The amount of taxes withheld from the paycheck for a financial year is used to file federal and state taxes. This amount is shown in W-2 forms.

The Internal Revenue Service (IRS) needs employers to mention the salary, wage details, and other information of their employees on the W-2 tax forms. This tax form also mentions information about all the federal, state, and any other taxes that are withheld from your paycheck. All the details in your W-2 form are extremely important when your preparing for filing the returns. This is crucial for the employee. To make sure that you do not miss out on the filing of this tax form, the IRS ensures that they send the form to the employer not later than January 31st, following the close of the financial year that is on December 31st.

Only an employee can receive the W-2 tax form. In case you are self-employed or an independent contractor, you would get the statements of earnings on Form 1099 and not receive the W-2 form.

The W-2 form is bifurcated into different boxes that shows numerous items that are related to your income. The first box is for the annual salary payments and wage along with the information regarding the federal tax that is being withheld in the second box.

It is to be noted here that just a part of your income is subject to the Social Security tax. The third box of the form reports the amount that is less than your total income for the financial year. The other parts of W-2 tax forms include Social Security tax, Medicare taxes that are pending, and other information with respect to the employees’ state income tax that is being withheld.

The identifying information segment of the W-2 tax forms is a vital section that can be noted by the IRS in cases where your reported income and information on W-2 tax forms do not match. Moreover, the accuracy of the reported income is checked by matching the payments stated with the corporate tax return policy of your employer. Also, the IRS receives a copy of the W-2 tax forms and are aware how much tax you owe. So, in case your name and Social Security number on your tax forms is inaccurate, make sure to immediately report the same and ask your employer to correct it.

Remember when you are filing your tax returns, a copy of W-2 tax forms must always be attached. In case you are e-filing your returns then the information of your W-2 is sent with the tax return; however, if you are filing the return by mail, you will need to place a hard copy of the W-2 tax form with your return.

It is easy to get loans today, but not easy to get low-interest loans. Today banks charge a huge amount of money in the form of interest, which will give you cold feet even before you meet the bank manager to approve your loan.

The truth is that lower your interest rate, the easier it gets to pay off your loan. There are certain loan strategies that you need to learn if you want to save up on your loan interest amount.

Read on to find out how you can get low interest on loans.

Repair your credit score
One of the best ways to get low-interest loans is to have a decent credit score. If you have bad credit and are planning to apply for a loan soon, try to repair the score as much as you can. You can do so by catching up with past payments that you are yet to clear. Another way to do so is by limiting your credit card use and spending less.

Irrespective of where you take the loan from, it is in your best interest to keep your credit score good from day one.

Pay attention to whom you borrow from
A common mistake many people make is that they go to big banks to get a loan from and settle for the first quote that they come across. This is the worst thing to do. Most of the times, big banks charge a fortune in the form of interest on small mortgage loans. Instead, you should check with local credit unions and small banks that are most likely to give you better low-interest loans.

Consider setting up an automatic payment
Banks appreciate when you as a customer sign up for automatic payment option. Thereby, you do not have to worry about the payment deadlines and personally making the payments. It is noticed that because the banks want people to pay their money on time, they come up with beneficial offers that will give you a lower interest rate if you set up an automatic payment option while taking a loan.

Search for online lenders
Today, there are many digital lenders who give you a loan at a much lower interest rate compared to the traditional lenders like banks and credit unions. Search for an online lender who is affiliated with a reputed physical financial institution if you are planning to consider online lenders as your option.

Take your time to do thorough research before you sign the fine print and take the loan.

When it comes to loan interest, the lower it is, the better our lives are. You already are low on cash if you are applying for a loan and then to make it worse these days banks charge a far-fetched interest on them.

So, what do you do? You cannot stop taking loans. The best thing you can do is to get smart and follow some hacks that will help you get the best loan rates.

Here are five handy tips that will help you get low-interest loans:

Evaluate your credit score
The first thing you should do before you apply for a loan is to check your credit score. You won’t go far if you have a horrific credit score. On the other hand, if you have a good credit score and you earn decently, it will open many doors for you and you can take a loan from almost any bank, online lender, or credit union.

Understand the loan terms carefully
If you manage to find a low-interest loan lender, make sure that before you sign the deal, you understand all the terms mentioned in the fine print. Make sure that you can manage the payment terms that are mentioned by the lender. Be aware of the penalties that you are accountable for if you are late or early in paying off your loan.

