Financial News, Tips & More!
When Can I Start Filing Taxes For 2020?
Many people are still focused on the 2019 tax year. With the IRS offering an extension due to COVID-19 which gives people until July 15, 2020, to file, thinking about 2020 taxes seems so far off. But it's not too early to start planning for next year. Our team at the Tax Crisis Institute has information for you to...
How to Estimate Taxes Owed
Paying your quarterly taxes may seem like a burden you wish you could pawn off to someone else. While no one is ever excited about filing their taxes, projecting your quarterly payments correctly can actually soften your tax burden when tax season rolls around. Our team a the Tax Crisis Institute has created a guide...
Financing or Leasing a Car: Which is Better?
Whether your current car has some wear and tear, you’re looking to upgrade the gas mileage or you want the latest and greatest technology, buying a new car is an exciting time. It’s also full of stressful decisions that will make you want to pull your hair out. One of those tough decisions is whether you should be...
What Are The Penalties For Not Paying Taxes On Time
Taxes are due on the 15th of April every year. If you pay your taxes late you’ll be subject to a 3% penalty, as well as possible wage garnishment and much more. At Tax Crisis Institute we specialize in helping individuals and families with the complications from unfiled or unpaid taxes. What you owe the government is...
What is The Average Tax Rate in The US
Knowing what the average tax rate is in the United States seems like an easy question to answer right? However, the U.S. progressive tax system makes it difficult to pin down what an ‘average’ taxpayer pays yearly on taxes. Taxes can be difficult but, here’s a guide from the Tax Crisis Institute to help you better...
What are the Tax Breaks for 2019 in the US?
Here at Tax Crisis Institute (TCI) we are here to help you navigate the tax laws of 2019. There’s a lot of changes that have been happening in the world of taxes and with the date of April 15 fast approaching. Tax breaks happen at several intervals. Starting with 12% and going up from there. If you are in the top...
How To Get Tax Relief From The IRS
Navigating the IRS and tax laws is no easy task. If you owe the IRS back taxes, interest or IRS penalties you may be in a lot of debt for your taxes. To make the situation even worse, tax lawyers are often expensive. These lawyers tend to charge a large amount for their specialization. This often leaves the taxpayer...
How To Calculate Social Security Wages?
Social Security wages are part of the FICA (Federal Insurance Contribution Act) along with Medicare. These taxes are withheld by the employer so that they can pay these taxes to the IRS as required. Both Social Security and Medicare are withheld in this way. If you have any questions about your social security wages...
5 Ways to Budget Your Money
Budgeting your money is an important skill to help you have a successful future. Proper budgeting can help you save money, pay off debt, or help you realize big financial goals. The Tax Crisis Institute wants to help set you up for financial success and teach you how to budget your money. 1. Be Realistic When Setting...
What are the State Taxes in California?
California has some of the highest taxes in the entire country, so it’s important to understand what you’re being taxed for. The state’s sales and income taxes are higher than the national average while property tax rates are below the national average. One of our goals at The Tax Crisis Institute is helping people...