Still Time to Act to Avoid Surprises at Tax-Time.. Even though only a few months remain in 2014, you still have time to act so you arent surprised at tax-time next year. You should take steps now to avoid owing more taxes or getting a larger refund than you expect. Here are some actions you can take to bring the taxes you pay in advance closer to what youll owe when you file your tax return: Adjust your withholding. If youre an employee and you think that your tax withholding will fall short of your total 2014 tax liability, you may be able to avoid an unexpected tax bill by increasing your withholding. If you are having too much tax withheld, you may get a larger refund than you expect. In either case, you can complete a new Form W-4, Employees Withholding Allowance Certificate and give it to your employer. Enter the added amount you want withheld from each paycheck until the end of the year on Line 6 of the W-4 form. You usually can have less tax withheld by increasing your withholding allowances on line 5. Use the IRS Withholding Calculator tool on IRS.gov to help you fill out the form. Report changes in circumstances. If you purchase health insurance coverage through the Health Insurance Marketplace, you may receive advance payments of the premium tax credit in 2014. It is important that you report changes in circumstances to your Marketplace so you get the proper type and amount of premium assistance. Some of the changes that you should report include changes in your income, employment, or family size. Advance credit payments help you pay for the insurance you buy through the Marketplace. Reporting changes will help you avoid getting too much or too little premium assistance in advance. Change taxes with life events. You may need to change the taxes you pay when certain life events take place. A change in your marital status or the birth of a child can change the amount of taxes you owe. When they happen you can submit a new Form W-4 at work or change your estimated tax payment. Be accurate on your W-4. When you start a new job you fill out a Form W-4. Its important for you to accurately complete the form. For example, special rules apply if you work two jobs or you claim tax credits on your tax return. Your employer will use the form to figure the amount of federal income tax to withhold from your pay. Pay estimated tax if required. If you get income thats not subject to withholding you may need to pay estimated tax. This may include income such as self-employment, interest, or rent. If you expect to owe a thousand dollars or more in tax, and meet other conditions, you may need to pay this tax. You normally pay the tax four times a year. Use Form 1040-ES, Estimated Tax for Individuals, to figure and pay the tax. **Over 6000 Satisfied Clients Since 1999** I am the Home Purchase Experts and I love helping people with Life’s Biggest Purchase. I do everything to make buying a new home and getting a home loan quick and easy. No matter if this is your first home or an investment home for you, I have the information to help you find and get the mortgage that’s right for you. “It is hard to believe that it has been years since I first started in real estate but when you truly enjoy what you do time has a way of moving quickly. I earned my real estate license, sold and closed my first home in less than 30 days after that and have not looked back since. Being a resident of the Metro Detroit area I have developed a deep love and appreciation for our area and am proud to call it home. I love the peoples, our sports teams and all the hidden gems that make this such great area to live and raise a family in. I am a platinum certified foreclosure specialist and a HAFA certified short sale specialist in addition to the many years of traditional Real Estate Sales. I pride myself not only on my professionalism, but also on my ability to understand my clients’ needs and ever changing market conditions. That comes from years of experience and thousands of transactions and many satisfied homeowners. I’ve always felt that to truly help someone you must first build a relationship of trust. Trust in that I know what I am doing and that I have your best interests in mind at all times. That relationship and trust is what will give you confidence and peace of mind thru out the entire process. I am proud to be a member of RE/MAX and look forward to helping you achieve the dream of home ownership or help you sell the most important investment in your life which is your home.” Listen to my radio’s program “MORE THAN REAL ESTATE” on WMZK 690 AM Detroit every Monday and Thursday at 1:00 noon. Listen to it via internet by going to: birach Then go to: Listen to 690 am Enjoy my program…. Mike Bahry Master Realtor Mailing Address: RE/MAX Vision 26075 Woodward #300 Huntington Woods MI 48070 Mike Bahry Master Realtor Phone Number Text: (248) 790-9366 Patrick Bahry Assistant: (248) 854-1649 Office Phone: (248) 548-4400 Office Fax: (248) 548-8775 Cell: (248) 790-9366 Email Address: [email protected] mikebahrysellshomes@gmail mikebahry@hotmail
Posted on: Mon, 27 Oct 2014 16:02:41 +0000
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