Research extensively
Enough emphasis cannot be put on this tip. You should never take a loan from the first bank you enquire at. Make sure you browse, seek expert advice, and then decide from whom you want to take the loan from.

Consider borrowing a little more
This might sound like a bizarre thing to do, but it is observed that if you borrow a small amount, you must pay more as interest than if you borrow a little more money. This is because by borrowing more money your loan shifts to the next annual percentage rate bracket, which lowers your interest rate.

Low interest is not the end
Yes, agreed that finding a low interest is one of the top priorities when you are looking for a loan. However, don’t get blinded by this single factor. There are many other important factors that you need to consider along with getting a low interest. One such factor is whether you pay off your loan quickly. This would make a big difference as if you are paying a high handling fee just to return the loan early, you are better off taking some other loan with a slightly higher interest rate.

Taking a loan is a big financial decision. Just don’t be in a haste and know what you are getting yourself into before you sign the deal.

The bitcoin is not just one of the most popular forms of cryptocurrency, but it is quickly becoming synonymous with the term. There are a variety of currencies that have been inspired by the bitcoin collectively known as altcoins. These improvisations of bitcoins consider themselves to be a better and more polished version of the bitcoin. There are more than 700 different types of cryptocurrencies, while the world is still stuck on the bitcoin and its different variants. While the best time to invest in cryptocurrency is the most debated topic, here are three types that can help you get a better idea of cryptocurrency.

• Litecoin
  The Litecoin was one of the cryptocurrencies that was associated closely with the bitcoin and was also known as the sliver to bitcoin’s gold. This cryptocurrency was launched in 2011 by an MIT graduate and former Google engineer. The Litecoin might have serious similarities to the bitcoin but it has a faster block generation rate, which offers a quicker confirmation of the transaction. It is based on an open source global payment network and is not under the control of any central authority. Furthermore, it uses “scrypt” as a proof of work that allows decoding with the help of a consumer grade CPU.
• Ripple (XRP)
  Ripple offers instant as well as low-cost international payments. It works in real-time and provides a global settlement network. Ripple currency was release in 2012 and now has a market capitalization value of $1.26 billion. Ripple’s method of conformation, the consensus ledger, does not require mining. This is a feature that does not relate to the features of a bitcoin and altcoins. This feature is ideal as it reduces the network latency and does not require the use of computer power. This type of cryptocurrency believes that ‘distributing value is a powerful way to incentivize behaviors.’ Hence, they are planning to primarily distribute XRPs.
• Dash
  Dash was originally known as a dark coin as it is probably one of the most secretive versions of the bitcoin. The noticeable feature of this cryptocurrency is that it works on a decentralized master code that allows it make a transaction that is almost untraceable. It was launched at one of the best times to invest in cryptocurrency 2014. Thus, it gained popularity at an extremely high pace. This cryptocurrency was developed by Evan Duffield and uses the common process of mining. It can be mined with the help of a CPU or a GPU. In 2015, this cryptocurrency got its new name, Dash, which actually means digital cash.

There was a huge rush of capital investment in cryptocurrency in 2017, and a slightly similar pattern of investment is expected in this year as well. A recent study has shown that more than 25% people in the 18-to-34 age group claimed to invest in cryptocurrency over the government bonds and stocks. Another noticeable observation of this study is that more than 40% millennials are aware of the bitcoin as compared to 15% of the seniors (above 65). This indicates that there will be a rise in the investment and that this is probably the best time to invest in cryptocurrency. Read along to find some tips on investing in cryptocurrency.

• Be aware of the bots
  Cryptocurrency is very close to financial markets, trading, shares, and bonds. Therefore, you must be aware of the savvy players not taking help of bots to artificially inflate prices of their coin and tamper the markets. Trading bots are known to significantly hamper the investment and market prices, in 2017 an alternative for Ethereum by China went for around $34 to $3.74 within a couple of seconds and then went back to its original price at the same pace. The trading bots are the ones that cause an artificial drop in the price, and many investors gain from it.
• Understand your risk tolerance
  The first step, even before knowing the best time to invest in cryptocurrency, is to set a stop-loss level that helps you avoid bankruptcy. A stop-loss level is a level of loss that automatically closes your trade. The pro-tip is to build the potential of your coin with this stop-loss level in mind. Make a group of your coins and bifurcate them according to their volatility. The least volatile coins must be allocated a higher percentage, while the coins that are more stable must be allocated a lower percentage. However, you must note that among the stable ones, the one with a higher potential for returns must have a major chunk of the allocated percentage.
• Don’t miss out or overtrade
  This is one of the biggest fears of people in trading, no matter their years of experience in the field. Most traders indulge in either overtrading or have a fear of missing out. You must know the best time to invest in cryptocurrency as well as the right amount. The most common phenomenon is the urge of investing in a coin that is booming. Most investors not only invest in this but they invest a massive amount. Do not sell your coins if you see a small hike in the price, this is overtrading. The key is to be patient and wait for the best time to invest in cryptocurrency as well as sell it.

