Neil White
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The 2022 tax season will provide additional complexity, such as new tax deductions and credits, which may make this year's taxes both more difficult and profitable.
Reconciling child tax credit and stimulus payments, accounting for investment and gig income, and submitting proper taxes are all huge challenges this year. The best general recommendation is to: To prevent a backlog of paper returns at the IRS, submit electronically and seek assistance if necessary.
Here are some additional tax ideas for 2022 to assist you in filing your return this year.
1. Get a Head Start to Avoid Delays
According to the IRS, this year's filing season may be particularly challenging, with IRS personnel working tirelessly to answer inquiries regarding new and possibly perplexing filing rules. Your reimbursement will almost probably be delayed if your return is marked for review. What makes a difference?
If your tax return is straightforward (a single W-2 with standardized deductions), file it early and electronically. Set up direct deposit with the IRS to avoid any postal delays.
If your tax return is more complicated, gather your information and get advice as soon as possible. The sooner you begin, the more time you'll have to seek down missing data, reconcile disputes, or locate a skilled tax specialist.
2. Submit a Correct Return
An IRS audit is frequently triggered by inaccuracies. The IRS compares information on your tax return to W-2 forms from your company, 1099s from customers, banks, or investment firms, and payment data from the government. If your tax return differs from what the IRS has on file, it might be subjected to a manual review, which could result in a full-fledged audit and a delay in receiving your refund.
3. Make preparations for an extension, if you're in need of one
If you are unable to gather your tax information before the April 18 deadline, you can submit an extension to stretch your due to October 17. But don't put off paying your taxes: If you want to avoid fines and interest, the IRS expects you to provide a good faith estimate. This year, keep in mind all IRS deadlines, including anticipated tax payments for 2022.
4. Make a claim for child tax credits
For the 2021 tax year, parents may be eligible for child tax credits ranging from $3,000 to $3,600 per kid. You may have already received half of your potential credits as advance child tax credit payments between July and December if you qualify.
Double-check your work for correctness. If your numbers don't match the IRS's records, your return will be flagged. IRS Letter 6419, which specifies how much filers have received in advance child tax credit payments, can be used to double-check your calculations. If you can't find your IRS letter, utilize your tax transcript to double-check the number of your economic impact payments.
5. Investments from other countries
If you are an Australian resident who owns assets in another country, you must report any capital gains or losses on such assets in your tax return. You may also have to report income from foreign investments on your tax return.
Even if your money is housed in a foreign bank account for you, you can get it. You may be eligible for an Australian foreign income tax offset if you obtain overseas income or gains that are taxable in Australia and paid foreign tax on them. For any further information try getting in touch with a tax accountant in Sydney to gain more information on the required tax topic.
6. Reconcile the Recovery Rebate Credit and Stimulus Payments
You should have gotten IRS Letter 6475 detailing your third stimulus payment in 2021 if you received one. You may also look for payment information on your tax transcript. This data can assist you in deciding whether or not to claim the Recovery Rebate Credit on your 2021 tax return. The Recovery Rebate Credit is for taxpayers who have not yet received the entire amount of stimulus payments owed to them in the prior three rounds of stimulus payments—an uncommon occurrence at this stage.
7. Don't Forget About the 2021 Charitable Deduction
If you use the standard deduction instead of itemizing, you won't be able to deduct charitable contributions. Even if you don't itemize, you can claim up to $300 in gifts ($600 for married couples filing jointly) for the 2021 tax year. Gifts must be paid to a qualified charity, and the deduction is only available for cash donations and non-reimbursable volunteer expenditures.
If you make a qualifying gift of that level, you can deduct up to 100 percent of your adjusted gross income in 2021 only.
8. Don't Forget About Unemployment Compensation
Benefits received in 2021, unlike those obtained in 2020, are taxable, so don't forget to record them on your tax return. You may owe more tax if taxes were not deducted from your benefit payments.
