Energy Resources in Willingboro, New Jersey is worthy of a shout out!  A few weeks ago, I bought a new outdoor grill there, which is my second one from there over the years.After 3 seasons of cooking on a Weber charcoal grill, I grew very tired of it and upgraded to a much larger Weber propane grill.  I love it. Great service, reasonable prices, friendly staff and a cute dog (behind the counter) make this place my grilling destination.They also have a plethora of long-handled grilling tools, and of course, extra propane tanks so you'll never run of of cooking fuel at inopportune times.Located on Rte. 130 North in Willingboro near Delran, this place has so very many grills to choose from, more than I have ever seen in one location. https://michaelelliott.fathomrealty.com/  06/19/2024

I love recommending great experiences and businesses to my friends and clients.Last year, I hired Stanley Steemer to clean my ceramic tile and grout, which had become badly discolored over the years.  They did a spectacular job at a true fraction of the cost that a tile expert / installer had quoted.  They saved me over $1,000 and brought the tile back to new-looking.The other contractor had taken a deposit from me, then kept delaying the job, refusing to commit to a start date.  I cancelled and got my deposit back, and so glad I did, and I have since had SS back to do all the carpets in my house.They were also professional, on time and friendly. And they didn't let my cats out!https://michaelelliott.fathomrealty.com/  06/18/2024

Live in Mount Laurel, NJ? Here is a quick story about IRS Tax LienWhat Happens When You Don't Pay Your Taxes to the IRSImagine you have a piggy bank where you keep all your treasures. But one day, you forgot to share some of your treasures with a friend, like you promised. That friend is like the IRS, which is a group that collects money for the government. When you don't share your treasures (or pay your taxes), the IRS says, "Okay, until you share like you promised, I'm going to put a sticker on your piggy bank. This sticker tells everyone that I get to take some of your treasures first."This sticker is called a tax lien. It means if you try to buy something big, like a bike, with the treasures from your piggy bank, the IRS gets to take some of those treasures first. It also means tha... 02/21/2024

An IRS penalty is a financial charge imposed by the IRS on taxpayers who fail to comply with tax laws, including not filing tax returns on time, failing to pay taxes owed by the due date, or making errors on their tax returns. These penalties are designed to encourage compliance and timely filing and payment of taxes.Late Filing Penalty: If you don't file your tax return by the due date (including extensions), the IRS can charge a late filing penalty. This penalty is usually 5% of the unpaid taxes for each month or part of a month that a tax return is late, up to a maximum of 25%. Late Payment Penalty: If you don’t pay the taxes you owe by the due date, the IRS charges a late payment penalty. The penalty is generally 0.5% of your unpaid taxes for each month or part of a month after the ... 02/19/2024

What is IRS Notice CP 90?In Mount Laurel, NJ the IRS Notice CP 90 is a final notice of intent to levy your assets due to unpaid taxes. This critical communication means the IRS is prepared to take serious action, including garnishing wages, seizing bank accounts, or even affecting your passport status. But, there's a beacon of hope if you act promptly and judiciously.What should you do when you receive IRS Notice CP 90?You should review the IRS notice. It specifies the tax period and amount owed, offering a crucial window for action. Ignoring the IRS notice CP90 can lead to immediate and severe repercussions, so immediate attention is key.What's Next?The pathway forward involves several steps: If possible, settle the debt in full. If not, consider arranging a payment plan or disputing t... 02/15/2024

Just filed my income tax return, now I am receiving CP14 from the IRS. What do I do now?When you receive an IRS Notice CP14, it means the IRS is informing you that you have unpaid taxes for a specific tax year you have filed. This notice is essentially the first notice you might receive about unpaid taxes and it outlines how much you owe, including any penalties and interest accrued up to the date of the notice. It's a prompt from the IRS for you to either pay the amount due or to contact them to make arrangements if you disagree with the amount or can't pay it in full.Here’s what you should do upon receiving a CP14 notice: Review the Notice Carefully: Check the details of what tax year the debt is for and how the amount due was calculated. Make sure it aligns with your records. Because... 02/07/2024

What is IRS notice CP501 and what should you do when you receive it?After filing your income tax return and there is a balance due, the IRS sends the CP501 notice as an initial step in their process of collecting unpaid taxes. It's essentially a reminder for taxpayers who have a balance due on their federal taxes. The purpose of this notice is to inform you of the amount owed, including any penalties and interest that have accrued since you filled. It's the IRS's way of saying, "Hey, you have an outstanding balance, and it's time to address it."Now, if a taxpayer does not respond to the CP501 notice, the situation can escalate. A taxpayer should do everything except ignore this notice. Ignoring this notice is not advisable as the IRS will continue with their collection process. If there... 02/05/2024