Today, a huge population of taxpayers files their tax returns online for convenience and efficiency. The right tax software can be great and make the process easier. However, it is not always easy to make a choice between the plethora of tax software out there. There are several intimidating questions that you may be posed with such as which is the best software and what is the difference between the choices? Getting a clear answer to the questions can be a brain-drain. To simplify decision making, here are some strategies that will help you get the best tax software to fulfill your needs.

• Consider what you are looking for
  When looking out for tax software, make sure that you have a set package in mind. Keep the budget aside and consider your requirements in terms of productivity and performance. To begin with, you will require a software that can efficiently complete simple tasks such as form selection and completion. A software that electronically files returns and gets the refund quickly is a bonus. Put enough thought into calculating the requirement.
• Software version
  The software you choose will come in various versions. It can be confusing to decide on which software version will work for you because the basic version will not necessarily pack the same features as the deluxe version. If you are in doubt during selection, it is preferable to choose the highest version as it will possess all the features that you will require. It is rare, but there are some tax software that comes in one version and can fulfill all your tax return requirements.
• Software help and support
  Sometimes, you can be stranded due to a problem and will need immediate support to continue tax filing and returns. The software should allow you to get in contact with a professional who can answer your queries. Ensure that there is a forum, toll-free number or support by chat that is linked to the software.
• System requirements
  If you wish to install the tax software, you must make sure that it will run on your system, especially if you have an old computer. However, if you use the online tax software, using a current web browser will suffice.
• Tax software guarantee
  The software developer should be able to back the product with a guarantee. The guarantee of the tax software can speak volumes.

Once you have mastered the art of using the chosen tax software to the best of its abilities, the tax-planning process will only grow into becoming easier in due time.

A tax software is a computer-based software that is developed to help taxpayers, companies, and individuals to prepare and file tax returns. The software simplifies the process of filing taxes by helping the user conveniently get through the tax forms and issues. It also automatically calculates the tax obligation of the taxpayer, thereby streamlining all the steps involved. A tax software is a great option to consider, for taxpayers who have their tax-time priorities in advance. If you are looking to get a tax software, here are four popular tax software programs that can fulfill your requirements.

TurboTax
TurboTax is one of the most popular and widely used tax software for personal tax preparation. Developed by Intuit, this is also one of the tax software programs that will require you to shell out top-dollar, albeit it gives you worth for your bucks. The tax software caters to the need of every category and is lauded for its user experience. Just like being engaged by a tax professional, the TurboTax software will provide guidance and deliver questions with appropriate answers. One of the notable features include the ‘Smartlook’ feature that allows you speak face-to-face with a tax expert. If you are looking for all the features, you must opt for the deluxe version.

Credit Karma
Credit Karma is a relatively new tax software program on the bandwagon. This tax software comes in a free version and can do a lot more than one can expect. To begin with, it is capable of handling most complex tax situations. With a good and functional interface, you may find it a little different from streamlined programs out there. Credit Karma offers tax preparation for free while monitoring programs will be charged for at a monthly premium.

H&R Block
It is yet another tax software that can carry out just about any function. As you prepare for your tax returns, H&R Block will efficiently assist you through the process. Moreover, if you ever find yourself stuck between the line, the Help window will let you seek additional answers. One of the best advantages of this software is that a taxpayer can sit down with a professional for free, after purchasing the software. The company offers free and paid versions, consider your needs and pick wisely.

TaxSlayer
This is another affordable tax preparation service that appeals to users for its ‘Quick File’ option. Initially designed to aid tax professional, the tax software now caters to needs of individuals looking to file personal returns. TaxSlayer allows convenient support of all major IRS forms and schedules; thus, the user does not have to deal with the hassle. If you ever hit a brick wall during the tax filing process, seek help through email and phone help.