HobNob Wilson | Displaying items by tag: Taxes

Displaying items by tag: Taxes

Project Family by Dale Sadler

In my full-time job as a school counselor, I work with middle schoolers. I teach in the classroom, conduct small groups and even see them individually to help them in their personal, social and academic lives. Hearing their stories gives me a glimpse into what is happening in our community of Portland, Tennessee. There's a lot of good, but family fragmentation (divorce) is rampant. So much pain results from a girl whose dad does not show an interest in seeing her and from a boy who has no positive adults in his life outside of school. We can't ignore this issue.

Broken homes are all too common in our world today, particularly in Sumner County with our above-the-national-average divorce rate. In 2008, there was one divorce for every 1.3 marriages, and it's getting worse. In 2009, there was one divorce for every 1.15 marriages; moving ever closer to our community netting zero marriages in a calendar year. Most people have no idea of what this is doing to our community, our children and our future, but Project Family does, and we want to do something about it.

Divorce is a financial issue since it turns a two-income family into two one-income families, who quite possibly need social assistance. This is known as the fallout of divorce and very rarely is a correlation mentioned between divorce and tax revenue, but there is one. Sumner County accounted for three percent of Tennessee's divorces in 2008, costing Sumner County taxpayers $22,710,000. There's a cost to businesses as well. For an average employee making $20/hr, the projected cost of that employee divorcing is over $8,000 with time off work and lost productivity while on the job. Divorce takes its toll on a person and a business.

Divorce is killing our children. According to a 2003 article found in the 'Journal of Divorce & Remarriage,' students from intact families maintained grade point averages 11 percent higher than those of peers from divorced families. Teen pregnancy rises among girls in fragmented homes, and they are more likely to be single moms themselves. Teens with divorced parents are 50 percent likelier to drink. Want to rise to the top, curb teen pregnancy, drug use and alcohol use? Invest in marriages and the home. Simply teaching our fifth-graders to be nice to one another will not get it done.

There is good news for taxpayers and businesses. A study done by the Marriage CoMission in 2006 has proven that when companies invest in the physical and relational wellness of their workers, returns on investment can range between $1.50 and $6.85 for every dollar spent on these types of programs. Also, Texas has allotted $15 million over two years on programs to increase stable marriage rates. If this program succeeds by just three-tenths of one percent, it will be cost effective in its returns to Texas taxpayers. It doesn't matter if you're Republican, Democrat, Baptist or Catholic; this is uplifting.

Good news for couples and their children as well. Through the findings of a major national study, happily married couples had greater skills in areas of communication, flexibility, closeness, personality compatibility and conflict resolution. An important aspect of these five areas is that they can be improved through increased education and skills acquisition. Project Family wants to make this happen.

Project Family, Inc. believes that something can be done. First Things First of Chattanooga (FTF) began in 1997, when 33 percent of Hamilton County's population had been divorced. The national average was 22 percent. As of the 2010 FTF Report Card, divorce filings are down 33 percent.

Project Family hopes to provide classes, printed materials and special events that are geared toward saving marriages and increasing father involvement in the lives of their children to help strengthen families. Whether you're a church, an individual, or a business, we hope that you'll join our efforts.

Visit dalesadler.net/projectfamily or our Facebook page to find out more. You can also call Dale Sadler (Executive Director of Project Family) at 615.513.3642 if you're doing something now or would like to do something to positively affect the family in Sumner County. Please, join us.

By DALE SADLER

Listen to Dale's live radio show Sundays at 4:30 p.m. (CST) at wqkr.com, 95.9FM or 1270AM. Dale discusses pertinent family issues with political activists, motivational speakers and fellow therapists. Visit www.dalesadler.net for more information on Dale's work with families and the non-profit, Project Family.

Published in Family Life

What You Need to Know Before Doing Your Taxes Online

(ARA) - It now takes more than 71,000 pages to cover and explain federal tax laws. So it's not surprising the vast majority of taxpayers look for help preparing and filing their tax returns. Use of online tax preparation and e-filing continues to grow at record rates. In fact, more than 32 million taxpayers e-filed their tax returns from home last year, according to the Internal Revenue Service.

"Online tax prep can take a lot of the hassle out of doing your taxes," says Gary Lundberg, product management director for CompleteTax (www.CompleteTax.com), an online income tax preparation and e-filing service. "But you want to make sure you use a program that best meets your needs."

A recent independently conducted survey of approximately 1,000 taxpayers found that the most important factors to taxpayers in getting their taxes done are:

* Accuracy
* Safety and security
* Help and support
* Affordability
* Ease of use
* The best refund

According to Lundberg, questions you should look to answer when evaluating online tax programs are:

1. Does the program automatically check for accuracy?

Data entry errors and failing to enter key information, such as Social Security numbers, are some of the most common mistakes people make in preparing their taxes. Make certain the program automatically checks for errors or oversights. The program should provide links to the problems to help you quickly correct potentially costly mistakes.

2. Is the site secure?

You want to use an online program that encrypts your data using recognized security standards. Only use e-file programs that have been tested and approved by the IRS. These will display the IRS e-file logo on their home page.

3. What are the help options?

Ideally, the program should be straightforward, allowing you to finish your tax returns on your own. But you will want comprehensive help should you run into a question you can't answer. So make sure the online tax program provides help resources on every page and offers support via e-mail or live online chat.

