Monthly Archives: August 2018

40 Passive Income Ideas and Ways to Make Extra Money, second income.#Second #income

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40+ Passive Income Ideas and Ways to Make Extra Money

Do you want to earn $100, $1000 or even more on the side? You can start earning extra income today with the help of this list of ideas I’ve put together. Spend an hour or two each day working on items that are practical for you, and you can build alternative income sources to help you improve your financial situation While many of the items on this list are passive income ideas, not all of them are. Some items require you to actively work for success.

While compiling this list, I did my best to avoid scams, and stick with practical ideas that work. I have tried many (but not all) of these ideas. Some of these helped me earned a few dollars here and there, but there are some that helped me earn extra money on the side every single day and some are still providing me with revenue! Note that not all ideas will fit your skills and abilities. What works for you depends on your abilities and your current financial situation.

Second income

Photo by ErRbBbiiIE via Flickr

Passive Income Ideas

Passive income involves ideas or methods that, once you set in motion, require minimal maintenance work. The following money making ideas are mostly passive, and are proven to work.

1. Earn Higher Interest on Your Savings

One of the easiest ways to increase your passive income is to shift your savings to a bank that pays a higher yield on your savings for example, Discover Bank and EverBank pay almost 1% for your money. Although it doesn’t sound like much (especially in this low interest environment), little things do add up and eventually interest rates will rise.

2. Build a CD Ladder

For a slightly higher yield, build a CD ladder. Break your money into smaller chunks and buy a series of 1-year high yield certificates of deposit. To learn more about this, take a look at How to Create a CD Ladder.

3. Lend Money via Social Lending Network

Lending Club is a platform where you can lend your money to other people. You’re the bank. Each note is only $25, so you can invest $1,000 and lend money to 40 people. There are many grades of loan (from safest to riskiest) and investors earn, on average, between 5% and 7% annualized returns. For more information, check out Investing and Making Money with Lending Club Peer-to-Peer Lending and my real money Lending Club Portfolio.

4. Invest in Dividend Paying Stocks or Funds

If you’re looking for current income, investing in the dividend paying stocks (or dividend funds) is a good way to earn money regularly. Pay particular attention to the S P Dividend Aristocrats; these are companies that have long histories of increasing their dividend payouts each year.

5. Use Cash Back Reward Credit Cards

You buy stuff every day: Why not make the most of your purchases? Take a look at these credit cards that pay 5% cash back on your purchases. When you make your day-to-day purchases, use a rewards card and get money back. My family receives several hundred dollars a year from using these cards.

6. Get Cash Rebates When Buying Online

When you shop online, go through Ebates. This web site provides you with extra cash back (on top of your credit card cash back) when you buy through them. Install the browser toolbar for even better results.

7. Earn Money When You Search

You probably do a couple of web searches each day. If you do all your web searches through Swagbucks.com (instead of Google or Bing), you can collect points called SwagBucks. Trade your SwagBucks for a variety of prizes, including gift cards for Amazon.com, Walmart, PayPal, and more.

8. Real Estate Investing

This is mostly passive once you have it all set up, but it does take a lot of work at the beginning. Real estate investing also requires occasional maintenance. Currently, we invest in a couple of rental properties and earn about $500 profit from each per month. You can read more about my rental properties at MoneySmartLife.com: How and Why I Became a Landlord.

If you don’t want to get your hands dirty, you can gain exposure to real estate investing through Real Estate Investment Trusts (REITs). REITs invest in real estate and mortgage, and pay out 90% of the taxable income to shareholders annually.

Ways to Make Extra Money

In addition to the passive income ideas listed above and other broad income generation ideas such as starting a business, getting a second job, and learning how to invest, here are specific money making ideas you can try. Most of these items require ongoing work to maintain the income.