9. Take a look at how much money you're making through side hustles
You must record and pay taxes on income generated in the gig economy, such as driving for a delivery app, renting out a parking space, or conducting doggie daycare at home. You may need to submit Schedule C: Profit or Loss from Business, depending on whether you worked as an employee or a contractor.
The good news is that if you're self-employed, you might be able to deduct some of your automobile or home office expenditures. The bad news is that business taxes are more difficult. Visit the IRS's Gig Economy Tax Center for further information.
10. Report Investment Profits, Including Cryptocurrency Profits
Capital gains taxes aren't calculated on the value of your investments; rather, they're calculated on the profits you make when you sell an investment for more than you bought for it.
You owe nothing if you didn't sell anything in 2021. If you profited from the sale of stocks, mutual funds, real estate, cryptocurrencies, or another investment, you must record the gain (or loss) on your tax return and pay any capital gains taxes due.
Because calling the IRS hotline may be difficult this year, the IRS provides online tools that may be useful in answering your inquiries. Their guide to getting a head start on your 2021 taxes includes information on how to prepare and track your return, as well as electronic filing choices for people and resources for e-filing your return, which is the quickest way to a refund this year.
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Neil White
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There is a huge difference between being a single parent and being single and a parent. You see, if your former partner actively participates in your child’s life, provides you with necessary support and is there for them when they need them, you can still be in an advantageous position. However, even if they’re giving it their best, it will still be a bit more difficult running a household with this type of limited support.
Then again, there are scenarios where your former partner is not as committed as they should be. In that case, it falls to you to provide your kid with all the parental guidance they need. Sure, it’s better to have one good parent than two lousy ones but this doesn’t mean that such a thing is easy to pull off. After all, you are doing a two-person job on your own.
With that in mind and without further ado, here are several tips to help you raise a child on your own. Here are several tips on how you can make it as a single parent.
1. Always have time for them
The biggest challenge when you’re a single parent is finding enough time for… well, anything. Now, even though you won’t be able to do everything, you need to get your priorities straight. Your child is always your No.1 priority.
Take some time to talk to them every day. We’re not talking about the regular discourse of you responding to their feedback (that they’re hungry, thirsty, want to go to the bathroom, want to go outside, etc.), we’re talking about actual conversation. Try to see what’s bothering them and ask them if they have any questions.
Remember that even if you’re a working single parent, it’s incredibly important that you keep in mind that it’s the quality of time that counts. Set aside time every single day. While you’re with them, don’t check your emails, don’t multitask and don’t think about anything else. Kids can tell these things and this will make them feel less valuable in your eyes.
2. Look for some help
Just because you’re a single parent, this doesn’t mean that you can or should do it all on your own. You will probably have to find someone to take care of the kids while you’re working, which is no easy task. Your closest family members are away and finding a reliable babysitter is far from easy. Even by paying attention and having the strictest of vetting processes, you can’t be 100% sure that you’ve made the right choice.
The safest solution is for you to start an online search by typing –a childcare centre near me. However, this is not the end of your journey. What you need to do is check the options, credentials and reputation that this centre has. Keep in mind that you’re doing your very best in order to provide your child with the childhood they deserve. This is why you need to make sure that even this “downtime†(in terms of your time together) is as good as possible.
In these institutions, your kids will socialize with others, develop new skills and adapt to a new type of (communal) lifestyle. It goes without saying that this will help them develop skills to benefit them throughout life.
3. Help make them self-reliant
Another thing you need to keep in mind is the fact that you need to teach them to be self-reliant. There are three reasons why parents do things for their children that the children can do on their own. These are:
• It’s quicker for the parent to do it.
• It’s safer for a parent to do it.
• The parent enjoys doing it.
While all three have some sense, the thing is that you need to think about the long-term benefits and consequences of taking away responsibilities from your child. The first thing is selfish, seeing as how you value your time more than your personal development. The second one is irrational, seeing as how the worst consequence is usually a minor scratch or bruise. The last one is understandable but, from the long-term perspective, you need to put the well-being of your kid ahead of your own desires.
