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Member You - How Any Business Owner Can Reduce The Likelihood of a Tax Penalty by 31 Times
In Part One we concentrated on how to build a career that meets your personal aspirations, drivers and values. In this part of the article, we'll concentrate on the other key requirement for effective career development - your organisation's needs.Identifying your firm's needsIt is cl
I know, I know. Change is painful. You like your routine.
My 3 children like to tell me how "old-fashioned" I am -- because of the clothes I wear or the music I listen to.
I hear it all the time: "You're so '20th century', Dad."
Well, I'm hear to tell you . . . making your tax payments with a manual check
Getting paid for Adsense Ad clicks is a very popular monetization model for many website owners. There’s just one problem…most websites earn very little money from Adsense and their owners can’t seem to do much about itSo, how do you ‘really’ increase your adsense revenue?Here is the question I get a
Here it is:
Small Biz Owner #1 is 31 times less likely to be penalized by the IRS than Small Biz Owner #2.
Hmmm. What gives? What is the difference between these two chaps?
It's simple, really.
Small Biz Owner #1 makes his federal tax payments electronically, using the government's Electronic Federal Tax Payment System (aka EFTPS).
Small Biz Owner #2 makes his federal tax payments manually, using good old paper 'n ink to write the check.
Not only that, but for his monthly payroll tax payments, Small Biz Owner #2 has to fill out the little coupon that comes in that little yellow coupon book (known as Form 8109), write out the check, and then take the time to visit his local bank and make the payment in person.
Because Small Biz Owner #2 is stuck in the rut of the manual check payment routine, he is 31 times more likely to get hit with a late-payment penalty.
And these late payment penalties are pretty steep:
1 to 5 days late = 2% penalty
6 to 15 days late = 5% penalty
16 or more days late = 10% penalty
. . .plus interest.
It makes sense, doesn't it? If a task takes less time and energy to complete, you are more likely to do it on time.
And using EFTPS definitely is easier and faster than writing out a check and taking it to the bank.
You simply sit down and make a 5-minute phone call, or visit the IRS website and input a few numbers.
No fuss, no muss. And you can do it 24 hours a day, 365 days a year.
I know, I know. Change is painful. You like your routine.
My 3 children like to tell me how "old-fashioned" I am -- because of the clothes I wear or the music I listen to.
I hear it all the time: "You're so '20th century', Dad."
Well, I'm hear to tell you . . . making your tax payments with a manual check
Structured settlements can be sold when there is a monetary emergency. There is an option of selling the settlement in parts, instead of opting to sell the whole settlement for a lump sum. The whole settlement needs to be sold only in case of dire emergency when the cash has to be raised immediately. Structured set
Small Biz Owner #2 makes his federal tax payments manually, using good old paper 'n ink to write the check.
Not only that, but for his monthly payroll tax payments, Small Biz Owner #2 has to fill out the little coupon that comes in that little yellow coupon book (known as Form 8109), write out the check, and then take the time to visit his local bank and make the payment in person.
Because Small Biz Owner #2 is stuck in the rut of the manual check payment routine, he is 31 times more likely to get hit with a late-payment penalty.
And these late payment penalties are pretty steep:
1 to 5 days late = 2% penalty
6 to 15 days late = 5% penalty
16 or more days late = 10% penalty
. . .plus interest.
It makes sense, doesn't it? If a task takes less time and energy to complete, you are more likely to do it on time.
And using EFTPS definitely is easier and faster than writing out a check and taking it to the bank.
You simply sit down and make a 5-minute phone call, or visit the IRS website and input a few numbers.
No fuss, no muss. And you can do it 24 hours a day, 365 days a year.
I know, I know. Change is painful. You like your routine.
My 3 children like to tell me how "old-fashioned" I am -- because of the clothes I wear or the music I listen to.
I hear it all the time: "You're so '20th century', Dad."
Well, I'm hear to tell you . . . making your tax payments with a manual check
Advertising. We've all tried it at least once. For the purposes of this discussion, let's define advertising as any form of marketing one pays for.From business cards, flyers, and mailers to billboards, TV spots, and newspaper display ads, advertising is everywhere. Still, almost every business in the world
Because Small Biz Owner #2 is stuck in the rut of the manual check payment routine, he is 31 times more likely to get hit with a late-payment penalty.
And these late payment penalties are pretty steep:
1 to 5 days late = 2% penalty
6 to 15 days late = 5% penalty
16 or more days late = 10% penalty
. . .plus interest.
It makes sense, doesn't it? If a task takes less time and energy to complete, you are more likely to do it on time.
And using EFTPS definitely is easier and faster than writing out a check and taking it to the bank.
You simply sit down and make a 5-minute phone call, or visit the IRS website and input a few numbers.
No fuss, no muss. And you can do it 24 hours a day, 365 days a year.
I know, I know. Change is painful. You like your routine.
My 3 children like to tell me how "old-fashioned" I am -- because of the clothes I wear or the music I listen to.
I hear it all the time: "You're so '20th century', Dad."
Well, I'm hear to tell you . . . making your tax payments with a manual check
4 Steps to Getting the Best Business Credit CardsA business credit card offers you a convenient way to pay for goods and services for your business. It returns the pleasure of managing a company that is your very own.The very minute you have secured a business credit card account that is for yo
. . .plus interest.
It makes sense, doesn't it? If a task takes less time and energy to complete, you are more likely to do it on time.
And using EFTPS definitely is easier and faster than writing out a check and taking it to the bank.
You simply sit down and make a 5-minute phone call, or visit the IRS website and input a few numbers.
No fuss, no muss. And you can do it 24 hours a day, 365 days a year.
I know, I know. Change is painful. You like your routine.
My 3 children like to tell me how "old-fashioned" I am -- because of the clothes I wear or the music I listen to.
I hear it all the time: "You're so '20th century', Dad."
Well, I'm hear to tell you . . . making your tax payments with a manual check
Have you ever thought of buying a new car? Getting a vehicle is usually the 2nd most important investment in your life next to buying a house. You might know which car or van or even a truck, you want and the color has to be unique. Putting more designs and modifications to further enhance the look and feel is main
I know, I know. Change is painful. You like your routine.
My 3 children like to tell me how "old-fashioned" I am -- because of the clothes I wear or the music I listen to.
I hear it all the time: "You're so '20th century', Dad."
Well, I'm hear to tell you . . . making your tax payments with a manual check is soooo "20th century", man.
Get with the times and start using EFTPS.
Not only is it "hip, man" -- but it can also help you avoid a hefty late payment penalty.
One of my clients with a staff of 4 employees recently forgot to make one of his monthly federal payroll tax payments. During my quarterly review of his books, I informed him of the missing payment.
On a tax liability of just $2,000, he was now faced with a $200 penalty. Ouch!
Ready to join the 21st Century, and avoid the pain of an unnecessary tax penalty?
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