  1. College students: Sell your used books and textbooks at the end of the semester.
  2. Sign up for Cash Crate, complete surveys, and refer your friends.
  3. Freelance using UpWork, Guru, Freelancer, Amazon Mechanical Turk and other similar sites for leads.
  4. Make money with YouTube.
  5. Make money on Twitch.
  6. Make money blogging. This blog has been providing me with daily income since 2007. You can learn more about blogging and start start your own blog. Use the following articles to learn more about starting a blog:
    • How to Start a Blog for Fun or Profit – Introduction to a Series at Cash Money Life.
    • 28 Ways to Make Money with Your Website at Daily Blog Tips.
  7. Write for money using a platform site like HubPages.
  8. You can also write for TextBroker and Constant Content. Apply to write for various websites that hire freelance staff writers.
  9. Ghostwriting. This is very similar to the idea above, but you write anonymously and the assignments are usually longer. You can ghostwrite articles, blog posts, and even books.
  10. Offer basic services, including babysitting, housekeeping, gardening, dog walking, painting, snow removal, and other similar “odd jobs.” These basic services can provide income for motivated teenagers and most of these can be done right in your neighborhood.
  11. Offer skilled services such as tutoring, resume writing, business consulting, blog development, and logo design.
  12. Turn your hobbies into income streams. Many hobbies, like photography, videography, quilting, gardening, and woodwork are ideal revenue generators.
  13. Sell handmade products on Etsy.
  14. Write and sell eBooks. This is easier than ever with the help of Amazon and the Kindle.
  15. Enter contests and giveaways (use Google Alerts) and sell the prizes.
  16. Search for freebies and sign up bonuses. For example, you can typically get a $100 bonus from a credit card sign up.
  17. Turn your everyday spending into college savings with Upromise.
  18. Become an Amazon Associate, and ask your friends to use your affiliate link when they make purchases.
  19. Sell unused items on eBay or Craigslist. You can also buy bulk items and resell them individually.
  20. Sell your collectibles.
  21. Start a bulk candy vending machine business.
  22. Mystery shopping.
  23. Find missing money using sites like MissingMoney, Where’s My Refund, TreasuryHunt, PBGC database, and GovBenefits.gov.
  24. Create and sell CafePress T-shirts.
  25. Set up niche online store. Some good examples are Amazon.com aStore and eBay Niche Store.
  26. Participate in paid focus group studies.
  27. Sell your body parts and fluids.
  28. Collect cans and bottles for recycling.

More Income Resources

  1. 19 Great Passive Income Ideas That You Can Build Now at Wealth Pilgrim
  2. 65 Home Business Ideas You Can Do From Your Kitchen Table at Good Financial Cents
  3. 15 ways to make $200 quick at Christian PF
  4. 10 Unusual Ways to Get Money Fast at Cash Money Life
  5. 25 Ways to Make Money Today at WiseBread
  6. Multiple Income Streams: 10 Ways to Earn Extra Income at The Dough Roller
  7. 5 Ways To Make Some Extra Money at Bible Money Matters
  8. 52 Ways to Make Extra Money at Prime Time Money
  9. Everyman s Guide to $30 / Month in Passive Income at Money Smarts Blog
  10. Spend less than you earn the wrong way to think at Brip Blap
  11. 20+ Free Passive Income Resources at Life Optimizer
  12. Passive Income: How to Earn More and Work Less at About.com
  13. 8 Ways To Earn Passive Income Online at iSiteBuild.com
  14. Automate Your Income to Simplify Your Life at Zen Habits
  15. Passive Income is the Key to Freedom and Retirement at All Financial Matters
  16. Defining Alternative Income at Lazy Man and Money
  17. 40 Ways to Make Money on the Internet at Dumb Little Man
  18. 102 Ways To Generate Extra Cash at Savings Advice

If you like this article, be sure to check out my Extra Income Guide.


Income tax saving tips and advice, income tax saving.#Income #tax #saving

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Income tax saving tips and advice

Income tax saving

Tax Saving Tips and Advice

To get the maximum benefits and save tax you would need expert guidance. IncomeTaxReturnIndia.com provides professional and expert Income tax guidance. To get more details you can reach us any time. Our tax experts will help you reduce your tax liability. You can save Income tax through multiple options couple of them have been discussed below:

House Rent Allowance( HRA)

Interest on Housing Loan

Investment in house property to save capital tax again

Investment under section 80C

Tax exemption from Investment Bonds

Give Donations to trust etc and get tax benefits

Tax Free Incomes

Que). I am paying rent of just Rs 15,000/- P.m . Till last year , My employer did not ask for PAN copy of landlord, but this year they want PAN card copy of landlord. Please advice is my employer correct in asking for PAN copy.?

Ans: PAN number is compulsory if Rent during the year exceeds Rs 1,00,000/-.

