you can squeeze and pay as much as you can on that card each month until it has been paid off. Even $10 per month will make a difference.
- Start to apply the money you would pay on that card to the next lowest balance. Continue to do that on each card until all the cards are paid off.
- The extra money you are paying each month compounds as each card gets paid off just like interest and starts hammering away at the balance in big chunks.
Related question :
Credit Card Debt : How Can I Cut It?
Credit Card Debt : how can I cut it ?
If you’re drowning in credit card debt, start by reading this credit card debt advice. It may help you choose the best way to cut credit card debt, even if you don't think you have any extra money.n Pay more than the minimum payment
Look at the real amount of your minimum payment that actually goes towards paying down your debt. If you pay only the monthly minimum, a very small part will be paying the actual debt, the rest is interest that goes directly to the credit card company for the privilege of carrying their card.
Paying just a few dollars more can make a real difference. Ideally, you should try to make double payments. If the calculated minimum payment is only on the accrued interest, then you need to make a double payment to hit the principle of the debt.
By finally hitting the principle and discontinuing use of the card for purchases, you'll see that balance begin to drop.
n Move to a lower interest card
Why pay 18% a year when you can pay 9% ? You should ask your credit card issuer to lower your rate each year, especially if you pay your bill on time each month. If they refuse, let them know you are shopping around for a better rate. Once they know you may be leaving them they'll likely lower the rates.
n Cash out your savings
Rather than paying 18% or more a year on your credit card debt, cut your credit card debt by using your savings to pay off the bill. Even if your savings is earning you the stock market average of 11%, you're still paying out more than you're earning.
n Borrow from your life insurance
You can borrow the cash value of your life insurance policy. The only risk with this is making sure you repay the loan before you die. Otherwise the amount owed will be taken from the face value, leaving your family with less than they may need.
n Home equity loan
By using the equity in your home to pay off your debt, not only your debt will be paid off, but you may be able to deduct the interest from the loan on your income taxes. Warning : don't run up the credit cards again, leaving yourself with the equity loan bill and more credit card bills.
n Borrow against your 401k
Borrowing against your 401k is a possibility. The interest you pay goes into your account, so you are actually paying yourself more money. However, the loan must be paid back within 5 years, and if you leave your company before then the loan will become due at once.
If you don't repay it at this time the amount due will be taxed as a withdrawal, and if you are under 59½ you will pay an extra 10%. Plus the money that you pay back into your 401k is already taxed, and will be taxed again when you withdraw it at retirement.
n Renegotiate terms with your creditors
If you are about to be behind on your bills, or already are, renegotiating the terms of the debt can be very helpful. Your creditors want you to pay, so if they know you may not be able to unless they change the terms, they will be willing to listen. In other words, threaten them with bankruptcy.
n Borrow from your family or friends…
ONLY if you’re sure you can repay them !
Related question :
How Can I Manage Credit Card Payments to Reduce My Debt ?