4. Bring them on board
Make sure that your kid feels like a full-fledged partner. Give them some chores, not because you want them to do something but in order to help you out. This will teach them to carry their own weight in any relationship. It is something that their future partners and roommates will be grateful for. Also, this is a great way to teach them the value of money. It’s not just about the price – it’s about whether they’ve earned something or not.
Just remember that you need to choose the right measure. These tasks shouldn’t feel too difficult so that they’re not interpreted as a punishment. At the same time, they shouldn’t be too simple. This way, they won’t seem like real responsibilities. It is important that they understand what is necessary.
Also, bear in mind that you will have so much on the plate that even a minor task makes all the difference. Sure, you want to shield them from some of the responsibilities of the adult world but covering them too much can backfire horribly (as we’ve discussed in the previous segment).
5. Tell them no
Parents are incredibly subjective when their children are in question, especially if they’re single parents. This leads to all sorts of scenarios where kids try to abuse the situation and guilt-trip you into acting the way they want you to act. What you need to do in these scenarios is learn how to tell them no. This is the most important aspect of their self-development. Your kid needs to learn that they can’t get everything they want just because they want it. This will prepare them for life.
This is the best way to avoid raising your child to be entitled or spoiled. Life is full of rejections and being good at life is about getting to terms with rejections or finding effective ways to overcome them. Just make sure that you never support, endorse or tolerate negative behaviour.
6. Take care of yourself
The very last thing you need to take into consideration is that your kids are learning by example. They are evolutionary conditioned to depend on you for survival. This means that they have heightened senses when it comes to recognizing your emotions. After all, you’re getting 100% of their focus and attention and every change in your physical and mental state might affect them, as well.
This is why, despite the tremendous stress and workload that you’re under, you can’t afford to neglect yourself. Invest as much time and effort as you can towards self-care. This will help you become a better role model for your kids. This will also help you feel better in your own skin and enjoy being a single parent.
In conclusion
Early childhood is more important than you would expect it to be. Children are learning by observing you, analysing and interpreting your feelings. This is why you need to be very careful how you act around them and be extra careful what you say and do when you think they’re not listening. They’re always listening and they are memorizing your every step. This means that trying to fake it won’t work. You need a system and you need to believe in it with all your heart.
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Neil White
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Nowadays it's become utterly vital to keep steady hygiene. Not only because of the potential viruses and pests, but the sheer fact of keeping things neat and clean can revitalize and upgrade our lifestyle. In order to maintain a healthy life balance, it is of utmost importance to keep the home healthy and germ-free. Keeping your home healthy doesn’t only keep any unwanted illnesses or infections far away, but it ensures implementing and acquiring healthy habits. Incorporating good hygiene practices around your home enables you to stay worried and stress-free. Therefore, here are some essential tips on how to keep your home healthy and maintain a mindful and safe home environment.
1. Don’t neglect the dust
It’s everywhere and it’s annoying. The second we open the door or window, it looks like that there’s a whole new layer of dust piling up. To keep this meticulously clean at all times, you should dust all areas at least once a day. It may sound tedious, but as dust can quickly build up around furniture, many allergens that cause fungal skin infections and respiratory issues come up as well. The moment you wipe out the dusty surface, the cleaner the home will look.
2. Maintain kitchen surfaces extra clean
The kitchen is the place where we prepare and eat food, and it's only obvious that it should be extra clean. Do your best to always clean all the surfaces when preparing raw meat, eggs, or if you're about to knead. Many harmful bacteria tend to appear and stay unless you thoroughly wipe everything out. Use a lot of paper towels to wipe up any spills, and once you finish cooking, tackle everything with the appropriate product to clean off all the nasty germs.
3. Opt for a smart bathroom solution
If you truly desire to keep your home healthy, then you might want to consider switching to hand dryers. Using hand dryers instead of ordinary towels or paper tissues will make your bathroom a cleaner and safer place to be in. Classical towels can gather bacteria unless you clean them instantly, and with hand dryers, you get a quiet, effective, and durable cleaning solution that will upscale your home's health. What's more, these high-quality machines are fantastically adjustable and come in various modern designs to fit any interior.