Que). How much can I save through House Rent Allowance (HRA) ?

Ans: House Rent Allowance (HRA) is exempt up to a certain limit if you are actually

Que. Can I save income tax by Housing loan?

Ans: When ever you take housing loan. You repay housing loan through monthly EMI. This EMI has got 2 components -Interest and Principal. Both are deductible, but separately.

Maximum Interest that can be claimed as deduction to the tune of maximum of Rs 150,000/-, if the property is not let out.

Principal amount repaid can be claimed as deduction under section 80C with overall limit of Rs 1,50,000/-

Capital gain on sale of House

Que: I have sold my Residential House and at profit. Want to know how can I save income tax on such capital gain?

Ans: If the house was held by you for more than 3 years then, on sale of such asset you can get income tax benefit, if you fulfills following conditions:

a) You have either purchased another residential house, one year before the Date of Sale or

b) You plan to purchase another residential house within two years from the date of sale; or

c) You plan to construct another residential house within three years from the date of sale.

In case of (b) or (c), you need to deposit the amount of Capital Gain in a Capital Gain Account Scheme before the due date of filing your income tax return.

Que: I am going to purchase property above Rs 50 lacs, please advice if any TDS is to be deducted? If yes, who can it be deducted?

Ans: Yes, since you are buyer you need to deduct TDS on property if total value exceed Rs 50 lacs. Please note following points:

  • TDS is to be deducted by you @ 1% of value.
  • Your are not required to have any TAN no
  • Only PAN no of your and Seller is to be mentioned filing depositing TDS.
  • TDS can be deposited online.
  • TDS need to be deducted by you at the time of making the payment to the seller and has to be deposited within a period of 7 days from the end of the month in which the deduction has been made.
  • Form 26QB has been prescribed for making such payment and the form for doing the same has been uploaded on the following website of NSDL: https://onlineservices.tin.nsdl.com/etaxnew/tdsnontds.jsp
  • Issue of TDS Certificate: The TDS Certificate shall be issued in Form 16B within 15 days from the due date of deposit.
  • In case the PAN Card No. is not given by the seller, TDS would be required to be deducted @ 20% under 206AA

Tax Saving under Section 80C

Que: What are Tax Saving Instruments available to me under section 80 C?

Ans: Under Section 80C benefits, you can get an exemption of up to Rs 1 lakh on contributions to a wide range of investments. These include :

Employee Provident Fund (EPF),

Investments in National Savings Certificate (NSC),

(For purpose of investment under section 80C premium paid for dependent or independent , major or minor children are eligible for deduction)

Investment in equity-linked savings schemes (ELSS), and

Unit linked insurance plans (Ulips), among others.

You can also claim a deduction for the school or university tuition fees you pay for your children provided they are enrolled in a full-time course at any institute in India.

Home loan principal repayment also qualifies for deduction under the overall limit of Section 80C.

Investment Bonds/Infrastructure Bonds

Que: Can I get Income Tax exemption from Infrastructure Bonds?

Ans: Rs. 20,000 tax exemption is provided for investments in certain Infrastructure Bonds. This is in addition to the already allowed exemption (Rs. 1,00,000) in certain savings instruments. Effective for AY 2010-2011, Ay 2011-2012 and Ay 2012-2013. This is no longer applicable for Previous year 2012-13 (ie Ay 2013-2014)

Que: You can save tax when you make donations?

Ans: You claim tax benefits on donations you make. Deduction is available under Section 80G of the I-T Act in respect of donations made by an individual to certain funds and charitable institutions. The rate of deduction, is either 50 or 100 per cent, depending on the choice of trust. Besides, donations must be made to registered institutions only. Only donations of upto 10 per cent of your total income qualify for such a deduction.

Que. Is Gift received from Relatives Taxable? Also gifts received form other taxable?

Ans:Gifts received from specified relatives are exempt from income tax, and there is no upper limit also.

Gifts of any amount and from anyone received during your marriage are totally tax-free.

Similar is the case with the gifts received under a Will or by way of an inheritance,

From a registered charitable or education organisation or in contemplation of death of the donor.

Que. Income sources where in I don t have to pay income tax?

