Financial Tips Infographics

6 Productivity Tips from Productivity Experts—the CEOs

How can we be more productive in our business? This is a question that every startup company wants to know. And who best to answer this question than the successful chief executive officers (CEOs) of various companies. Here are the productivity tips, according to top CEOs.


Plan ahead

There is a saying that goes: failing to plan is planning to fail. Keep the entire employees in the loop of the company’s plan. This is usually what Monday meetings are for. You set out the week’s goals and point out specific tasks. Facebook’s Director of Product Fidji Simo told Fortune magazine: “Write down your priorities on Monday morning, and rearrange your agenda for the week to make sure it will allow you to address these priorities.”


Don’t procrastinate

But don’t get caught up with the Monday meetings! Some companies enjoy the discussion too much that they end up meeting the entire day. Where’s the productivity in that? Keep the meeting brief and implement strategies right away. Do not procrastinate. “Just get it done right away,” Anthony Tan, the CEO and co-founder of Grab, said is one of his productivity tips. “I don’t wait until I get home. I take calls wherever I am. I execute on any feedback I get right away. That way, the work never piles up.”


Restrict Internet access

Social media is making people unproductive. But you have to admit that some tasks demand Internet access and even social media access. Depending on the employee’s specific task, Internet access should be curtailed. Or if the Internet is important, at least, some websites should be barred in the office. Focus is a requirement in productivity.


Schedule breaks

A break is the best way to recharge. So one of the many important productivity tips a business should consider is this: Allow employees to enjoy some break in the morning and afternoon—between 15 and 20 minutes. Of course, a lunch break is mandatory. People actually became more creative when their mind is rested. And sometimes, the best ideas pop up when one’s brain is not convoluted with official tasks.


Stock up on healthy snacks

Your brain needs proper nutrition in order to function. Encourage employees to eat healthy. One way to do that is to have the office pantry stocked with healthy food—fruits, vegetable snacks and a lot of water. Every office needs a coffee, but perhaps it’s time to get into the organic coffee beans. By keeping only healthy options in the office, you are encouraging your employees to practice a healthy lifestyle. And a healthy employee is a more productive employee.


Give deadlines

Every task should have a deadline. But of course, don’t give deadlines that are impossible to achieve quality is more important. But the point of having a deadline is that your employee will focus on nothing else but the task until it is finished. As Wizz Hosting CEO Tony Messer pointed out in one of his productivity tips, “It’s okay if you get a little bit behind; just try to shave a few minutes off another task to be caught up.”


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Financial Tips Infographics

5 Ways Not to Stress About the Future

Experiencing stress is part of human nature. And the future is one thing that causes undue stress because of that fear of the unknown. It is worth noting that one-third of Americans don’t have retirement savings. This fact would hopefully encourage more people to be mindful of how to save for retirement. The earlier a person starts saving for retirement, the better. Starting early lessens the stress of thinking about the financial constraints of retirement.

The main reason why people are stressed out about retirement is that they don’t know what to do. So here are some of the ways to reduce stress when saving for retirement:


Research about investment opportunities

Retirement fund should not be limited to the pension or other government-led financial plans. Investing in a business or businesses, stocks and other assets is another way of earning your retirement fund. The great thing about this is that there is a tendency to become big. So if you invest now that you are still working, your stress level will not be as erratic because of the thought that there is money coming in regularly. As soon as you have extra money, make another investment. Seek the help of an expert in finding the best investment opportunities.


Know how much you are contributing for your future

Sometimes, employees simply contribute to the 401(k) without really assessing how much money they will actually have in the future. It helps to even out the stress level if you know at least a bit of the future—the financial aspect. This way, you can plan some more. Should you make another investment? Should you open another savings account for future needs? So make an accounting of your current contribution for your future.


Talk to an expert

Get an expert to spill the beans on how to save for retirement. Don’t worry about the cost of getting the consultation, it will be worth it. Besides, it’s not like you will be talking to that expert regularly. You can just meet him once and ask for advice on how to make the future a more comfortable one for you.

Increase retirement fund whenever you get an increase

When you get an increase in your salary, increase your retirement savings as well. Whether you do this through your 401(k) or simply by putting it away in a savings account, that is up to you. The important thing is that you are conscious of making your retirement fund bigger. Remember that years or decades from now, the prices of goods and services are already inflated. So it is essential that we have more than enough set aside. When it comes to savings, it is always better to overshoot it than to underestimate your future needs.