4. Stock up with anti-bacterial hand wash
Ditch the old, silky hand soap, as the bacteria stay longer, plus they can smudge the entire bathroom surface and spread even more bacteria around. Get an anti-bacterial liquid hand wash that is both practical and contact-less. This will ensure that you keep your hands adequately clean, and your washbasin germ-free. You can find a nicely scented hand wash and put it into a dazzling bottle to revive the look of your bathroom as well.
5. Thoroughly wipe off high-touch areas
Hands transmit the most bacteria, so to keep your home maximally healthy, you should clean, wipe and disinfect all the high-touch surfaces. These include doorknobs, door handles, handrails, tables, chairs, taps, light switches, keyboards, remote controls, and your children's toys. Establish a routine of cleaning all of those areas delicately at least once a week, but you can use a mild disinfect product to clean them on a daily basis for additional precaution.
6. Keep the shoes out of the house
Shoes tend to carry and leave numerous nasty things and bacteria. No matter how much you clean them, if you just walk through the carpet with moody boots, you’ll surely leave some pathogens which cause diseases like bacterial meningitis, pneumonia, and even tuberculosis. Therefore, it would be advisable for you and your guests to take off your shoes every time you’re about to step into your home and leave them at the door. Make sure that you clean off any mud or debris outside.
7. Clean (after) your pets
Pets, especially cats and dogs, tend to bring in various potential diseases, and unless you take good care of them, you may end up with some unwanted diseases yourself. Cats and dogs, for instance, can carry harmful bacteria like Salmonella, E Coli, or Campylobacter so you should clean their paws the second they step into your home. Also, wash and clean their fur properly at least once a week, and make sure that you wash your hands afterward, especially after petting them. When it comes to other pets like hamsters, rabbits, or turtles, do your best to regularly clean their cages or terrariums.
8. Focus on bathroom hotspots
Toilet seats, toilet flush handles, handles, taps, showerheads, and light switches represent a red alert to germs, bacteria, and other infections. As your bathroom can transmit various bacteria like Salmonella, Norovirus, and even E coli, it should be your number one cleaning rule to meticulously scrub them. All of those common touchpoints can help to transmit various bacteria faster, so you could use a quality disinfect spray to clean the areas on the go. Do that whenever you're using the bathroom, and advise other family members to do the same.
9. Scrub your bins
Very often we tend to forget to clean the bins. As your kitchen is generally a hot spot for tedious bacteria with food spoilage and spillage, your bin is another culprit for causing your home health to deteriorate. Every time you are about to throw something into your bin make sure that the bag is adequately closed, then wipe off clean any spills and debris that fell out of the bag. Try to et a bin with a closing lid and/or a bin liner that can be tied before throwing the trash into an outside bin. In the end, always wash your hands thoroughly after being in contact with your bin.
10. Change your bed sheets regularly
There's nothing more soothing and relaxing than settling down into your warm and cozy day after a long and bustling day. But what many people fail to recognize is that various stains, dust, and even bugs on the mattress or bedding can cause certain allergies and diseases. To avoid that from happening, and to minimize the potential disease outburst, it's advised to wash and change your bedding every two weeks. Depending on the material and fabric, wash your sheets at a minimum of 40 degrees. Also, don't neglect to wash pillows, duvets, and mattresses every few months as well.
11. Keep your floors shiny
There are not many potential health hazards when it comes to the floor, but that doesn't mean you shouldn't take care of them. Avoid any risks of cat bacteria such as Staphylococcus, which can survive dry conditions, by vacuuming the floors twice a week. Mop the floors thoroughly once a week, if necessary, use a special sanitizing product, just see whether it's suitable for your floor. If you have pets or infants crawling around, you should mop the floors even on a daily basis.
