Monday, February 27, 2017

Tackling Professional Paperwork

tax filing work
There are some things that we love doing such as playing with our kids, walking the dog on a lovely spring day and treating ourselves to a well-earned holiday. Then there are tasks that we prefer to put off doing such as mowing the lawn, ironing piles of laundry and sitting down at the kitchen table to fill in yearly tax returns.

Writing A Will

While we don’t like to think about how our family would cope if the worst happened writing your will doesn’t need to be a morbid task. Most adults over the age of 21 should have a basic will that indicates their final wishes such as any funeral requests, personal bequests and who they’d like to assume control over any outstanding affairs. A will can also help to snuff out any legal disputes before they’ve risen their ugly heads, as well as ensuring that your spouse, children or pets are cared for once you’re gone. Writing a will also means your family avoiding a hefty inheritance tax bill as well as being able to ease the pain of having to make difficult financial decisions at an emotional time.

Personal Injury Claim

You’re walking back to the office having made yourself a coffee when all of a sudden you feel yourself falling on the wet floor. Despite a clear ceiling leak no one’s bothered to call a builder or even put up a wet floor sign. A trip to the ER reveals second-degree burns, a broken leg and a severely sprained wrist all of which require immediate medical attention. While you may already possess health insurance, not all firms payout on workplace accidents which is why you'll often do better consulting a personal injury services specialist who’ll be able to advise if you have a claim or not. Corporations have a duty of care towards their employees, and if your injury lawyer can show evidence of negligence, then you may be entitled to a substantial amount of compensation. Your attorney can also assist with your impact statement, a letter that details how your life has changed since the accident occurred.

Filling Out Your Taxes

There’s a common saying which you may have heard that states there’s only two things you can be certain of in this life and that’s death and taxes! However, it isn’t as painful as people like to make out and if you’ve got the right information to hand it’s a relatively straightforward process. Firstly, you’ll need a pad of paper, pen and calculator to work out any sums as well as your laptop to check anything legal as well as your previous tax return. It’s also worth having your blank Form 1040 beside you to look through the sections before starting. Remember it needs to have been sent off by 15th April, unless it’s a weekend otherwise you could incur a late payment fine. To fill out the form you need to have identification i.e. Driver's license or passport to hand, your residency status and all occupants social security details, any wage statements and bank correspondence plus your bank details.

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