Map out a budget

Draw out your future expenses—include inflation in the computation. Basically, you just map out your current budget and add inflation costs. But you also have to add miscellaneous costs like medications and supplements. You have to admit that getting old means you might get sick more often. Anyway, there are mobile apps that will do the computation like Mint and Pocketguard.  How to save for retirement? It means just twiddling your thumbs.


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Infographics Unfiled Tax

How to File Unfiled Tax Returns

If you missed filing last year’s tax return, then you can file retroactively.  It is always stressful to keep up with the time, but in most cases, you can prepare and submit most state tax returns late.

Failure to file Federal Tax Returns to both the IRS and State leads you to a lot of consequences. Filing a tax return is always in your best interest.

Steps in Filing Unfiled Tax Returns


Gather and Keep All Important Documents

Keep the W2’s, 1099’s, and all other necessary forms for the year that you missed filing the return.

If you have itemized deductions, you will need records and receipts to support your claims. If you don’t have those forms, you should contact your employer, former employer, or financial institution. You can get the figures for your wages on your last pay slip of the year.

However, if you cannot gather these documents, call the IRS at 1-800-829-1040 or request for wage and income transcript.

You may acquire 1099 and W2 information even if you don’t have them since the wage and income tax records are kept up to 10 years. If you are self-employed and accomplished 1099-D, the IRS wage and income transcripts will assess your income for a taxable year.

Besides those forms, bank statements may also help determine your income and expenses.

Get All Important Tax Forms

Filing back taxes will require you to use the tax forms for that particular year when you missed out filing. For instance, if you are preparing an individual tax return for 2016, then you need to accomplish Form 1040 for 2016.  You need to use the form for the same year since the rules and credit may change each year.

Old forms can be accessed online. And if you cannot find the one for that particular year, you may contact the IRS or your state’s Department of Revenue. However, there’s a less hassle when you use a software or hire a tax preparer.

Hire a Tax Preparer or Get a Software Program

Getting a tax professional’s help is optional, but this can make filing less cumbersome.

However, if you’re using a software program, you need to use the application for the particular year. You will need to buy a CD or download the software for that particular tax year.

A tax professional will take care of everything. They will find the right tax forms for you. But make sure to consult with the tax professional since some tax forms for a specific year may be unavailable.

Mail Your Tax Returns

Late or old returns cannot be emailed. Otherwise, you need to mail them to the IRS or your state’s revenue department. The address can be found on the tax return or tax return directions. However, if you have a notice telling you to file a return, you should use the address on that IRS letter.

Moreover, if you are working directly with an IRS Revenue Officer, you must address the returns to that particular person. If you’re confused on where to mail the return, you should contact the IRS or state directly.

Other Considerations

When filing old IRS tax returns, the IRS will want you to include the last six years. State tax laws, however, may have some different policies, so you must consult your tax professional (Enrolled Agent, CPA, or attorney).

Take note that filing your return is just a first step to prove the IRS that you already complying to the rules or demands set by the IRS or your respective state. Filing the tax return is also a wise technique to reduce the penalty and to gain the trust of IRS or state representatives who might be open to work with you to settle your tax obligations.

After all, it’s always best to seek a tax professional service when filing tax returns. The tax professional should start with an analysis on your financial condition and investigate on your tax problem(s). Some of the things that must be look into are: current income, assets, expenses, and tax transcripts.


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Bank Levy Infographics

How to Stop an IRS Bank Account Levy?

The IRS will give you up to 30 days before it proceed with the bank account levy process. Within the time frame, you are expected to settle your back taxes either by paying in full or setting a payment plan or arrangement with the IRS

If there’s no action done to pay your tax due or to set up a plan, the IRS will then start levying your assets.

The IRS has the legal right and responsibility to levy almost anything you own– with a few exceptions. One of the most preferred methods is an IRS bank account levy. The bank account levy without notice is possible and this can be irritating since you won’t receive a notice that your bank account is going to be levied.

The bank account levy can happen after the 30-day period lapsed and after you received the Final Notice of Intent to Levy. The IRS will ask your bank to freeze your account for at least 21 days before they can seize the funds from your bank account.