Ans:There are couple of sources from which you can earn income and don t have to pay tax as well, They are-

Dividends from equity mutual funds and stocks

Long-term capital gains on stock transactions are not taxed if you have paid the securities transaction tax on the sale

Interest earned on PPF

Amount received on Maturity of LIC Insurance Policy

Gifts Received from relatives. (See Relatives)

41 Responses to Income tax saving tips and advice

Me and my wife are co-owners of house. We pay annual interest of 2.8 lakhs. will the whole amount be used as deduction benefit from my as well as my wife Income.


E-file: Income Tax Return Electronic Filing – TurboTax Tax Tips & Videos, tax return efiling.#Tax

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E-file: Income Tax Return Electronic Filing

Updated for Tax Year 2017

Forget that paper tax return! Electronic filing (efiling), online tax preparation and online payment of taxes are getting more popular every year. If you ve wondered about efiling, here are the answers to frequently asked questions, including why efiling is a good idea, which states let you efile, how much efiling costs, and how soon you ll receive your refund.

Why e-file?

Here are some reasons why electronic filing makes sense for most taxpayers:

  • Fewer mistakes Using tax software such as TurboTax substantially reduces errors. According to the IRS, 20 percent of income tax returns prepared on paper have mistakes, such as missing information or taxes calculated using the wrong tax tables; half of those errors cause folks to overpay their taxes. But only about 1 percent of returns prepared electronically contain errors. If there is a mistake on your return, the IRS can detect it and send back an error report in as few as 48 hours so that you can quickly fix the problem.
  • Speedier preparation You can get the job done a lot faster if you tackle it with your computer. Filing from your computer saves you the trip to the post office, too.
  • Faster refunds If you send in your return by mail, you can expect to wait up to six weeks for your refund. Efiling your return and electing to have your refund deposited directly into your bank account is the fastest way to get your tax refund. If, however, you still prefer to send the IRS a paper return, TurboTax gives you that option.

How will I know that the IRS has received my tax return?

Ever worry that your return might get lost in the mail? Efiling lets you rest easy. When you send a return by mail, you have no way of knowing if the IRS received your return unless you pay extra for certified mail with a return receipt. It could take weeks for you to get that receipt.

But if you file electronically, the IRS notifies you by email within 48 hours that it has received your return. And if the IRS detects any errors, it will send an error code that TurboTax will translate into a text message telling you what the problem is, how to fix it, and how to retransmit your return.

Can I avoid having to file anything on paper?

You can save more trees than ever using efile. You can now file a completely paperless return, right down to your signature. You can use a self-selected Personal Identification Number (PIN) just as you would at a bank ATM. The PIN is your electronic signature.

Can I efile my state tax return, too?

The following 37 states and the District of Columbia allow you to e-file your state return at the same time you file your federal tax return online from your personal computer. This is called the Federal/State E-file for Taxpayers program. Essentially, you send both returns to the IRS, and the IRS electronically forwards your state return to the tax authority in your state.


Income Tax efiling Online in 6 Simple Steps for Free, tax return efiling.#Tax #return #efiling

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Income Tax efiling Online in 6 Simple Steps for Free

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Tax return efiling

Income Tax efiling can be done online through the Income Tax Website without any cost in 2 different ways:-

  1. Income Tax efiling by downloading the ITR Java utility or the ITR Excel Utility and furnishing details in the excel utility offline and then uploading it on Income Tax Website
  2. Income Tax efiling without downloading the Java Utility and furnishing all details online itself.

Procedure for Income Tax efiling using ITR Java Utility/ ITR Excel Utility

The Income Tax Department releases an updated income tax software for free every year for income tax efiling online. The Income Tax Software is released both in the form of Excel as well as Java Utility.

The Java Utility is a new type of utility and is much easier to file than the Excel Utility. Earlier, only the tax utility was released but now the Govt also releases a Java Utility which is much easier to file than the Excel Utility as it fetches a lot of details automatically and uploading the returns through the Java Utility is also much easier.

