Financial News, Tips & More!
How Much is Sales Tax in Orange County?
The current sales tax in Orange County, California, is 7.75%. Taxes break down to federal, state, and local levels. So the total you'll pay can vary from city to city within the county. However, there shouldn't be any large swings in this rate. How is all of this figured out? Why do you have to pay these taxes, and...
What Happens If You Forgot a W2 on Your Taxes?
The IRS may reject your return if you forget a W2 on your taxes. In the event this happens, you can add the forgotten document and refile it. In some cases, the IRS may accept the initial filing. They're a busy and understaffed agency. Unfortunately, they don't have the staffing to catch every error. When this...
How Much Are Property Taxes in Orange County California?
The average effective property tax rate in Orange County is 1.04%. A homeowner with a house worth $500,000 would pay $5,200 in property taxes each year. Property taxes in Orange County, California, are some of the most expensive in the country. It's one of the wealthiest counties in the state. How much you pay as an...
How to Immediately Stop Wage Garnishment
To stop a wage garnishment immediately you should contact a lawyer who can determine if you will have to file for bankruptcy or create an objection with the court. You may also be able to make a settlement to respond to your debts. The options available vary according to your state laws and other factors. Wage...
Why Don’t Schools Teach Taxes?
The general consensus of why schools don't teach students about taxes is because there are too many variables when reporting income. People file taxes differently and it is considered impractical to teach students about this topic. There is a controversy around the issue of teaching taxes in schools. Some people feel...
The Future of Cryptocurrency Taxes
There has been much discussion about how to reform the United States tax system to better serve the American people and it is time we move toward innovative solutions. I propose a blockchain-based digital asset to bring a broken US tax administration system into the 21st century. A blockchain is simply an immutable...
What is RDP in Taxes?
RDP is a Registered Domestic Partner. If you are a Registered Domestic Partner, the IRS does not recognize this partnership as a marriage. In California, RDPs have to file their federal and state tax returns separately. RDP couples have to file tax returns as "Single" or "Head of the Household." When living with a...
What Happens if You Marry Someone Who Owes Back Taxes?
If you are married or marry someone who owes back taxes, you are not liable for the debt. The IRS provides relief options for those who file jointly and individually. If your spouse owes back taxes, filing Form 8379 allows you to keep your refund. A tax professional will be able to assess your unique case and review...
How To Grieve Taxes
Researching your property’s fair market value is the first step towards determining how to grieve taxes. From there you will need to file a petition with the municipality, write a letter of support and provide supporting documentation. A tax grievance takes place when a property owner (residential or commercial)...
Why Do I Owe State Taxes but Not Federal?
As most tax filers know, the annual tax season is a time of surprises. On rare occasions, the surprises are pleasant, and we owe less than we thought or will be getting a larger refund than we expected. However, most of the surprises we get during tax season are of the bad variety, and this is especially true if we...