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Tax Refund

7-Step Road Map to Managing Your Taxes Better, Part One

7-Step Road Map to Managing Your Taxes Better, Part One

By on Mar 16, 2017 in Tax Refund, Taxes | 0 comments

If you were told that there is a basic 7-step method to managing your taxes better—from the beginning of the year to April’s deadline, wouldn’t you be interested in knowing how that actually works? Success Tax Relief’s Vice President and featured co-author of Jack Canfield’s The Road to Success, Deaphalis Sample, share 7 valuable secrets to what he coins as the “One Call Close”. Originally devised to help professionals get an edge over the competition, the Once Call Close can not only help entrepreneurs but anyone who is looking to better his or her finances. Here, we’ll share with you a brief summary of these 7 principles and how they can be applied to managing your taxes better. Step 1 – “The power to define is the power to fulfill…” In other words, you’ll have what you say. Defining what your goals are in life is half of the battle. Being able to identify your goal allows you to visualize it, and if you can visualize it, it then becomes a bit more attainable. For instance, what do you want to get out of your annual tax filing? A refund? Well then if that’s what you really want, then you need to define that that would look like in your life, and what’s required of you to make it happen. Make a list if you must, but be sure to identify it. Step 2 – “People follow purpose” People who have not found their purpose tend to follow those who do. So, if you’re able to conquer Step 1, then you’ve not only defined a goal, you’ve now identified your purpose and there’s nothing left to do, but pursue it! People will see this and follow you! If you’ve not found your purpose yet, find someone who has. Chances are, they’re quite organized with their finances. Learn from them! Step 3 – “People follow pleasure” If you’ve defined your goals and have begun to pursue your purpose, chances are you’re having fun doing it! When you discover what you’ve been made to do in life, it becomes easy—it’s still going to be hard work, but the work entailed could be done in your sleep. In other words, you make...

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Got a Tax Refund? Discipline Your Spending with Priorities Over Pleasure

Got a Tax Refund? Discipline Your Spending with Priorities Over Pleasure

By on Mar 13, 2017 in Tax Refund | 0 comments

It’s that time of the year! Tax season, which for a great many people means tax refund time! After 30 years of helping taxpayers take care of their taxes, we know all too well how tempting it can be to celebrate your tax refund with a nice shopping spree. However, chances are if you’re in need of tax relief services, there is probably an underlying problem that is causing the delinquency of such payments. If this is the case, we can help you with that. As the CEO of Success Tax Relief, I’ve learned that successful people have excellent time management skills. And great time management skills can be applied to one’s finances. Oftentimes, it’s not about the lack of income you’re generating, it’s about how you manage it. There are plenty of millionaires who have gone bankrupt because they couldn’t manage their money properly. Q. So what can you do about getting the most out of this year’s tax refund? A. By applying P.O.P. to your life! What is P.O.P.? P.O.P. = Priorities Over Pleasure and it’s a great way to not only manage your finances, but also your life as stated in the book I co-authored with entrepreneur and professional speaker Brian Tracy Ignite Your Life. By applying P.O.P. toward your tax refund, you’ll soon discover that your money will be spent more efficiently, and you might even have some to save! P.O.P. is all about getting what you need instead of what you want. You’ll be surprised to discover that your need might be shorter than your list of wants, but the actual need will be far more fulfilling once it’s met. Feeding your wants may be temporarily appeased, but eventually they’ll be something else that you want—whether it’s a new car, clothes, make-over, home, or vacation, etc. But here’s the great thing about P.O.P.—if you take care of your priorities, you’ll eventually be able to treat yourself with the so desired pleasures you crave! Sacrificing What You Want Now For instance, if you take care of your credit card debt, then you’ll have the finances to pay other debts. Eventually, you won’t have any debt at all which will free up your finances to go...

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I’ve Got Extra Money On My Tax Refund…What Should I Do?

I’ve Got Extra Money On My Tax Refund…What Should I Do?

By on Mar 3, 2017 in Filing Taxes, Tax Refund, Tax Tips | 0 comments

  If you received more money on your taxes than originally expected, don’t celebrate too quickly! If for some reason, you received more money because of an error, you will be liable for paying that money back. So, it’s just best practice to verify, and then verify once more before submitting your claim to the Internal Revenue Service (IRS). Believe it or not, it is possible for the IRS to make a mistake. There are some rare cases where you may end up getting too much or not enough on your taxes. In most cases, the IRS will catch these errors. It may result in a delay of your refund though.   Have the Experts Review This is why Success Tax Relief, a tax relief firm located in Texas, highly recommends taxpayers to hire an experienced accountant or tax preparer to take care of the filing process. There are too many things that could go wrong if an inexperienced taxpayer attempts to take care of his or her taxes, even with an EZ Form.   Don’t Celebrate So Quickly So, once you’ve verified that you have indeed legally received more than expected on your tax refund, then the one thing you absolutely should not do is go on a blind shopping spree. Do not spend your money hastily. Businesses all over the country are well aware that tax season has come and will be offering a plethora of sales and bargains during this time of the year—which is typically between February and April.   Be Smart. Be Responsible. When it comes to money, you have to be smart. Take care of any obligating debts. It may be tempting to use that extra money to treat yourself, but once that “treat” has been used, your debt will still be waiting for you. Wouldn’t it be nice to pay off a credit card knowing that you won’t have to worry about getting another bill in the mail? That might be just as fulfilling as going on a short-lived vacation. Sometimes, a piece of mind trumps everything else!   Start By Paying a Little! Many people might try to reason that the extra money won’t make much of a difference to their...