How to Stop IRS Bank Account Levy


To stop an IRS bank account levy, you need to act immediately within 30 days after the “Final Notice of Intent to Levy” was sent or  21 days after the IRS has frozen your account.

Time is not always on your favor since the IRS is serious in levying your money from your account. Any amount taken by the IRS cannot be returned back to you since this will be compensated for your tax debts.

You must act quickly and settle your tax obligations if you don’t want to have your  bank account money blown away.

Ways to Release or Stop IRS Bank Account Levy


Pay the IRS the entire amount of your back taxes, including interest and penalties. The bank levy will be removed once the entire debt or tax due has been paid off. You may consider borrowing from your family or friends, get an advance pay from your employer, sell another asset to set aside money for the payment of your tax debts.

Enter into an Installment Agreement. This is when the IRS allows you to have staggered payments or in increments on a monthly basis. However, the IRS will accept your installment if you can offer a reasonable amount. Once your Installment Agreement is accepted, the bank account levy will be released and the funds will not be seized. You should be responsible on your tax obligations and never miss out any payment for you to keep a good standing. The IRS can reissue the levy if you remain delinquent.

File for an Offer in Compromise that allows you to pay for back taxes at the amount you can handle. Unfortunately, only a few people get accepted in this payment method and those deemed by the IRS deserving for this tax relief option. You cannot trick the IRS with an OIC just to stall the payments. You will just get into trouble if you do. If the IRS officer believes that you qualify based on the requirements, he or she may release the levy until your tax filing has been fully reviewed.

Prove financial hardship that may stop IRS levy. The IRS, despite being harsh in its collection activities, wants you to have just enough money to pay for your need before it takes away your money. Being said, this is one of the most common methods to stop a bank account levy. However, this won’t solve your tax problems. It will only delays the IRS action and extends you time to settle your tax debts. You need to prove the IRS at your best that you and your family will be struggling financially or that your overall health and well-being will be compromised if the levy continues.

Whatever method you choose, it is important that you act immediately. There is always harm in wasting time when dealing with the IRS.

It is always a sound advice to hire a tax professional who can help you go out of this IRS bank account levy problem.


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Infographics Tax Levy

IRS Wage Garnishment Frequently Asked Questions

What is an IRS Wage Levy or Wage Garnishment?

An IRS wage levy, or wage garnishment, is a legal acquisition of your assets or money from your payroll to compensate for your back taxes. The wage garnishment happens when you keep on ignoring all the notices, letters, or warnings from the IRS.

The Internal Revenue Service (IRS) will ask your employer to send the a particular amount from your paycheck until such time you’ve settled your tax due or get into an arrangement with the IRS. This collection process also applies on how the states levy wages.

How much does the IRS levy from your paycheck?

The IRS will send your employer publication 1494 and other instructions to take a portion of your salary.

The table shows the amount you’ll get and the amount that will be appropriated to the IRS. Your filing status and the number of exemptions filed will determine the amount that will be left to you. For example, as of 2017, a single taxpayer, with two exemptions and got paid weekly by his employers, was allowed to take home $277.78 every week and the rest of the amount would be garnished by the IRS.

If you are married and you have three exemptions filed jointly then you can keep $477.88 each week. The remaining amount will go to the IRS. Check out the table to see the percentage of your salary that can be kept based on your filing status, the frequency of payment, and exemptions.


Can IRS Levy Bonus Payments?

Bonuses are usually considered to be included in your paycheck, and this, of course, can be garnished.

Levy on salaries will continue until it is released. The IRS levy your bonus, too,if your employer pays it aside from your regular salary. Even if you have back taxes, your employer will be asked to forward your entire payment to the IRS because the amount exempt was already remunerated for that specific pay period.


How to Stop IRS Wage Garnishment?

There are ways to stop IRS levy especially wage garnishment.

An IRS final notice requires immediate response and action for you to set up a resolution or any payment arrangement with the IRS to settle your tax debt. You may also qualify for a financial hardship for you to be considered as uncollectible. Another option is an Offer in Compromise.


How to Stop State Wage Garnishment?

State laws can regulate the amount that can be taken away from your paycheck. The rules, however, differ from one state to another. For instance, some states can lower the amount that will be garnished, but they cannot stop the garnishment unless you have paid off your tax debt.

The agency will not reduce or stop wage garnishment unless you file bankruptcy or prove that you are facing financial hardship that might compromise your family’s well-being.