In Mount Laurel, NJ dealing with the IRS collection process can be frightening, but understanding it is crucial to resolving back tax debts effectively.Notice of Back Tax Debt: The process begins when the IRS sends a notice, detailing your tax debt and demanding payment from you. This is your cue to either pay the amount or explore other options if you're unable to pay in full.The clock is ticking: It's imperative to respond promptly. Ignoring the notice from the IRS can lead to added penalties and interest, increase your back tax debt.Keep in mind the IRS Payment Options: The IRS offers various payment arrangements. These include installment agreements, where you pay over time, and Offer in Compromise, which lets you settle for less than the full amount if you meet certain conditions.C... 01/25/2024

Business owners in Mount Laurel, NJ! Managing a business is tough, especially when it comes to dealing with IRS taxes. Not following the IRS rules can lead to big fines, penalties, and even legal trouble. You definitely don't want your business to get into hot water for not filing taxes. Here are some key steps to make sure you stay on the right side of IRS rules: Find Out Which Tax Forms You Need: Depending on your business type and industry, there are different tax forms to file. Check out the IRS website to figure out which ones you need. If you're unsure, it's a good idea to ask a tax expert. Keep Your Financial Records Accurate: This means saving all your receipts, invoices, canceled checks, and bank statements for at least 3 years. Also, keep copies of your tax returns and any sch... 01/17/2024

Today, we're going to explore the world of taxes. It might sound complicated, but it's actually quite interesting. We're going to learn about two types of taxes: Payroll Tax and Income Tax. Let's break it down into simple terms.What is Payroll Tax?Imagine you have a piggy bank where you save money from doing chores. If that piggy bank was like your paycheck, payroll tax would be a small part taken out of it before you even get it. This money goes to important things like healthcare for older people. It's like sharing a bit of what you have to help others.What is Income Tax?Now, let's talk about income tax. This is like when you count all your birthday money. The more money you have, the more you share as tax. If you have less, you share a smaller amount. This tax changes based on how mu... 01/15/2024

Imagine opening your mailbox to find a notice from the IRS, declaring a lien on your assets. That's an IRS statutory lien, and it's something every taxpayer should be aware of.The Lifecycle of an IRS Lien: From Assessment to ResolutionAn IRS statutory lien is not a piece of paper but a legal claim against your property. It kicks in the moment you fail to pay your tax debt post the IRS's Notice and Demand for Payment. What does it cover? Practically everything: your house, car, bank accounts, and even future assets acquired while the lien is in place.Proactive Measures to Avoid the Impact of an IRS Lien on Your Credit and AssetsSo, how do you protect yourself? First, take any IRS notice seriously. If you can't pay in full, don't panic. There are options like installment agreements or an ... 01/08/2024

If you live in Medford or Medford Lakes and are ready to sell your home, hiring the right Agent the 1st time is key!  By using a strong, experienced agent like Janet Larsen, you may end up getting multiple offers and selling you home for far more then you ever expected!  It is a challenging market, however, rates are starting to drop which is essential in understanding why you need KNOWLEDGE!  If you are ready to sell your home, call Janet Larsen for an in home Market Analysis and discount commission programs.  Email:  njrealtorjan@gmail.com 11/16/2023

Are you a business owner or entrepreneur based in Mount Laurel, NJ? Well, congratulations on your success! However, with the success of your business comes the responsibility of filing your payroll taxes on time. Filing taxes can seem like a daunting task, especially if you're new in the business world.Step 1: Gather Your DocumentsBefore you embark on your payroll tax filing journey, make sure you have all the necessary documents in hand. These include employee timesheets, wage information, employee benefits information, and tax deductions. Failure to have the appropriate documentation can make the process more arduous.Step 2: Calculate Your Taxable WagesOnce you have all the relevant documentation, you can proceed to calculate your taxable wages. This refers to money paid to an employe... 08/30/2023