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5 Ways to Get Your Tax Refund on Time

5 Ways to Get Your Tax Refund on Time

By on Jul 12, 2016 in Filing Taxes, Tax Refund | 0 comments

Sometimes, certain situations are out of our hands. However, if there’s something we can do to make sure that things go smoothly, like receiving our tax refund on time, then it’s our responsibility to make sure that as responsible taxpaying citizens, we’re doing everything on our part to make sure that happens. Unfortunately, there are some people who think that all they have to do once they receive their W2s is hire a tax preparer and wait 30 minutes before everything is processed. If you’re 20 years old, it might go down that way, but as you get older, more responsibilities come your way that sometimes affect your annual income, and you have to include this in your filings. When it comes to tax filings, there’s always proof of documentation needed to support your information. Oftentimes, this is where you may run into some problems. That’s why Success Tax Relief, a full service tax relief firm in LaPorte, Texas has proposed five ways that will help ensure you get your tax refund on time: Gather important documents ahead of time. By being proactive and getting all of your documents ahead of time, you’ll eliminate any wasted time spent on finding social security cards, marriage license, divorce papers, birth certificates and adoption papers. These types of documents often require a certain amount of processing time to re-acquire if for some reason you’ve lost or misplaced these things. If you wait until tax season to start gathering these documents and find that you’ll need to get new ones, this will delay the tax filing process. It could ultimately make you miss the deadline that could in turn, result in a late filing with penalties that could be deducted from your late filing. To avoid all of this, just make sure that you have all the important documents needed to file. Keep your previous tax filings organized. Every time you file taxes, the Internal Revenue Service (IRS) will want to know how much income you earned last year. This doesn’t have to be a complicated answer if you have your tax filing from the previous year. Whether it’s in a filing cabinet, filed electronically, in a flash drive, or in the cloud,...

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Reasons Why You May Not Have Received Your Tax Refund Yet

Reasons Why You May Not Have Received Your Tax Refund Yet

By on May 26, 2016 in Tax Refund | 0 comments

There are only two reasons why you may have not received your tax refund yet: You were late filing, or there is a discrepancy on the Internal Revenue’s Services (IRS) part. Both of these reasons will prompt some sort of action from you.  When it comes to matters with the IRS, there is no finger pointing—even when you’re not at fault. It is your responsibility to follow through and make sure that things are moving along accordingly. If you’ve hired someone to file your annual taxes, it’s still your responsibility to see to it that they are filing your paperwork in a timely manner. The last thing you want to do is hand over your time-sensitive documents along with your hard-earned money and walk away! Discrepancies That Might Cause Delays As efficient and particular the IRS has a reputation of having, some things may still have a tendency to get caught in the cracks. Don’t let your filing be one of those cases! Anything can cause a delay in processing your annual refund. As minor typos, missing information, the wrong address—anything can delay the filing process immensely. Understanding How the Filing Process Works One thing you must take into consideration is that while the IRS entity is huge, there are tax preparers who are handling a massive amount of tax filing cases. So when one needs to be set aside because of a discrepancy, the tax preparer will just continue on to the next tax filing case, and so forth until, eventually they get back to the pile of cases that had missing or questionable information. This can take anywhere from weeks to months and oftentimes, this will depends on you. If you call them, the IRS representative will be forced to address your case immediately. The IRS will contact you by phone when they need to discuss your annual tax return with you. The sooner you comply, the sooner you the process moves along. Follow Through Delays in processing your tax refund can be attributed to why you haven’t received your refund yet. Delays can often result in late filing, thus a late tax return mailing or deposit. The IRS can even make mistakes, but here again, this...

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5 Responsible Ways to Spend Your Tax Refund

5 Responsible Ways to Spend Your Tax Refund

By on Apr 19, 2016 in Tax Refund, Tax Tips | 0 comments

For those who have filed their annual taxes electronically, you may have already received your tax refund! For those who prefer to do it the old-fashioned way to avoid electronic filing fees, your tax refund might be coming in the mail any day now! Then there are the late-filers and not to mention those who may have filed on time, but due to minor discrepancies, may have a delayed filing, thus a delayed check. At any rate, this is usually the time of year when those checks start coming in the mail if you didn’t select for direct depositing. Tax Refunds Tax refunds are looked at by some as free, or even extra money. The reality of tax refunds is that it is actually money that the government borrowed from YOU. It is money that is rightfully yours. The way this works, is that the Internal Revenue Service (IRS) assess how much money should be taken out of your wages based on your total annual earnings, and household status. Oftentimes, the IRS takes out more than they should and trues up around the tax season. Some people owe money and others might be issued a refund. For those who are lucky enough to receive a refund, the tax experts at Success Tax Relief want to provide you with 5 smart ways that you can spend your tax refund. Pay Off the Smaller Debts There might be some outstanding credit card debts that are hanging over your head and you may only be able to pay the minimum amount just to keep the collectors at bay. Use this opportunity to pay off your credit cards and either shred them or put them away for emergencies only. Don’t Spend the Tax Refund So often, it’s easy to want to go out and spend your refund as soon as you get it. This year, try doing absolutely nothing with it. Deposit it in your savings account and go on with business as usual. You’ll have the comfort of knowing that you have a nice cushion of savings in your bank account whenever you need it. Invest You don’t necessarily have to be a broker to invest your tax refund. Go to your...

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