The following Article are the steps involved for Income Tax efiling by downloading the Java/ Excel Utility:-

  1. Logon to https://www.incometaxindiaefiling.gov.in and select the Income Tax Return Form for your type of Income. There are various different Income Tax Return forms for different class of assessees. Recommended Read: Which Income Tax Form should you use?
  2. Download the ITR Java/ Excel Utility which pertains to your Income Tax Form and furnish all details in the ITR Java Utility and also cross check the same with the figures as mentioned in your Form 16/ Form 16A/ Form 16B and Form 26AS.
  3. After furnishing all details in the ITR Utility and validating the same, you can directly upload your Income Tax Return through the Java utility by logging in your account on the income tax website through the Java Utility itself. Alternatively, you may create a xml file of the Income Tax Return and then upload this file on the income tax website. (If you ve forgotten your income tax efiling password, refer this article on How to recover income tax efiling password).
  4. On successful upload of your income tax return, an Acknowledgement Details would be displayed. An ITR-V would also be automatically generated and sent to your registered email id.
  5. In case while efiling income tax return you used your Digitally Signatures to digitally sign the Income Tax Return Form, the whole process gets completed on generation of Acknowledgement .
  6. However, in case while efiling income tax return , you didnt use Digital Signatures , on successful uploading of e-Return, the ITR-V Form would be generated and sent to your registered email id. This ITR-V Acknowledgement form should be signed by the Tax Payer and sent to the Income Tax Office.
  7. From the Financial Year 2014-15 onwards, the govt has also extended the option of linking the Aadhar Card with the ITR Form. Once the Aadhar Card and the ITR Form have been linked, the taxpayer wont be required to physically send the ITR Form to the Income Tax Office even if he didn t use the Digital Signature to sign the form.

Procedure for Income Tax efiling without downloading the Excel Utility

Income Tax efiling can also be done without downloading the Income Tax Software and simply by furnishing all the details online. For efiling Income Tax Return without downloading the Java Utility, a person would be required to login to his account on https://www.incometaxindiaefiling.gov.in and then go to e-File Income Tax Return Prepare and Submit Online

If the Income Tax Returns have not been Digitally Signed, the taxpayer would be required to take a print out of the ITR-V Acknowledgement Form, sign it and send it to the Income Tax Department

The Address for sending duly signed ITR-V form is “ Income Tax Department – CPC, Post Bag No 1, Electronic City Post Office, Bengaluru 560100, Karnataka ,” by ordinary post or speed post only, within 120 days of transmitting the data electronically. In case, Form ITR-V, is furnished after the end of 120 days from the date of filing of Income Tax Return , it will be deemed that the return in respect of which the Form ITR-V has been filed was never furnished and it shall be incumbent on the Tax Payer to electronically re-transmit the data and follow it up by submitting the new Form ITR-V within 120 days. This completes the income tax efiling process for non-digitally signed Returns.

Tax return efiling

Other Relevant points regarding Income Tax efiling

  1. The Self Assessment Tax computed as per the Income Tax Slabs (after deducting the TDS and Advance Tax paid) is required to be fully paid before filing the Income Tax Return. (Recommended Read: Income Tax Slab Rates).
  2. In case excess tax is paid by the taxpayers, he can claim a refund of income tax by disclosing all facts in the income tax return. (Procedure for claiming Income Tax Refund)
  3. The due date for Income Tax efiling is 31st July of the Assessment Year for taxpayers not required to get their Tax Audit done. For all taxpayers who are required to get their Tax Audit done, the Due Date is 30th September . (Category of Taxpayers who are required to get Tax Audit done by a Chartered Accountant)
  4. If a taxpayer is unable to file the income tax return before the income tax filing due date, he may file a Belated Income Tax Return along with Interest and/or Penalty.
  5. In case any error is recognised in the income tax return by the taxpayer himself, he may file a Revised Return of Income u/s 139(5) before the expiry of 1 year from the end of the relevant assessment year or before the completion of assessment (whichever is earlier).
  6. There are several other softwares of private vendors which are authorised by the Income Tax Deptt for Income Tax efiling online.

In case of any query with respect to income tax efiling, please post them on Chartered Club Q A Portal and we would be happy to answer.

Karan is CA by Qualification with the rare distinction of being awarded All India Rank 22. He is also the founder of this website and loves to help people with their Tax Queries.

Tax return efiling


TaxHow – Pennsylvania Tax Filing, pa income tax.#Pa #income #tax

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Pennsylvania Tax Filing

Pa income tax

Filing Your Taxes in Pennsylvania

Filing taxes can be frustrating. Here, you can find information that will help make filing your taxes easier and faster. Find out what your residency status is, which forms you need to file and on what income.