4. Does it clearly show the cost of preparing and filing your returns?

The cost for using the program should be displayed clearly on the first page so that you can make an informed choice. According to Lundberg, many first-time filers and other taxpayers with uncomplicated tax situations can take advantage of free versions offered by some online tax prep providers. For example, CompleteTax's Free version can be used to prepare and file 1040EZ and even certain simple 1040 tax returns. Even if your taxes are more complicated, there is online software for basic federal income tax prep and e-file starting at under $20.

5. Is it easy to use?

Most online programs allow you to try them before you buy. You don't have to go to a store, purchase the software, install it on your computer and hope you like it. Rather, you simply go to the online program's Web site and start using it. Before you purchase, you can make sure the online program you choose is easy to navigate and presents information clearly.

6. What features does it include to help maximize your refund?

Most taxpayers are concerned that they may be missing deductions or credits that could save them money. Look for an online tax program that offers tools to help you make the most of credits and deductions. For example, this could include tools to help calculate the value of charitable deductions, such as clothing or household items.

"Part of getting your taxes done right is getting the biggest refund you deserve," says Lundberg. "You need to pay taxes, but you want to use an online tax prep solution that's helping make sure you're not paying more than necessary."

More information on online tax preparation and e-filing is available from CompleteTax at www.CompleteTax.com.

Courtesy of ARAcontent

Published in Business

Five Ways to Save Time and Money on Your Taxes

(ARA) - The typical taxpayer is expected to spend more than three business days and more than $200 completing his or her tax return.

"That's too much time and too much money," says Gary Lundberg, product management director for CompleteTax (www.CompleteTax.com), an online income tax preparation program. "The good news is, there are a few easy things people can do that will help them save time and money doing their taxes, as well as make sure they get the biggest refund they're due."

As people get ready to file their 2009 tax returns, there are a few things they can do to save time and money.

1. Make sure you're prepared.

Having a few key items available when you start your taxes will save a lot of time. These include:

* Your tax return from 2008
* Social Security numbers for you, your spouse and children
* All W-2s (wage and tax withheld form for 2009 supplied by your employer), 1099s (statements on investment income provided by your financial services institutions), mortgage interest statements and other statements related to income
* All statements related to expenses that you will be claiming on your tax return
* The routing numbers and account numbers for the accounts in which you want to directly deposit your tax refund.

2. Use an online tax program.

One advantages of using an online tax program is that many of the items you need to start your taxes - like your prior year's return - can be stored by the program. So, you don't have to waste time hunting down information every year.

More than 32 million people filed their tax returns from their home computers during 2009, up nearly 20 percent from the prior year, according to Internal Revenue Service data. That number is likely to continue to increase as more people realize the benefits of online tax prep and electronic filing.

Using the right online tax program makes it a lot easier and faster for people to finish their tax return with no need to go to the store or download a program onto their computer.

Online tax programs also are a lot more accurate. In fact, the IRS reports that an electronically prepared and filed return has an error rate of less than 1 percent, compared to an error rate of about 20 percent for a paper prepared return.

3. Free file if you can.

Depending upon how complicated a person's taxes are, they may be able to prepare and e-file their tax return absolutely free. For example, if you don't need to itemize, and only have a few simple requirements - such as claiming the Earned Income Tax Credit - you may be able to use a free online tax program. For example, CompleteTax offers a free version of its program and the IRS lists other providers participating in the Free File Alliance.

If your tax situation is more complicated - for example, you have itemized deductions, investment income or you are a small business owner - you will want to make sure to purchase the online solution that is tailored to your needs. Good online tax programs for people with general tax needs are available for less than $20 and even investors or small business owners who have more complicated returns can find solutions for less than $75.

"Completing your tax returns does not need to be a drain on your wallet," says Lundberg. "The right tax program can save a taxpayer both time and money."

4. Maximize your credits and deductions.

The average tax refund for 2008 was nearly $2,800. However, many taxpayers have the sinking feeling that they are not getting the tax breaks they should. In fact, according to an independent survey conducted by CompleteTax, two-thirds of 1,000 randomly surveyed taxpayers fear they may overlook tax breaks or make mistakes that could cost them in fines or penalties.

"There are dozens of credits and deductions that people may have available to them. So it's important to make sure that the tax program they're using is geared to identify these and guide them to options that will maximize their refund," says Lundberg.

Some programs will also provide tools to help further ensure accuracy. For example, while millions of people donate clothing and household items to charities, few have any idea of the value. A tax program, such as CompleteTax, with a charitable donation calculator, provides an easy way for determining and documenting the fair market value of these items, helping you realize the greatest charitable contribution deductions you can.

5. E-file and use direct deposit.

Electronically filing and using direct deposit significantly increases how quickly taxpayers have access to their refund. Generally, e-filers can have their refund deposited directly into their accounts within a few days, compared to the weeks it takes to receive a mailed check. Certain tax programs also allow customers to split their refund and deposit it into three separate accounts. For example, you could deposit part in your checking account, part in your savings account and part directly into a tax-advantaged IRA account.

"E-filing and direct deposit don't cost you anything, but they can mean you have your refund faster so that it can start working for you - whether that's paying off debt, buying something you want or saving for the future," Lundberg says.

Taxpayers can find more money-saving tips through CompleteTax news and tax alerts at www.CompleteTax.com.

Courtesy of ARAcontent

Published in How To

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Project Family by Dale Sadler

What You Need to Know Before Doing Your Taxes Online

Five Ways to Save Time and Money on Your Taxes

eResources

Business Assistance - General Information

Business Name

Business Plans

Commercial Enterprises

Directories

Employees

Finance

Home-Based Business

Insurance

Legal

Marketing &Market Research

Recordkeeping &Accounting

Taxes

U.S. Government Resources

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