Running a business can be challenging and stressful, and one of the most critical aspects of managing a business is payroll. If you're a business owner or administrator in Mount Laurel, NJ, you know how important it is to make sure your employees are paid on time every pay period. That's where a payroll service can come in handy. 1. Compliance with Payroll LawsLocal, state, and federal laws surrounding payroll can be complicated, and it can be a challenge to keep up with changes, deadlines, and various forms. As a business owner, you could struggle to keep track of all these laws while running your business operations at the same time. A payroll service in Mount Laurel can help alleviate this concern. They are experts in payroll laws, and they stay up to date with all changes. This allo... 08/28/2023

If you run a business, you know how critical it is to stay on top of your payroll. Unfortunately, with the never-ending requirements, it can be challenging for small business owners to stay current on payroll regulations while keeping their business running smoothly. It can be not only time-consuming but also financially crippling. Suppose you're not outsourcing your payroll. In that case, you could be spending countless hours on managing your payroll accounting while risking compliance mistakes, penalties, and fines. 1. The Burdens of In-House PayrollOne of the primary reasons to outsource your payroll is to reduce the burden of in-house payroll. Running payroll accounting requires keeping track of time and attendance, deductions, benefits, taxes, and compliance. Even the slightest mis... 08/24/2023

Are you confused about the difference between payroll tax and income tax? As someone who has never filed taxes before, it can be overwhelming to stay on top of all the tax terms that get thrown around in the media and by the government. But understanding the differences between payroll tax and income tax is essential to ensuring you're not paying more than you owe.Payroll tax is a tax that your employer withholds from your paycheck to fund social security and Medicare programs. Depending on how much you earn, the percentage of your paycheck that goes towards payroll tax can vary from 6.2% to 7.65%. This tax is separate from your income tax, which is determined based on how much you earn in total throughout the year.Income tax is a tax on your total income, including earnings from your j... 08/22/2023

As a business owner, it is essential to keep your payroll taxes in check to avoid any legal repercussions such as fines, penalties, and even jail time. In Mount Laurel, NJ, especially, payroll tax compliance is crucial, considering the many legal implications of defaulting tax obligations. Types of Payroll Tax Penalties in Mount Laurel, NJ1. Late Deposit Penalties: According to the IRS, employers should deposit payroll taxes on time during every pay cycle. If you fail to deposit your taxes on time, you may face a late deposit penalty that can escalate with time.2. Late Filing Penalties: The IRS requires employers to file their payroll tax returns on time. Late filing may result in a penalty of up to 25% of the total amount owed.3. Failure to Pay Penalty: If you fail to pay your payroll ... 08/16/2023

If you own a business in Mount Laurel, NJ, then you know how hard it can be to keep up with all the necessary tax filings and payments that the IRS requires. Non-compliance could lead to hefty fines, penalties, and even legal action. The last thing you want is to be classified as a non-filer business. So, to ensure your business stays compliant with the IRS regulations, read on.1. Know what tax forms your business needs to file.There are many different tax forms that your business may need to file depending on your business structure and industry. You can use the IRS website to determine which tax forms your business needs to file. Be sure to consult with a tax professional if you are unsure which tax forms to file or have any questions.2. Keep accurate books and records.Keeping accurat... 08/09/2023

Paying taxes can be a challenging task, especially when it comes to filing payroll taxes. Making mistakes can cost you a lot, including hefty penalties and unnecessary stress. If you are a business owner in Mount Laurel, NJ filing payroll taxes for the first time or simply want to avoid committing mistakes.Top 5 Common Mistakes in Filing Payroll Taxes that you must avoid at all costs.1. Misclassifying Employees: One common mistake is classifying employees as independent contractors. It may seem like a cost-saving option, but it could lead to penalties, further costs, and liability issues. Make sure you classify your employees and contractors correctly to avoid costly legal problems.2. Late Filing and Payment: Filing payroll taxes late or missing deadlines can lead to severe penalties. M... 08/07/2023

Payroll taxes are an inevitable expense for any business. However, many businesses fail to plan and budget for them appropriately, which can lead to significant problems down the line. With the end of the year drawing closer, it's time to start thinking about how you can plan for your payroll taxes in the coming year. 1. Understand Your Tax Obligations The first step in planning for your payroll taxes is to understand your obligations. This includes knowing how much to withhold from your employees' paychecks and how much you, as the employer, need to pay in taxes. You'll need to review the IRS guidelines to ensure that you're calculating these amounts correctly.2. Create a Payroll Tax Budget Once you understand your tax obligations, you'll need to create a budget for your payroll taxes.... 07/31/2023