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How To Save Through Financial Planning Strategies

How To Save Through Financial Planning Strategies

How To Save Through Financial Planning Strategies

We all are managing the finances in our personal life. Someone is worried about their studies where the other could be worried about getting married. Everything revolves around money nowadays when you have to do something big. If you have to get married, you need money and if you have to study then you need more money. If you do not have much money then it gets hard for you to reach where you have imagined.

There is no one in the world who is living on the average pay and does not save their money out of their income. It is all about saving but how do you do that? That happens with the financial planning strategies which you have to implement in your life. You have to adopt the new lifestyle and impose it on yourself with having the plan one to two years before you want to attain the goal.

Goal Orientation 

When you work hard towards the goal then you will be able to reach it without any time. You will surely find out the ways out of which you can study or do something which you wanted to do after collecting that much of the money in the account. Many students take loan to study and then they keep on paying the debt later on with their jobs. Do they save? No they do not so why not wait a little in the early life and save money then attend the college.

If you are teenager, you do get the realization that now it is time to earn. As you keep on earning and do not have to pay the rent, then you can save a lot of money. You do not have any dependents so you can surely keep the money in the account with little spending so you can invest it later on. It helps you in not depending on anyone when there is the time when you need money. No one is going to provide you the money for free but you will have to earn it. When you earn it, you are confident and then more ways are there for you to explore in that sector.

Planning Step by Step 

Financial planning strategies are depending on you and how you want to proceed. It is completely on you which step you want to take upon the aim you are trying to reach. Even the big businesses sin the market have the financial planning strategies to adopt so that they can expand their business in the market.

You have to organize the money by yourself and it is better not to depend on anyone. when someone take the loan to get the business started, they have to pay it back and then what they earn after that become their profit. Until the time they are paying back the debt, they do not have any profit in their pocket. It is necessary for everyone to have the financial planning strategies according to their own situations so that they do not go broke.


When you are consistent with your aim and have one in mind that you have to reach there then you do all the effort and do not let it waste. If you receive the salary by the end of the month, you can easily save half of it with minimizing your expenses. Do not fall into the trap that the more you earn, the more you can spend.

If you have to purchase something then divide it upon the months and keep the savings alongside. You should always have in mind that there needs to be a backup with you when you are earning. In case of any emergency you have to keep in mind no one will be there for you to support you financially but you will have to do all the efforts on your own. The strategies need to be defined by you so that you can be comfortable with it if you require any help then you can always consult with eth accountant to help you out. They have a set of standard which you can discuss and they can guide you accordingly. If you feel that they are leading you to the right source then you can surely follow their advice.

Common Tax Deductions

Common Tax Deductions – Different Kinds In Different Places!

Common Tax Deductions - Different Kinds In Different Places!

There are numerous kinds of taxes imposed upon the people in different countries. While it is almost impossible to mention almost all of them, we will surely be putting light upon a few common tax deductions and few kinds of taxes which people have to pay when living in a country.

If you are starting an online business, you have to follow a few rules which will help you to deal with your online sales tax. It is better if you take the help of a professional accountant or a tax accountant which will give you better idea of your online sales tax. Below there are three of the business taxes which you need to know about:

  • Estimated taxes
  • Employment taxes
  • Sales tax

What is the online sales tax?

Before we go on to sales tax, let us first take a look at the online sales tax. Sales tax is a kind of pass-through tax which is imposed on the customers in many of the countries. This means that a small percentage of the sale will be added in the bill of the customer. It is the customer who will pay the tax, but you will have to collect and deposit the tax.

Sales tax on internet sales

If you operate an online sale, it will give you the liberty to sell anyone anything all across the world. However, with this kind of freedom, it involves the sales tax. Many of the sellers on the internet are unaware if they should be collecting the tax from the customers.

Nanny taxes

A nanny tax usually exists because according to the IRS a nanny or a household helper is the taxpayer’s employee and not an independent contractor who can deal on her behalf. The taxpayer then becomes the employer and has to bear the responsibility of paying the social security taxes, Medicare as well as the governments unemployment taxes on the salary that they pay to their employees.

Gas taxes

A gas tax is also known as petrol, gasoline as well as fuel duty and it is imposed on any state when the fuel is sold. In the majority of the countries, the fuel tax is applied on the fuels which are used for transportation. Fuel rates are taxed at a very low rate and they do not increase a lot as well. In fact, there are many countries where the gas taxes have not been increased or updated since decades now.