One thing all people paying taxes in Pennsylvania need to keep in mind that Pennsylvania charges local and school taxes in addition to the 3.07% state income tax. If you have a low income, you may qualify for a Tax Forgiveness Credit.

Income tax returns must be filed by April 18th.

Online Tax Software: Taxes Made Easy

If you want to make doing your taxes online easy, you might want to consider using online tax software. e-File.com and TaxAct are the most well-known software providers out there for doing your taxes online, but they each have their pros and cons: Compare them here!

  • Fast Refund
  • Pricing
  • Ease of Use
  • Accuracy
  • Phone Support
  • Local Support
  • FREE Audit Support

Pennsylvania Tax Forms

  • PA Schedule PA-40X – Pennsylvania Schedule PA-40X – Amended
  • PA Tax Booklet – Pennsylvania Personal Income Tax Return Booklet
  • PA Form PA-40 – Pennsylvania Income Tax Return
  • Pennsylvania Schedule G – Pennsylvania Credit for Tax Paid To Other States
  • Pennsylvania Form Rev-276 – Pennsylvania Application for Extension to File
  • PA Schedule A/B – Pennsylvania Interest and Dividend Income, Income from Estates and Trusts
  • Pennsylvania Schedule C (Form 1040) – Profit or Loss From Business
  • Pennsylvania Form PA-8453 – Pennsylvania Individual Income Tax Declaration for Electronic Filing
  • Schedule D (Form 1040) – Capital Gains and Losses
What is My Residency Status?

There are four groups of people who need to file some sort of tax form in Pennsylvania. Pennsylvania residents, part-year Pennsylvania residents, people who live in Pennsylvania but work in another state, people who live in another state and work in Pennsylvania and people who sold property in Pennsylvania that tax year.

Pennsylvania Residents

Not all Pennsylvania residents are required to file an income tax return using Form PA-40. To find out if you have to file a Pennsylvania resident tax return and all of the information you need to do fill out Form PA-40 correctly, you can download the PA-40 Instructions Booklet above.

Part-Year Residents

Pennsylvania taxes any and all income earned in or out of state if you were a resident as well as on all income earned in Pennsylvania regardless of residency status. Part-year Pennsylvania residents must file a state income tax return using Form PA-40 for any income earned while they were residents of Pennsylvania. You will also need to file any additional forms for the time in which you were not a resident. Refer to page 15 of the Pennsylvania Personal Income Tax Guide, which you can download above, for help on filing a part-year resident return. There is a whole section dedicated to nonresident tax returns.

Pennsylvania Residents Who Work Out of State

Pennsylvania residents working in any state are still required to file an income tax return with Pennsylvania and the state in which they work. If you want to make sure you don’t get taxed twice (dual taxation), you will need to fill out Schedule G and file it with your Pennsylvania resident state income tax return (Form PA-40) and you will be credited for any taxes paid to other states.

Work in Pennsylvania, Live Out of State

If you do not live in Pennsylvania, but you work there, you will be required to file a tax return for any income earned in Pennsylvania. Pennsylvania considers wages and salaries from employment as taxable income. To file taxes on income earned in Pennsylvania, fill out Schedule C. For more information on how to file as a nonresident and how to fill out a Schedule C, see the Pennsylvania Personal Income Tax Guide which you can download above.

Any nonresidents who sold property in Pennsylvania are required to file taxes on any income they earned from that sale. To file a return on income from the sale of property, fill out a Schedule D. For more information see the Pennsylvania Personal Income Tax Guide which you can download above.


HOME Income Limits – HUD Exchange, income from home.#Income #from #home

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HOME Income Limits

HOME Income Limits data are available from FY 1998 to the present.

The HOME Income Limits are calculated using the same methodology that HUD uses for calculating the income limits for the Section 8 program, in accordance with Section 3(b)(2) of the U.S. Housing Act of 1937, as amended. These limits are based on HUD estimates of median family income, with adjustments based on family size. The Department’s methodology for calculating nationwide median family income figures is described in Notice PDR-2001-01. For more information about how HUD calculates the HOME Program income limits, visit HUDUSER.ORG, the website for HUD’s Office of Policy Development and Research, for more general information.

Family sizes in excess of 8 persons are calculated by adding 8% of the four-person income limit for each additional family member. That is, a 9-person limit should be 140% of the 4-person limit, the 10-person limit should be 148%.