IRS Wage Garnishments Law:

It is legal for the IRS to garnish your wages or seize your properties and other assets when these three actions have been fulfilled (with exceptions):

  • The IRS must have assessed your tax liability and sent you notices for the amount you owe
  • The taxpayer ignored the notices and overlooked the payment of back taxes
  • The IRS had sent the “Final Notice of Intent to Levy” and Notice of Your Right to a Hearing within 30 days before the actual levy started

If you didn’t respond immediately to the final notice, or file an appeal, after the 30-day grace period, you cannot stop the IRS from collecting the taxes you owe. There’s this exception where the RS can start the garnishment without having to wait for 30 days after they sent the Final Notice of Intent to Levy.  

The IRS is very powerful that it can choose its tax collection activity over following the rules.

A Disqualified Employment Tax Levy, or a federal contractor, won’t be required to undergo a hearing process 30 days in advance after the levy takes effect.


What’s the Exact Section of the Internal Revenue Code that States the IRS Has the Authority or Power to Levy?

You can find this ruling on the Taxpayer Relief Act or Section 6331 of the Internal Revenue Code of 1986 that clearly states the IRS has the authority to levy wages or properties so they could collect back taxes.

What are the Types of Wages that the IRS Can Take or Levy?

The IRS can legally seize or levy the following:

  • Wages or salaries
  • Dividends
  • Commission
  • Payments on promissory notes from another person
  • Bank account funds or spouse’s bank account (for joint accounts)
  • Retirement accounts
  • Federal contractor payments
  • Federal retirement annuity income coming from the Office of Personnel Management
  • Car
  • House
  • Other declared assets or properties

What Properties Are Exempted from an IRS Seizure?

Again, the IRS is allowed by law to seize your properties to collect tax liabilities.

Despite the long list of items the IRS can seize, the IRS cannot take away the following:

  • Court-ordered child support payments
  • Social Security Disability Insurance
  • public assistance payments
  • workers compensation
  • Pension payments
  • School books
  • Clothing
  • Furniture
  • Tools used for business
  • Assistance under the Job Training Partnership ac
  • annuity payments

How To Avoid Wage Garnishments Related to Tax?

The straightforward way is to become a responsible taxpayer. You must file your tax returns and make timely payments to avoid any IRS tax problems.

If you cannot afford the total taxes owed, you should hire the service of a licensed tax professional to get a better success.

How Can a Licensed Tax Professional Assist You With IRS or State Wage Garnishments?

State and IRS wage garnishments are difficult to deal with and will require an expert tax professional to represent you before the IRS. They have the “know-how”  on how to get you out of this situation and provide with the best arrangement or tax resolution. The tax experts will analyze your financial situation and needs and take care of the entire negotiation process to stop IRS levy or garnishment.


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Infographics Tax Levy

How to Stop Wage Garnishment with the Help of a Tax Professional?


When you overlook an outstanding tax debt and intentionally avoid paying the amount owed, the IRS can garnish your wages.

Are you receiving notices from IRS that it will garnish your wages? Then it could be your cue that you need help from a licensed tax professional to remove or stop wage garnishment.  It’s difficult to stop wage garnishment  alone without a tax professional backing you up. A licensed tax expert can help you negotiate an arrangement with the state or IRS, so you can prevent wage garnishment from taking its toll in your life.

If IRS already has its hands on your wages, the tax professionals will be able to release or stop the levy, while negotiating a suitable arrangement that suits your financial standing and tax requirements.

If you fail to take action, the State or IRS will continue with wage garnishment until such  time that:

  •         You have come up with an agreement with the state or IRS
  •         You have completely paid tax payment owed inclusive of interest and penalties.
  •         The time frame allotted for collection of tax payments has expired.

What are the Ways that a Tax Professional Can Help with Wage Garnishment?

While many people would choose to sort out their financial troubles alone, consulting a licensed tax professional can help you get the best results for your tax problems — and one of these is wage garnishment.

Working with a tax professional can help you negotiate with IRS to come up with a mutually beneficial arrangement or resolution that will stop wage garnishment. Below are the myriad of benefits that you can get when you choose to work with a tax professional:

 Call the State or IRS on Your Behalf

A licensed tax professional can speak with the state or IRS  representatives on your behalf. The most common problem experienced when calling the State and IRS is the long hold time. A tax professional can definitely help you speed things up as they have a dedicated practitioner line that can call IRS and majority of states in the U.S.