In some countries, the fuel tax is a source of revenue for the state which can then be used to maintain the infrastructure of the country. Apart from that, fuel tax can also be used as eco-tax in order to protect the environment and keep it safe.

Direct seller taxes

If you are a direct sales consultant, your job is to buy and sell the merchandise. You must, however, have a complete record and inventory so that you can keep the record of the purchases made at the beginning of the year. This inventory is also important so that you make the entry about the purchases you will make in the later years.

Charitable deduction taxes

The charitable deduction is the contribution and donation to charity with deductions for taxpayers. Charitable deductions allow the taxpayers to deduct the contributions they do to qualify for the charitable property and cash. It does have a few limitations though.

Charitable tax deductions are applied to cash and money. They can not be applied to material things such as clothes and furniture etc. however, in the current bad situation sometimes non-cash charity is what is required especially in urgent situations.

Some help you to plan out your taxes!

After reading the strategies we are now going to mention the five ideas in order to do the tax planning for the upcoming year. These five ideas are:

  • Take a look and evaluate your alternate and primary locations of residency
  • Have a look at the charitable deductions
  • Take a look at your mortgage debt
  • Find out more about college saving plans and invest your money there
  • Keep track of your portfolio along with keeping the tax efficiency in your mind

IRS will Pay Refunds

IRS will pay refunds during the shutdown, easing pressure for a deal

The Internal Revenue Service will issue refunds to taxpayers even if the U.S. government shutdown extends into the filing season, a decision that may reduce political pressure on Congress and President Donald Trump to reach a deal to reopen the federal government.

“Tax refunds will go out,” the acting director of the White House Office of Management and Budget, Russell Vought, told reporters at a briefing on Monday.

In previous shutdown contingency plans, the IRS would accept tax returns during the filing season, but refunds would be delayed until the government was funded. Vought said the administration is fixing what he called a problem faced by past administrations.

The decision will come as a relief to many taxpayers who file their taxes as soon as the filing season begins to claim their refund checks, which averaged $2,899 last year. Within the first week of the 2018 filing season, more than 18.3 million people claimed about $12.6 billion in refunds. The IRS hasn’t yet announced the start date to file tax returns this year but says it’s on track to begin in late January or early February.

The policy change also removes a major political incentive for lawmakers and the White House to reach a deal in the coming weeks. If refunds won’t be held hostage, the shutdown effects will be felt much less widely, relieving some of the strain on Congress and Trump to resolve the current impasse about how much money to spend on a border wall with Mexico.

No ‘excruciating pressure’

If people weren’t able to get refunds there would be “excruciating pressure” on lawmakers to cut a deal, said Mark Everson, a former IRS commissioner. The calls congressional offices are receiving about the wall would morph into inquiries about why families haven’t received their refunds, he said.

In the past, the IRS has said it couldn’t issue refunds during a shutdown based on its interpretation of the Antideficiency Act, the rules governing what type of government work is permissible during a shutdown to protect life and property.

However, given the political popularity of allowing refunds to be processed during the shutdown, it’s unlikely OMB would challenge the IRS’s decision.

Republicans are under pressure this filing season to show taxpayers how they benefit under the new tax law. GOP leaders acknowledged they had lost the messaging battle about who benefits from the tax cuts ahead of the mid-term elections, but proponents of the law have said people will have more appreciation for it once they see how the overhaul affects them directly.

By Laura Davison

Published Bloomberg News

January 07 2019, 4:46pm EST

Clear Financial & Tax Services

5 Technology Predictions

We are living in a wonderful time cause blockchain, 5G, and other technology advancements are will change the world economy.  After traveling around the world and working around the world, these are the 5 predictions.

Over the past year, U.S. tech companies have been at the center of attention on a national and global stage—at the receiving end of a dizzying array of political, economic, and social changes.

Whether it’s dealing with a growing number of regulations, or shoring up data privacy measures in response to heightened scrutiny, the industry now faces several critical questions.

How can tech companies…

  • Encourage experimentation, while mitigating risk?
  • Balance the need for speed with thoughtful deliberation?
  • Fuel growth in global markets with increasingly protectionist sentiments?
  • Ensure the continued protection of sensitive consumer data?
  • Respond to public concerns of potential job losses due to new technologies?
  • Navigate the growing complexity of national and global laws and regulations?