The HOME income limit values for large households (9-12 persons) must be rounded to the nearest $50. Therefore, all values from 1 to 24 are rounded down to 0, and all values from 25 to 49 are rounded up to 50.

On January 27, 2009, HUD s Office of Public and Indian Housing (PIH) issued a Part 5 final rule on Refinement of Income and Rent Determination Requirements in Public and Assisted Housing Programs. Effective March 30, 2009, this rule makes conforming changes to the HOME regulations at 24 CFR 92.203(d)(1) Income Determinations to ensure consistency among HUD programs. The rule changes the way that PJs calculate annual income for the HOME program, although the practical effect of this change is minimal.

Related Information

To view additional related information, including Area Definitions, Uncapped 80% of Median Calculations, and Memos, select a specific year from the filter below.

HOME Income Limits

Please note that the CPD Income Calculator has not been updated for the 2017 income limits. A listserv message will be sent out once the 2017 income limits have been updated in the calculator. Please make sure you receive HUD Exchange Mailing List messages for the HOME program.

HOME Income Limits are listed below. Browse the income limits by selecting the next page or use the filters on the left to find specific income limits for the current or previous years.

Note: The 2017 Income Limits are effective on June 15, 2017.


Xpress Income Tax – Located in Cathedral City, Serving the Coachella Valley – The Greater

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Xpress Income Tax is family owned and operated, and is centrally located within the Greater Palm Springs area, serving the entire Coachella Valley. We pride ourselves on offering efficient top-level service and responsiveness with over 20 years of tax professional experience. We are dedicated to staying up-to-date and knowledgeable on all current tax rules and regulations to protect you, and to build and maintain trust.

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  • IRS Tax Day 2017 for Tax Year 2016- Return Filing Deadlines, federal income tax extension.#Federal

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    Tax Day 2018: Due Dates and Filing Deadlines for 2017 Tax Returns

    Tax Win By Tax Day 2018

    Federal income tax extension What is Your W-4-Based Tax Strategy?

    Year-End Tax Deduction and Tax Credit Planning Tips

    2017 Tax Year Refund Estimator

    2017 Tax Return Deadlines

    April 17 * , 2018

    Tax Day for Tax Year 2017 – Filing deadline and due date for Federal Income Tax Returns. Prepare and efile your 2017 tax return from early January-October 15, 2018 on efile.com. Start Your Federal Tax Return

    April 17 * , 2018

    Last day to efile a 2017 Federal Income Tax Return for Tax Extension filers. Prepare and efile your 2017 tax return from early January-October 15, 2018 on efile.com.

    Why is Tax Day April 17?

    The regular tax return filing deadline is April 15. However, due to April 15 being on a Sunday and the Washington D.C. Emancipation Day holiday being observed on April 16 instead of April 15, 2018, Tax Day is on the following Tuesday.

    When Can I File My Previous Year or Late Federal Tax Return?

    There is no IRS deadline for overdue previous year tax returns, but in order to claim a tax refund for a certain year, you must file a tax return for that year within 3 years of the original due date. If you wait longer than 3 years, any tax refund is forfeit.

    On the other hand, past due taxes do not disappear. If you owe taxes for a previous tax year, the IRS may charge you late filing and late payment penalties plus interest on taxes owed.

    After April 17, 2018, you can still prepare and efile a 2017 tax return on efile.com until October 15, 2018 (after that date, the IRS will no longer accept 2017 returns electronically, and you will need to paper file your 2017 return).

    If you owe taxes and you file or efile late without getting a tax extension, the IRS will generally charge penalties based on the amount you owe. There are also penalties for paying your taxes late, even if you got an extension. However, the late filing penalties are more severe, so you should try to file on time even if you owe taxes and can t pay.

    If you owe taxes and are already late, you should file a tax return immediately and explore your options to pay tax.

    If you expect a tax refund and you file late, there is no real penalty other than the effective delay of your refund.

    When Should I File My Amended Tax Return (Tax Amendment)?

    If an amended return results in you owing tax, there is no deadline for the tax amendment. However, if you re expecting a refund, you must file your return within 3 years of the original tax return deadline in order to claim your refund.

    Tax Tip: Submit your 2017 Tax Return by April 17, 2018 to avoid penalties and interest!

    How Do I Prepare and File My Federal Tax Return?