 Experts on Your Tax Rights

Licensed tax professionals know how to play their cards well enough. They know what financial details must be disclosed and which ones are to be kept confidential. Some taxpayers make the mistake of over-disclosing financial information to the IRS, which could aggravate their situation. The latest tax gap report by the IRS is now at $32 billion for people who have not filed tax returns and $39 billion attributed to non-payment for 2008-2010; respectively.

Can Stop State and IRS Wage Garnishment 

A tax professional is your go-to specialist if you are having problems with IRS and would want to prevent IRS and state wage garnishments right away. In most cases, a licensed tax professional would be able to go around any financial disputes and help you negotiate levies quickly. Depending on your financial or credit situation and tax due, a tax professional can help you achieve the best results in terms of completely resolving IRS tax problems; while in some states, tax professionals can help you reduce tax wage garnishments and other forms of levy. You can always turn your back to these people to stop wage garnishment.

Illustrates Your Eagerness to Resolve Your Tax Problems

Wage levies are most often enforced as a result of your inability to respond to the notices and calls from the IRS and the state in line with your tax debt. Hiring a tax professional will give the state and IRS an impression that you are seriously trying to resolve the dispute. Currently, IRS revenue officers prefer to discuss and communicate directly with tax professionals because this allows faster resolution and win-win arrangements.

Guarantee the Best Tax Resolution or Agreement 

Most taxpayers do not have a clue on what their tax options are. Most likely, state and IRS representatives would not even give you recommendations or advice. A licensed tax professional always has your best interests in mind.

He or she will assess your current financial situation and, from there, determine whether you qualify in some of the IRS and state tax programs. The tax professional will help you get the best payment plans that can solve your financial and tax debt problems. If you’re looking for the best way on how to stop wage garnishment, then that is getting a tax professional.

Understand the Requirements for a Specific Tax Resolution

Tax resolution firms and tax professionals have an extensive experience in negotiating with the IRS. They know and understand the requirements, timeframe for filing, and deadlines. Their expertise in tax resolution will help you get the best arrangements to settle your tax debt.

Help You Prepare Tax Returns

Licensed tax professionals, such as CPAs, Enrolled Agentss, and Tax Attorneys, are savvy in filing tax returns. These licensed tax professionals are experienced in filing for business and individual tax returns. They can also hep you file a tax return to avoid problems with the IRS>

How Does a Tax Relief Process Go?

The process starts by requesting a free consultation with IRS and state wage garnishment.

Free Tax Consultation

First of all, you will need to choose a licensed tax specialist or tax resolution firm that can provide a comprehensive and unbiased analysis of your financial and tax situation. The tax professional can assess your current financial standing by asking you a few questions related to wage garnishment notices and your outstanding tax debt. They could ask about the start date of the wage garnishment and tax owed. They would ask about the notices from IRS, the date you received the letter, and if the notice is duly certified.

The tax professional will also ask you about your tax and financial situation. You should prepare for the consultation by reviewing your financial information like your monthly income, expenses, assets, and debts.


If you are not sure with your financial data, then you can get free consultation from a licensed tax professional. The investigation would usually require that you get the account transcripts from the State or IRS, so you can check and verify tax filing and payment. This process will allow you to retrieve information regarding the years that you will have to file, how much you have to pay for each tax year, as well as the interest and penalties.

Tax Options

After your financial standing and case details are reviewed, the firm will lay out tax options that are applicable to your case. The tax professional will also assess whether you will qualify in any of the tax resolution programs. He or she will also explain the pros and cons of each tax option. The fervice fees will also be explained for you to get you in good credit standing with the state and IRS.

If You Decide to Hire

In the event that you decide to go for a tax option (with no obligations), the licensed tax specialist will send you a limited power of attorney (POA) to review and he or she will negotiate with the state or IRS in your behalf. POA will also instruct the state and IRS to communicate directly with the tax specialist. In addition, all emails and letters will be forwarded directly to the tax professional. If you would need help with tax filing, you have to comply to some requirements. If you do not have an old W2s or 1099s, the tax specialist may request for an income or wage transcripts for record purposes. Once the tax resolution is complete, the assigned tax professional will still continue to guide the taxpayer to avoid future problems on tax payments.


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