In other words, how can tech companies scale sustainably without sacrificing their business goals and ambitions?

How the industry responds will dictate its fate in the years to come.


5G Becomes the New Standard.

TECH_Predictions-for-2019_graphic2-(1).png5G (fifth generation) wireless technology may have made its commercial debut this year—with Houston, Indianapolis, Los Angeles, and Sacramento is the world’s first cities to host live 5G networks for consumers—but 2019 will be the year it enters its prime time.

Besides offering higher downloading and processing speeds, 5G is
expected to significantly boost connectivity, productivity, the proliferation of Wi-Fi-enabled devices, and more. And while many telecoms are still working out the kinks, it’ll soon be the industry standard.



The GDPR Sparks a Flurry of New Data Privacy Regulations.

TECH_Predictions-for-2019_graphic3.pngThe European Union’s General Data Protection Regulation’s (GDPR) implementation deadline might have been in 2018, but it’s just the beginning of a new era of data privacy regulation and protection.

In January of this year, we predictions that the European Court of Justice would take action against a giant U.S.-based tech company for noncompliance with the GDPR—which will consequently trigger an avalanche of demand for services to help U.S. companies comply. Sure enough, the first major tech companies, Facebook and Google, have already been hit by several billion dollars’ worths of potential GDPR fines—and they won’t be the last. Data
privacy enforcement authorities will be especially keen to respond quickly to the first few data breaches to set a precedent.

And there will be more. Following talk of state regulations—such as California’s Consumer Privacy Act of 2018—we predict that a national U.S. law will soon come to fruition. Whether it’s written on tech companies’ terms, however, remains to be seen.

U.S. Tech Regulations Ramp Up.

We mentioned that tech may no longer be America’s golden child in ours. 2018 predictions and we’re seeing the results: Global and federal authorities are becoming increasingly involved in what were once deemed private company affairs.

While many of this year’s battles took place in Congressional testimonies and hearings, additional industry legislation—at home and abroad—is not far behind.

Nevertheless, while Big Tech may dominate the news, smaller companies producing emerging technologies—drones, autonomous vehicles, IoT devices, and more—will also encounter increased regulations aimed at protecting consumers and markets. Traditionally risk-averse federal agencies will be forced to weigh the risks posed by new innovations vs. the potential benefits, and address safety and privacy concerns without stifling innovation and experimentation.



Blockchain Becomes Basic (Almost).

TECH_Predictions-for-2019_graphic5.pngBlockchain has already taken the business world by storm, with the rise of several working industry groups aimed at assessing and promoting its applications last year.

While blockchain has already proven itself in one application (cryptocurrency), 2019 will see more of its uses unlocked across industries, as well as the continued growth of blockchain-as-a-service (BaaS) solutions. The environment is especially ripe for innovation now that data privacy protection, identity verification, and incorruptible recordkeeping are top of mind for tech executives.



Digital Transformation Transcends the IT Department.

TECH_Predictions-for-2019_graphic7.pngDigital transformation—once thought of as IT’s job—is now increasingly being taken on by non-tech leaders (i.e. CEO, CMO, COO) passionate about modernizing their business.

Tech companies must be prepared to interact with a variety of business leaders and to explain how their products and services will help solve critical business issues and pain points. Clearly articulating their technology’s value will become more important than ever, along with demonstrating proven ROI and business cases.

IRS Accepting Returns on January 28

Treasury also allowing IRS to issue tax refunds during the shutdown


A late-day announcement confirms the IRS will begin accepting and processing individual tax returns for the 2019 tax return filing season on January 28.

As usual, returns will be due to the IRS on April 15, according to the IRS statement. The only exception is for those filers in the District of Columbia, Maine and Massachusetts will have until April 17 due to local holidays.

The IRS plans to release details on its operational plans in the coming days but did report that a significant portion of its furloughed employees will be recalled.

Additionally, today the Treasury Department and the Office of Management and Budget agreed the IRS can issue tax refunds during a prolonged government shutdown. However, the IRS cannot issue refunds claiming the Earned Income Tax Credit (EITC) and the Additional Child Tax Credit (ACTC) before mid-February, as outlined in the PATH Act.

The administration is trying to make the shutdown as “painless as possible consistent with the law,” Russell Vought, the acting OMB director, told reporters.