12. Disinfect your cleaning amenities
There's no need to purchase every time a new cleaning mop, cloth, or a sponge, on the contrary, if you strive to keep your home healthy and safe a few bucks while doing so, try microwave them. By microwaving your sponges and other cleaning utilities at high temperatures for about two minutes, you will disinfect them effectively. If you don't fancy this idea, you could soak them in a certain bleach solution for about five minutes to get the same results.
13. Go for fresher laundry
If you desire to have nice and odor-free curtains, table cloths, and pillowcases, the secret is not to add a lot of softeners, but to wash them at 40 degrees Celsius. Your home will always smell fresh and clean if you follow the precise washing labels and if you air dries them slowly. Only avoid air-drying within the house, as they pill up dust particles and moisture which could be harmful to the health.
14. Don’t forget the windows
Windows are the heart and soul of the house, so they should be kept clean at all times. Windows and door tracks tend to accumulate dirt, dust, and even dead bugs, so they could make you more susceptible to respiratory diseases and other illnesses unless you keep them clean. Wash them with mild sanitizing products, and always dry them thoroughly with a suitable dry cloth.
15. Carpet hygiene
Your house will look more beautiful, cleaner, and fresher if you wash and clean the carpets and rugs every three months. Carpets, unlike floors, gather germs longer, and if you don't take care of them regularly they would be a perfect breeding ground for many diseases. If you don't have time and money to take them to professionals, you can take the carpet out on the terrace and garden and just powerfully shake it to remove all the dust and debris, mop it with soap and vacuum it before placing it back inside.
Maintaining a house spotless and healthy is a never-ending task. Perform all the above-mentioned hacks and you will ensure your home stays perfectly clean and welcoming.
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Neil White
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Video conferencing has become very popular these days. Tons of business owners have decided to switch to this form of meetings due to its efficiency and many advantages. Amongst many others, these are some of the best reasons why you should consider doing video conferencing in your business from now on.
Improves communication
One of the first and most important advantages of videoconferencing is the fact that it improves communication amongst employees. People are visual beings and as such, we process visual information a lot faster and in a more efficient way than information that is served via audio or text. So far, around 62% of executives have claimed that videoconferencing has managed to improve the communication in their company exactly due to this reason.
No matter what kind of business you lead, communication is the key to success. Whether you are an already established company that has been running their business for years, or you are just starting out, working on your communication is very important if you want to achieve and maintain the success of your business. On top of that, the current COVID-19 situation is making it really complicated to hold effective meetings and conferences in person, so video conferencing is a perfect option for maintaining contact and communication amongst your employees. You can use video conferencing to hold weekly meetings, monthly meetings, or even quick last-minute meetings when you need to inform your employees about certain changes at work.
Helps build relationships
Nothing can replace face-to-face meetings. This is where people get to know each other and create personal connections. You get to see people’s facial expressions, read their body language and hear them talk in person. However, what happens when people have to constantly travel to attend those meetings? There are certain meetings that are worth travelling for, but if it needs to be done repeatedly there are more disadvantages than advantages.
Here is where video conferencing is very useful. Not only does it allow you to hold meetings with your employees whenever you need to, but it is actually a great replacement for in-person meetings. During the COVID-19 lockdown, this replacement has been proven to be very effective in recreating the best possible face-to-face meetings many companies have had in a while. Video conferencing can help bridge the gap for the regular meetings you need to hold with your employees in order to keep the company running smoothly all while maintaining great communication. Plus, video conferencing creates a great personal connection amongst workers. Technology has improved so much over the past decades and now we are able to hold meetings with tons of people online and have things run as smoothly as ever.
Saves money
Believe it or not, incorporating video conferencing in your business can actually save you a lot of money. Video conferencing can offer a very effective replacement for face-to-face meetings while lowering the expenses for travelling. Not only do you not have to pay for the constant travelling of your employee just so they could attend your meetings, but your options expand as well. Think about how many creative and talented people from all around the world you can hire and work with without any limits. You can work with people from many different cultural backgrounds that can bring new and fresh ideas into the company. You can make great connections all around the world simply because the technology allows you to work and partner with just about anyone from anywhere in the world. The options are endless and they are all at the palm of your hand. Use this opportunity wisely.
