Calculate Exact Amount of Tax To Be Deducted From Your Paycheck

It is important and maybe even beneficial to your financial situation to calculate the exact amount that you should pay to the IRS from your monthly check. Many employers deduct income tax is from your monthly pay cheques based on the number of your deductions. These deductions are based on an estimate of what you owe to the IRS. Sometimes the money that you pay as a deduction from your Paycheck is less than what you owe to the IRS in April or it is more in which is to get a tax refund.

In case you have other sources of income such as dividends, interest, second income, forgiven debts, rents and gifts above a certain value which are taxable, you should prepare yourself for the additional taxes on these sources of income in April.

Many people deliberately overpay their tax deduction from the Paycheck because they like to receive a tax refund is a lump sum. Getting this amount of money at the end of the financial year allows them to use it for some necessary expenditure. However, you should consider the facts that by paying an additional tax deduction every month you are reducing your monthly income. If you take the same money and save it wisely you can not only will that are saving fund but also on an interest on it. IRS does not pay an interest on the extra reduction that you have paid it also the year. The advantage of having a saving fund is that you can use this money if an emergency needs arise. You cannot ask the government for an advance on your refund if you ever need that money.

It is advice to get the opinion of a professional to calculate the exact amount of money that should be deducted from your Paycheck as an IRS tax deduction. Paying less means that you should be ready to come up with the payment on your taxes in April and paying more means that you are reducing your monthly income which you could use for a required purpose.

A consumer is allowed to pay taxes in April by using a credit card. You should consider the additional burden that you are going to put on your credit card in April especially if there are existing balances on it.

It is advisable to stay on top of the money that you owe to the IRS and pay your taxes because according to the current bankruptcy rules federal taxes cannot be discharged in bankruptcy nor can a credit card debt incurred from paying your taxes.

You should consult a tax attorney you are certified accountants to get a forecast of your tax commitments for you.

How to Rent an Apartment with Bad Credit Scores

Typically large complexes that are owned by corporations run a credit check on whoever wants to rent an apartment in their building. Landlords can check their credit history of the potential tenant if  he gives his express permission to the landlord. Just denying a check into your credit history will not be a sufficient measure if you have bad credit history. A credit check is mandatory in certain housing societies. Denying permission to check your credit file will lead the landlord with no option but to deny your application.

Here are a few things that you can do to still get to that apartment in spite of your poor credit rating:

Avoid a Credit Check
if you have a bad credit rating the key is to find a place where the landlord does not check their credit history of the tenant. Usually it is the larger complexes owned by corporations that to a credit check. If you’re able to find smaller and individual housing accommodations you may be able to avoid a credit check altogether. Go through the classified section of your newspaper or start by looking on craigslist which is an online classified listing. Many homeowners use real estate agents to rent their homes. You can check with the real estate agent in your area to find out information about apartment, townhouse, condo or house to rent. If you’re making initial Inquiries with the landlord over the phone you can always ask what criteria uses to approve tenants for the rental.

Get somebody to Vouchsafe
when your credit file is blotchy and is interfering with you finding a place on rent you can get someone to vouch for your financial responsibility. The people who can vouch for you who will have a reasonable impact on your rental application will be people like your previous landlords, your bank and your current or previous employers.

Repair Your Credit File
in case you are able to pay off the late and due accounts on your credit report before applying for a rental accommodation then do so. If this situation and the circumstances that led to bad credit or over in you can also try explaining to the landlord your circumstances and provide adequate proof of your current financial stability such as steady job, steady income etc.
Get Someone to Cosign
you can get someone to cosign on your lease. The landlord may be more willing to give you the place on rent if someone with a better credit rating is willing to cosign to you. You should be aware that whenever a person cosines view he is equally liable and responsible for your debt. For this reason it may be difficult to find a person ready to do this.

Pay More
if you have a blotchy credit file then you should be prepared to make a larger down payment or pay more lend to the landlord in order to convince him to give you the rented accommodation. A larger deposit or paying more rent may do the trick to convince him that you are financially sound to pay your rent on time.

Tips for Sending Credit Letters to Lenders

How to send a letter to creditors.

There are many circumstances in which you might need to send a letter to your creditor. In the credit industry it is best to commit rate with your creditors so that you have proof of the comic creation. The few circumstances in which you may need to write a letter to your creditor is point you want to dispute an error on your credit report, want to close a credit card account, wants to settle a debt collection account, wants to report a credit card stolen, want report and error on the credit card Bill and so on. The following are the chips and guidelines of how to send letters to creditors.

The very first rule of sending a letter to a creditor is to send it through certified mail and request a return receipt.

Many send a letter through certified mail the US Postal Department provides you with a tracking number with the help of which you can know who received your letter and when. Certain actions in the credit industry such as having the came of a debt validated from a debt collector has to be done within a certain time frame. Having proof of when your letter was received will provide you with proof in the future testifying to the fact that you sent in your request and when it was received by the lender. The return receipt requested is a request and not mandatory for the receiver of the certified mail to comply with.

Use a professional template.

There are thousands of templates available for different kinds of letters on the Internet. You can use any one of them to write a form and businesslike letter. Some common templates for letters to be sent to creditors are listed on this website as well.

Do not send in the originals.

If you to provide the creditor or a debt collection agency which documents always send in copies of the original papers. Some unscrupulous elements may force her the original documents or conveniently claim to have lost which could leave you in a helpless situation.

Keep copies off all that you sent.

Whenever you write a letter to the creditor keep a copy free yourself. Also maintain a copy of all the documents and correspondence that you have sent and received from the creditor. This will provide you with a complete record and proof of the correspondence made if your claim needs to be substantiated in the future.

Get the correct mailing address.

You should get the correct mailing address from a customer care representative over by calling up the office of the creditor for the Department you need to send your letter. For example if you’re disputing an error on your credit card built-in you need to catch the address for the billing dispute department which could be different from the address to send your payments to. Similarly reporting a stolen credit card or a fraudulent transaction on your credit card may have two very different addresses.


Certain actions needed to happen in a certain timeframe for you to be able to exercise your rights. For example reporting a certain error on a credit card billing statement or asking a debt collector to validate a debt has to be done within 30 days of receiving the information. This is why it becomes important that you follow-up with the consent party that they have received your request or modification by postal mail. When you follow-up letter that you have already sent to the consent party mentioned the tracking number of the original letter sent and the date it was received according to the tracking number.

Never Send Correspondence To Creditors and Credit Bureaus Without Certified Mail

Whenever you are in the process of repairing your credit you will in all likelihood be required to send some form of correspondence to creditors or the credit bureaus. Never send any form of correspondence without certified mail. If you have filed a dispute with the credit bureaus and have sent in the dispute while postal mail them sending it through certified mail will mean that you have proof of the correspondence in case there is no outcome to the dispute and no action is taken. Similarly if you have written a letter to the creditor to correct certain information that he is reporting to the credit bureau in his records than you will be in a position to prove such a request to the credit bureaus if he does not take the necessary action. The same holds true when negotiating with a collection agency or a creditor for the payment of an old due account.

Any form of correspondence that will be required later by you to prove your case to either the credit bureaus or in a court of law should be sent by certified mail to preserve it as a form of proof.