Now that you are close to retiring, you need to decide where you wish to spend your post-work life. Even if you have planned well and have plenty of financial resources at your disposal, you also realize that money doesn’t go as far as it did years ago. Therefore, you need to find a place to live that has low tax rates and other benefits that will make your retirement much more secure from a financial standpoint. If you are ready to find your retirement haven, keep these common tax considerations in mind as you make your retirement destination choice.
While most people are accustomed to being in debt for homes, cars, and other things, being in debt to the IRS is a different matter altogether. Since the federal government does not appreciate it when folks don’t pay the amount of taxes they owe, the penalties for tax debt are often severe. Unfortunately, many people try to ignore their tax debt problems, hoping they will magically disappear. Instead, they only get worse. If you are in trouble with the IRS, here are some tips for how to deal with your tax debt.
As the COVID-19 pandemic has raged across the U.S. throughout much of 2020 and into 2021, small businesses have struggled to survive. While many have not, others have used the federal government’s Paycheck Protection Program (PPP) to obtain loans that are completely forgivable. However, since there are deadlines to meet and other terms to ensure a loan will be forgiven, it is crucial for you as a business owner to know more about the process involved in applying for loan forgiveness. To ensure that your PPP loan has the best odd of being forgiven, remember these key points along the way.
Financial fraud is rampant around the world, but citizens of the U.S. have arguably experienced more than their fair share due to our reputation as a wealthy country. Simply by being a U.S. resident, your odds of being targeted for financial fraud may be higher than if you lived in a second or third world country. And, while technology has added much to our lives, it’s also opened doors to hackers and other nefarious criminals whose sole mission is to come up with devious plans to part you from your money. The sad thing is that these criminals care little about how their activities negatively impact their victims. Elderly people who have labored their entire lives have been just as likely to be victims of financial fraud as persons with large amounts of disposable income. Pay attention to these warnings if you want to protect yourself and your loved ones from financial fraud.