Saves time
Another great advantage of video conferencing is that it saves you a lot of time too. First of all, when you cut the time your employees waste on travelling to get to the meeting, you already saved some time. They can just log in from the comfort of their home office and be in the meeting within seconds. This can also allow you to hold meetings more frequently and gather your employees last minute if it is urgent. If you think about it, no matter where you are you can always hold meetings without any limitations. All you need is a good working Wi-Fi and any device that can allow you to log in to your platform. It can be your laptop, tablet, phone, or computer. It is simple as that.
Streamlines collaboration
There are tons of apps that allow you to use features like chats, file sharing and video calling for free. Apps such as Microsoft Teams, Google Meet, Skype, Zoom, and others are all great platforms where you can stay in touch with your employees and hold meetings. Not only can you chat and send files but you can also make appointments for the video calls. In addition to that, there are extra helpful features there such as screen sharing that allows you to share your screen with all of the participants in the video call. That way, you can easily present a new project or a task you are working on.
Improves efficiency
By using all of these effective features such as screen sharing, real-time collaboration, chatting, video calling, you are essentially improving the efficiency of your meetings. Everything is easily done with just a few clicks, everyone can attend the meeting no matter where they are, and you are all able to hear and see each other through your screens no matter what device you use. You save money and time and you can hold meetings even more frequently than usual. All of this contributes to the improvement of the efficiency of your meetings.
Increases productivity
By using video conferencing, you are making it easy for people to collaborate on documents they are working on in real-time. You don’t need to bother with connecting more than two email chains. You don’t have to struggle to look for lost emails. This can create confusion and waste your precious time which as a result can negatively impact your team’s productivity. It’s all simple and easy when you are all using one platform and all your documents are in one place. Everyone gets to collaborate and be productive in one space.
When you’re able to just hop on a call and collaborate with all of your employees at the same time and in real-time, you are allowing everyone to have their voices heard and all of the feedback gets received immediately. All of the questions get answered within seconds. Anything that may cause confusion can be cleared up quickly and easily. It just makes communication within the team a lot easier and quicker which can boost and improve the productivity of everyone working on a project.
Makes scheduling meetings easier
Scheduling regular meetings can be a nightmare, especially if a lot of your workers have to travel. It can be a real challenge to find the time that works for everyone and organise the meeting on time. Finding the right place and time can be tough as well as making sure that everyone can be there. However, with video conferencing, people can join the meeting no matter where they are. They can be sitting in their bedroom, in a cab, a café, airport, or hotel room. No matter where they are, they can just log in and join the video call as long as they have a stable Wi-Fi connection. This will make it easier to organise and hold meetings whenever you need them.
Creates consistent, accurate records
Firstly, by being able to hold meetings more regularly, you will be able to keep track and records your progress and what’s happening. Not only that but also being able to look back on what you discussed during the meeting is a lot easier with video conferencing. Your meetings can be transcribed and all the information you need is neatly organised in one space and on one platform where you can browse through the main points made in the meeting and use them for future reference. It is just a way more organised way of keeping records.
Enables live events
Lastly, no matter how many people you want to connect with, video conferencing can make it easy for you. You can connect with a single client, a smaller team, or the entire staff via video conferencing. This method allows you to share your message virtually with anyone who can join the video call. The options are versatile when you use video conferencing. You can hold regular meetings, panel discussions, product launches, webinars, and other events for the audience no matter where in the world they are.
Conclusion
All things considered, video conferencing seems to have many great advantages. It can save you a lot of money and time. You can easily connect with anyone no matter where they are. It increases the productivity and efficiency of the meetings, and it offers versatile options. These are some of the main reasons, why you should consider using video conferencing for your meetings and other business events.
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