How much does it cost to file taxes?

The filing process is already tedious to many, especially the poor. The filing fees will also add to your problems. Without proper experience, you will end up with more severe tax issues.

The key is to prepare ahead. How much should you set aside when you pay taxes? Read on below for a breakdown of the cost of filing your taxes.

How Much Does It Cost to File Taxes?

How much does it cost to file taxes? It depends on the method that you’ll use for filing. One of the most common routes is hiring a tax advisor.

These professionals save you from all the complicated process of filing taxes. After all, tax advisors consider different factors for their fees. Some tax advisors charge an average minimum fee of $172.

The amount can go up depending on the complexity of the tax return. Others have a set fee for every form and schedule:

• Form 940 (Federal Unemployment) is $78.
• Form 941 (Employer’s Quarterly Return) is $96.
• Form 1040 and state return, no itemized deductions is $220
• Schedule C is $192

Most of today’s tax advisors charge an hourly rate that costs an average of $138.

How to File Your Own Taxes

You can also handle the filing yourself if you have time to spare. The traditional way is to fill out by hand and mail the IRS Form 1040 or Form 1040-SR. A better way is to file taxes online using tax software.

The software gives you online access to tax professionals who can answer your questions on-demand. They can do online reviews of your tax documents and file them online on your behalf.

You can get the tax software packages for as low as $39. Interestingly, you can file taxes online through the IRS Free File program. You’re eligible to pay taxes online for free if your 2021 adjusted gross income is $73,000 or less.

Single and married taxpayers can use the IRS Free File through any of the following services:

• Free 1040 Tax Return
• Online Taxes at OLT.com
• ezTaxReturn.com
• FreeTaxUSA
• FileYourTaxes.com
• TaxAct
• TaxSlayer
• 1040NOW.net

These options come with their respective restrictions that apply to certain states and ages of the taxpayers.

Tips for Lowering Your Taxes

On top of preparing for the tax filing fees, work on lowering your tax bill. Reduce your taxable income by adding more money to your 401(k).

Buy municipal bonds and place your money on a local government entity. The interest in municipal bonds is federally tax-exempt.

Aim for long-term capital gains by investing in mutual funds and real estate. Hold your capital asset for over a year and enjoy 0%, 15%, or 20% preferential tax rates on your capital gains.

You can also start a business and deduct some expenses from your income. Check out Wealthability reviews to learn how to reduce taxes on your business.

Increase Your Financial Knowledge

We hope our guide answered, “how much does it cost to file taxes?” Use this knowledge to choose the best filing method. You can also prepare a budget and simplify the tax filing process.

Are you interested in more financial topics? Check out our other blog posts today.

With the many choices available for financial management software online, how do you choose the right one for your business? Specific software exists for taxes, budgeting, analysis, and beyond.

To find the right financial management platform for your business, you need to define what you are looking to prioritize.

Once you better understand your specific business needs, you can choose a suitable platform to tackle your top financial priorities. Keep reading to better define which of those priorities the right financial management software can help you with.

1. Financial Revenue Forecasting

If your business can gather valuable historical data, it can predict future trends. Some of these trends may include future income, revenue, and spending. This data is invaluable for business strategists.

A financial management platform not only tracks financial data but can be used to compare your business alongside outside market trends. Some of these market trends may include mergers and acquisitions.

2. Cash Flow Tracking and Management

The right financial management software can help you track money throughout your business. You can check how and where cash is spent and set limits on spending with corporate cards here.

You will have access to real-time cash flow data and transaction statuses. This real-time data helps you with budgets, allocations, consolidations, and other cash management.

3. Advanced Analysis and Assessment

Your accounting department can use financial management software for multi-department financial analysis. As a result, your accountants can generate accurate, detailed reports with ease.

This includes balance sheets, budget allocation, profit and loss, and other valuable reports.

Once your accounting team pulls the reports, they can further customize them ad hoc style. This is a great addition to heightening your business management.

4. Automated Financial Processes

By automating specific processes within the financial management software, you can stay more consistent with government and industry regulations. In addition, your new software platform can produce and maintain regular, detailed records of your business’s financial dealings whenever needed.

Creating individual reports each time you process a transaction can be labor intensive and diminish your accounting team’s productivity.

5. Ease of Use and Accessibility

Accessibility and usability of financial management software can is customizable, too. For example, you can choose how many employees have access to specific information.