    Preparing a federal tax return on efile.com is fast and easy. And if you have a simple return, it can even be free! If your return is more complicated, you still get our Lowest Price Guarantee and 5 Pricing Advantages.

    Electronic filing is the safest way to file a tax return, and the fastest way to get your tax refund. And efile.com is the best way to get your biggest tax refund possible. Create a free account and get started on your tax return by clicking the button below, or compare online tax services first.

    Seventy-two (72) hours after your tax return is accepted by the IRS, you can track your tax refund.

    How Do I Prepare and File My State Tax Return?

    On efile.com, you can prepare state tax returns when you prepare your federal tax return. You can then efile your state return(s) together with your federal return or separately.

    Unlike other online tax services, efile.com allows you to prepare as many state returns as you need to for one low price.

    If you already filed federal and you only need to file state returns, you can do that on efile.com, too. Get started by clicking the button below, or find out how to file only state returns.

    After your state return is accepted by your state, you can track your state tax refund.

    How Should I File an Amended Tax Return?

    You can prepare an amended tax return for the current tax year on efile.com. The IRS does not accept amendments electronically, so you can print your completed amendment from your efile.com account and then mail it to the IRS. Learn more about preparing and filing a tax amendment.

    Remember, if you amend a federal tax return, this might also affect your state tax return for that year. Please see the website of your state tax agency for information about how they handle tax amendments.

    How Do I File a Previous Year Tax Return?

    Electronic filing is no longer available for Tax Years 2016 and earlier. Download, complete, print out, sign, and mail the tax forms to the IRS for the appropriate Tax Year:

    Start Your Tax Return

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    Pennsylvania State Taxes – Guide and Reference, pa income tax.#Pa #income #tax

    by ,

    Pennsylvania State Taxes

    Pa income tax

    Pa income tax

    Pennsylvania state taxes extend from the usual income taxes, sales taxes, and real and personal property taxes to an inheritance tax and even an obsolete estate tax. The state throws in a few other little taxes as well, depending on exactly what you purchase there.

    Property Taxes

    Technically, the state of Pennsylvania does not collect real and personal property taxes, but its counties, municipalities, and school districts do.

    Real property value is determined by the county assessor and tax bills are calculated using millage rates — one mill is equal to 1/10 of one cent, or $0.001. You ll pay $1 in tax for every $1,000 of assessed property value at a rate of one mill. Each locality has its own millage rate, but rates cannot exceed 30 mills or $30 per $1,000 of assessed value without special court permission.

    Property Tax/Rent Rebate

    Pennsylvania s property tax/rent rebate program offers rebates for property taxes already paid either by homeowners or renters who qualify:

    • You or your spouse must be 65 years or older to qualify.
    • A widow or widower qualifies at age 50 or older.
    • Those age 18 and older qualify if they are permanently disabled.
    • A qualifying homeowner s annual income cannot exceed $35,000, and this includes half of his Social Security income.
    • Renters cannot earn more than $15,000 annually and the same Social Security rule applies.

    Special rules were set in place in 2015 to prevent some homeowners and renters from being disqualified on the basis of income due to Social Security cost-of-living adjustments. You may still qualify if your annual income is as much as $36,663 for homeowners or $15,713 for renters, including half your Social Security income, if you previously received a property tax rebate.

    The state encourages you to apply to find out – the worst that can happen is that your claim will be denied.

    The maximum rebate is $650 as of 2016, down to $250 for those with higher incomes. Some homeowners can receive supplemental rebates increasing the total to $975. File Form PA-1000 by June 30.

    State Income Taxes

    Pennsylvania is one of only a few states with a flat tax system. The state assesses a 3.07% tax rate regardless of how much income you earn. Pennsylvania does not allow taxpayers to deduct personal exemptions. A tax forgiveness credit is available to low income filers.

    Estate and Inheritance Taxes

    Although Pennsylvania does have an estate tax on its books, it s no longer enforced. An estate tax would typically be levied on the overall value of a decedent s estate.

    The state does impose an inheritance tax on individual bequests made to beneficiaries, payable by the beneficiary. Surviving spouses and surviving parents inheriting from a minor age 21 or younger are exempt. The tax ranges from 4.5 percent on gifts to direct descendants to 12 percent for siblings and 15 percent for all other beneficiaries except some charitable, government and political organizations.