If you're self-employed, filing your taxes can be a real nightmare. The IRS is notorious for auditing small business owners. Unfortunately, that label applies to most people who are self-employed. The last thing you want to deal with is an IRS audit. They'll want to dig into all your business records to make sure everything matches. If you haven't incorporated, your personal taxes and assets will be fair game too. If you're self-employed, the first thing you want to do is get yourself incorporated.
- If you are in your 20s, chances are financial planning is the last thing you want to think about. Maybe you're in college or just starting your first real job and have only enough to pay your monthly bills. Whatever the case may be, you are at an age where making wise decisions now can have a significant impact on your financial future. Here are three important financial decisions to make in your 20s:
- When you apply for a mortgage loan, you're really asking a lender to take a big chance on you. As one of the largest investments the average person makes, lenders must have full confidence in both your ability and willingness to repay. There are several things you can do to diminish this confidence. Make certain you aren't making this mistake. Don't Buy a Car First Avoid buying a car just before you plan to purchase a home.
- If you have decided to take up a hobby, then coin collecting may speak to you as an interest. If so, then you will need to learn some of the numismatic basics. One of the basics is learning the coin grading scale and understanding how coins are graded by one of the four professional grading institutions. You may notice that one or several of your coins appear more aesthetically pleasing, but are graded lower than others.
- If you are thinking about buying a new car you might be considering an auto loan. An auto loan can be a great choice, since it will allow you to get the car that you want, but if not used correctly it can be frustrating. Here are some things that you should do to make sure that you are getting the best loan possible. 1. Go Through A Credit Union