In addition, you can choose to install the software. You choose to install it directly or keep it in the cloud to free up valuable server space in your network.

If you want to access certain information on the go – ask about a mobile app. A cloud-based software solution will be best for accessing the information on the go.

The Right Financial Management Software for Your Business

Defining which financial management software will suit your business is not easy. However, we hope this concise guide gives you better insight into the possibilities offered.

That said, don’t be afraid to take the time you need to do more research. Also, take the time to negotiate a risk-free trial period with the financial platform you intend to use for your accounting needs.

If you found this article helpful, let us know in the comments below. See you back at the blog.

There’s a common misconception that in order to be a DIYer, you need to have an extensive toolkit. While it’s true that having the right tools can make your life a lot easier, it’s not necessary to buy every tool under the sun. In this article, we’ll discuss some of the essential tools that every DIYer should have in their shop.

Tape Measure

A tape measure is one of the most essential tools in any DIYer’s toolkit. It’s used for everything from measuring the size of a doorframe to checking the distance between two points. When shopping for a tape measure, make sure to get one that’s at least 16 feet long.

Saw Horses

Saw horses are another must-have for any DIYer’s toolkit. They’re used for holding materials in place while you’re working on them, and they come in handy for a variety of tasks such as sawing, sanding, and drilling. When shopping for saw horses, make sure to get a pair that can hold up to 500 pounds.

Circular Saw

A circular saw is a must-have for any DIYer who does metal fabrication. It’s used for cutting metal sheets and other materials, and it can be set to various angles for precision cuts. Make sure to get a saw that has a blade guard for safety.

Wrench Set

A wrench set is another essential tool for any DIYer’s toolkit. It’s used for tightening and loosening bolts and screws, and it comes in handy for a variety of tasks. When shopping for a wrench set, make sure to get a set that includes both metric and imperial sizes.

Pliers Set

Pliers are a type of tool that consists of two metal handles that are connected by a spring-loaded hinge. They’re used for gripping, bending, and twisting objects and they come in a variety of sizes and shapes. When shopping for pliers, make sure to get a set that includes both needle-nose and flat-nose pliers.

Hammer

One of the most important tools in any DIYer’s arsenal is a hammer. It’s used for pounding nails into wood and other materials, and it comes in handy for a variety of tasks. When shopping for a hammer, make sure to get one that has a comfortable grip and a solid head.

Drill

A drill is, without a doubt, one of the most important items in any DIYer’s toolkit. It’s used for drilling holes into wood, metal, and other materials, and it comes in handy for a variety of tasks. When shopping for a drill, make sure to get one that has a variable speed setting and a keyless chuck.

Level

A level is an essential tool for any DIYer who wants to ensure that their projects are level and accurate. It’s used for checking the level of surfaces, and it comes in handy for a variety of tasks. When shopping for a level, make sure to get one that has a clear acrylic vial.

Square

A square is an essential tool for any DIYer who wants to ensure that their projects are square and accurate. It’s used for checking the squareness of surfaces, and it comes in handy for a variety of tasks. When shopping for a square, make sure to get one that has a clear acrylic vial.

Chisel

A chisel is a type of tool that’s used for cutting and shaping wood and other materials. It comes in a variety of sizes and shapes, and it can be used for a variety of tasks. When shopping for a chisel, make sure to get one that’s made from high-quality steel.

Sandpaper

Sandpaper is an essential tool for any DIYer who wants to achieve a smooth and polished finish. It’s used for sanding down surfaces, and it comes in a variety of sizes and grits. When shopping for sandpaper, make sure to get a variety of grits so that you can achieve different levels of smoothness.

Safety Glasses

It’s important for every DIYer to wear safety glasses when working on projects. They protect your eyes from debris and other hazards, and they come in handy for a variety of tasks. When shopping for safety glasses, make sure to get a pair that has a high-quality lens and a comfortable fit.

These are just a few of the essential tools that every DIYer should have in their shop. By having the right tools, you’ll be able to complete tasks with greater precision and efficiency. So before you start your next DIY project, make sure to stock up on the essentials!

In 2020, consumers watched 12.2 billion minutes of online videos. This statistic highlights the importance of investing in high-quality content for your business.

However, most people don’t have the time or money to invest in a professional video editing suite, so their videos always look like they were made by amateurs.

Not only do poorly edited videos look unprofessional, but they can also hurt your brand’s image.

