How long can i file exempt for without owing any money? 3 months , 6 months?
I just started claiming exempt on 1/27/2017 ;i'am single. i get paid weekly about $17hr and Over time about $25. I Have been working 56 to 54 hours a week. How long can i file exempt for without having to pay taxes?
How long can you typically go without paying your apartment rent if you got a 3 days notice to pay the rent or get out?
I assure you that not paying your rent is one of the worst decisions that you can make. Your life will not be the same after an eviction. It can be a very traumatic experience.Every state is going to have slightly different eviction laws but here in Ohio my company has a very large rental portfolio in the Cleveland area and this is how we handle tenants who do not pay rent.Rent is due on the 1st.Rent is late on the 2nd.We call tenants 3x day from the 5th through the 10th.We put up 3 day notices on the 10th.After the 3 day notices we file for eviction. Once we file we will no longer accept rent. At this point the non paying tenant can't pay or get out of the legal ramifications of their actions.We win the court eviction and get a write to regain possession of the property. The eviction remains on your record for life. It will be incredibly hard if not impossible to find another landlord willing to rent to you.We send in the bailiffs (guns drawn) to the home. If you do not open the door they kick it in and forcibly remove any occupants living in the home.Everything that the tenant owns is placed on the curb by a moving crew. They can clear out an entire home in about 2 hours. They are not vary delicate with your possessions. Everything stays on the curb until 5pm. Scrappers and thieves usually come by and steal anything of value. At 5pm we bring a dump truck and load up everything that is left and take it to storage. After 30 days in storage we take it to the dump.After all of the above a non paying tenant can also expect the following to happen.We take you back to court and sue you for back rent, legal costs and damages.We garnish your wages until all debts are paid off.As you can gather from everything above being evicted is a terrible experience that is 100% preventable by you. Don't be stupid, pay your rent or move out of your landlord's property you are only hurting yourself if you don't.For more information on evictions take a look at the LIVE video of one of my company’s evictions below.Have more Real Estate related questions? Let me know! Follow/Subscribe & simply ask. I will make you a FREE video reply. #AskJamesWiseFollow me on InstagramSubscribe to my YouTube ChannelWould you like access to a FREE list of the most profitable Real Estate Investments in the USA? CLICK HERE FOR ACCESS!
Which is the lesser of 2 evils, a car repossession or filing for bankruptcy?
It really depends. I do know that he can do a voluntary reposession. The bank will take it back, it will go to auction, then he will have to pay the remaining balance. I knew a couple people who did this. It did not go on their credit b/c it was voluntarily repo'd then the debt against them was paid based on an agreed upon schedule, so they both never got into bad standing with the bank. Personally, I would list the vehicle for sale. Lets say he owes $20g on the car. Then lets say he sells it for $15g. That is a $5g loss. So if he had a credit card or could take out an unsecured private loan then his problems would be solved. Another possibilty is trading down. If he has an expensive vehicle, he can take it to the car dealership, get an old cheap car, the dealership will take the new car, he'll still be stuck with some debt from the expensive car, but at least the payment would go down some. And, it would probably be better than repo-ing or bankruptcy.
What is the tax rate for a signing bonus? It seems I was taxed ~50%?
The IRS has rules for withholding on "supplemental wages" - which includes bonus payments - that differ from their withholding rules on regular wages. Assuming that your bonus was less than $1 million, the employer has a choice of withholding a flat 25%, or combining the bonus with the regular wages, computing the withholding as though that were a single payment, subtracting out what would have been withheld from the regular wages, and withholding the remaining amount from the bonus payment. The method chosen depends on the employer's payroll system but will typically be higher than your normal withholding rate. The employer will also withhold Social Security and Medicare (combined rate of 7.65%) and state taxes, which is probably what pushed the total withholding close to 50%. It's also very likely that you will get a significant chunk of that back when you file your 2013 tax return.See Section 7 of IRS Publication 15 for a description of how supplemental wages are handled.
What happened to Worldcom after the financial scandal. Did it survive?
The company emerged from Chapter 11 bankruptcy in 2004 with about $5.7 billion in debt and $6 billion in cash. About half of the cash was intended to pay various claims and settlements. Previous bondholders ended up being paid 35.7 cents on the dollar, in bonds and stock in the new MCI company. The previous stockholders' stock was valueless. It has yet to pay many of its creditors, who have waited for two years for a portion of the money owed. Many of the small creditors include former employees, primarily those who were laid off in June 2002 and whose severance and benefits were withheld when WCOM filed for bankruptcy. A group of some of these employees have formed the exWorldCom5100 group. On February 14, 2005, Verizon Communications agreed to acquire MCI for $7.6 billion. On March 15, 2005 Bernard Ebbers was found guilty of all charges and convicted on fraud, conspiracy and filing false documents with regulators — all related to the $11 billion accounting scandal at the telecommunications company he founded. He was sentenced to 25 years in prison. Other former WorldCom officials charged with criminal penalties in relation to the company's financial misstatements include former CFO Scott Sullivan (entered a guilty plea on March 2, 2004 to one count each of securities fraud, conspiracy to commit securities fraud, and filing false statements [2]), former controller David Myers (pleaded guilty to securities fraud, conspiracy to commit securities fraud, and filing false statements on September 27, 2002 [3]), former accounting director Buford Yates (pleaded guilty to conspiracy and fraud charges on October 7, 2002 [4]), and former accounting managers Betty Vinson and Troy Normand (both pleading guilty to conspiracy and securities fraud on October 10, 2002 [5]). On July 13, 2005 Bernard Ebbers received a sentence that would keep him in prison (potentially Yazoo City in Mississippi) for 25 years. At the time of the sentence Ebbers was 63 years old. He may potentially be let out of prison at the age of 83 on terms of good behavior. In March of 2005, 16 of WorldCom's 17 former underwriters reached settlements with the investors ([6]). Citigroup settled for $2.65 billion on May 10, 2004 ([7]).