Tips to Avoid Tax Trouble During the 2015 Holiday Season
The holiday season is approaching. That means America is about to see a major boost in the economy. According to Statista, Christmas, celebrated by Christians and non-Christians, is “the largest economic stimulus for many nations around the world as sales increase dramatically in almost all retail areas.” Also, the United States alone reportedly made an estimated 3 trillion dollars in the 2013 holiday season. That’s a lot of money! This is supposedly during harsh economic times in the U.S.
How are Americans able to afford to contribute to such a powerful boost in our economy if the nation is supposed to be in a deficit?
It can be argued that perhaps, we spend too much! Maybe the focus is more on what can be consumed rather than what should be restored.
Everybody Must Pay, Including You!
Believe it or not, there are millions of U.S. taxpayers—ranging from the working class, to the middle and upper class—which are in debt to the Internal Revenue Service (IRS). The money that is saved to go toward the expense of the holiday season can easily be put toward taking care of financial debt.
That’s no fun!
Of course spending money on gifts and cool electronics is going to give a shopper immediate gratification. Yet, there’s another thing that is immediate: Consequences of ignoring or neglecting your financial obligation toward the IRS; but don’t worry, you can still have an enjoyable holiday season and avoid any tax trouble!
Here are a few tips to avoid that will help your 2015 holiday season be merry:
Sounds simple, yet difficult to do around the holiday season. Around this time of the year, retail businesses want you to buy their product more than ever! Most of them plan ahead conducting research analyses trying to figure out what they can do to make you spend your money on their stuff! Commercials, online advertisements, and mail flyers are coming at you with items that you may have been salivating over all year and finally, around the holiday season it seems as though you can now afford it. Or can you?
You always have the free will to buy or don’t buy. It is important to consider your financial obligations and don’t spend more money than you earn—even if that item is 75% off!
Don’t Default on Any Outstanding Payments
Let’s face it, more often than not, you know who and what you owe. Pay them! Defaulting on payments will only hurt you in the future. If you can’t afford to pay the whole amount, negotiate some sort of monthly arrangement.
Avoid Letting Things Get Out of Control
The holiday season can get a little crazy! Either your traveling, someone’s visiting you, traffic is impossible, or it just takes a little longer in the grocery line. Any one of these things can cause you to post-pone financial obligations of something as simple as filing important paperwork and tax documents that you may need for the tax filing season. Don’t procrastinate and let your financial commitments spin out of control because you’re too tired from this or that.
Success Tax Relief: Getting a Hold of the Situation
We understand finances can get a little overwhelming and it’s all you can do to keep your head above water, especially if you are trying to avoid any tax trouble with the IRS. Success Tax Relief is a tax resolution service that helps taxpayers like you resolve and avoid any tax issues with the IRS. To learn more about our services and what we can do to help handle your tax obligations, call us today at 877-825-1179 or schedule a consultation with us online now.