But don’t worry. Keep reading, as this video editing tips article will show you how to make higher quality videos without spending a fortune on software or hiring a professional editor.

1. Use High-Quality Footage

Poor image quality will quickly ruin a video, no matter how well edited it is. Make sure to use good-quality footage to start with.

You can find high-quality B-roll footage at places like Pexels and Videvo. These will give you a more polished look when you edit videos online.

2. Use a Strong Soundtrack

A good soundtrack can really elevate a video, and help to set the tone and mood. Choose something that fits the feel of your video and that you’re happy with.

Many video editing tools come with stock audio files, so check them out before purchasing royalty-free music.

3. Keep Your Edits Concise

Long, drawn-out edits can be frustrating for viewers and can quickly lose their attention. When inside your video editor, try to keep your edits short and sweet, while still conveying all the necessary information.

4. Use Transitions Sparingly

Transitions can be a great way to add some visual interest to your video, but using too many of them can be distracting and overwhelming. Use them sparingly and only when they genuinely add something to the video.

5. Make Sure Your Audio Is Clear

Bad audio can be just as jarring as poor image quality. Be sure to use good-quality microphones and recordings, and edit out any unwanted noise in post-production.

You can achieve clear audio inexpensively with many great lavaliers (lapel microphones) available for around $50.

6. Add Subtitles or Captions

Subtitles and captions can be a great way to make your video more accessible. They can also help to ensure that viewers don’t miss any important information.

For example, if part of your audience is hard of hearing, subtitles and captions can make sure your message is seen by everyone.

7. Export in the Highest Quality Possible

When you’re finished editing, be sure to export your video in the highest quality possible. This will ensure that your video looks its best when it’s shared online.

Want More Video Editing Tips Like This?

By following these video editing tips, you can make sure your content is of the highest quality. Creating great videos isn’t easy, but it’s definitely worth the effort.

The importance of video quality may seem insignificant to you at the moment, but rest assured that these tips can increase audience engagement, which will increase your company’s profits.

Want more content marketing advice like this? Check out our blog!

Did you know that 95,000 people reported $770 million in losses related to a shopping fraud initiated on a social media platform in 2021? A majority of these online shopping scams were related to purchases being initiated on a website directed from a social media platform, but then never receiving the product.

This is primarily because everyone nowadays is way too comfortable making purchases online. In most cases, these purchases get to us on time and without any problems. But in some, a scam ensues.

Let’s read on to see some online shopping safety tips.

1. Use a Protected Payment Method

If the seller you are looking at doesn’t offer a protected payment method, like PayPal or a credit card, then avoid that seller implicitly. You don’t want to buy something and then have no way of getting your money back if it turns out to be a scam.

With PayPal and with credit card purchases, you are protected in case of fraud. You will get your money back and the seller will be flagged in their system as a scammer. It’s a win-win situation since it protects everyone else who could potentially get scammed in the future.

2. Make Sure to Research the Online Seller Extensively

Take the time to research the seller properly, especially if it’s one that you have never purchased from before. Just because they have an Instagram profile and a website doesn’t mean that they are legitimate sellers. Anyone can pop up a storefront website and an Insta page nowadays in a matter of seconds.

Some things you can do, are:

• Check how old the brand’s website is
• Does the brand offer any contact information like email, phone number, or something else?
• Does it seem to have a legitimate address?
• Is the website secure – does it have a padlock symbol in the address bar of your browser along with https://?
• Does the website have a privacy policy and other such pages indicating thoroughness?

It might seem like a pain to go through all these checks, but it will ensure that you don’t lose out on your precious money due to an online shopping scam.

3. What Do the Online Reviews about the Seller Say?

You are probably not the first one this seller is trying to scam out of their money. So make sure to go online and research the seller to see what others are saying about them.

4. If It’s Too Good to Be True, It Probably Is

Finally, follow this motto when shopping online – if your purchase price and shopping details seem too good to be true, then they probably are. Run in the opposite direction fast and make sure to report the scammer to the FTC so no one else has to go through it in the future.

Click here to learn how to make yourself feel secure when purchasing from a website in a different language.

Online Shopping Scams Can Be Easily Avoided

Remember that, with a bit of forethought and planning, you can avoid online shopping scams and keep your money safe and sound and in your pocket. The scammers aren’t that much smarter than you, they are just relying upon you to be careless and inattentive. Don’t give them even that tiny chance!

If you wish for more useful articles such as these, keep browsing through our blog!