If you’re self-employed or earn income that is not subject to tax withholding such as rents, prizes, awards, interest, or alimony, or if you don’t have enough tax withheld from your salary or pension, you will need to make estimated tax payments throughout the year or face a hefty penalty at tax time.Self-employed individuals will also need to pay an extra self-employment tax on top of their regular income taxes. Estimating your tax payments isn’t too complicated. The IRS has worksheets you can use to calculate your quarterly payments. In general, if you anticipate owing over $1000 after subtracting your credits and current withholding, you should pay estimated tax payments. This number is adjusted by the IRS periodically.Estimated tax payment requirements vary for individuals, sole proprietors, corporations, and farmers and fishermen. Check with the IRS for guidance.For the self-employed, use Form 1040-ES from the IRS to make your calculations. Use your previous year’s tax return as a guide. This will come in handy when doing rough calculations as far as your deductions, expected income, and so forth. Take into account any expected changes both in your own situation as well as tax laws.The worksheet includes a tax rate schedule that you will need to refer to once you’ve come up with a figure of taxable income. In addition, you will need to pay self-employment tax on top of the regular income tax. Pay attention to the instructions for calculating this tax as there are different rates once you pass a certain self-employment income threshold.In addition, only 92.35% of your self-employment income is currently subject to the tax so you will first need to multiply you self-employment income times.9235 to get the amount that is subject to the extra self-employment tax. For example, if you expect to earn $30,000 as a self-employed individual, $27,705 will be subject to the additional self-employment tax. At the current rate of 15.3%, the self-employment tax would be $4239. It’s important to realize that this is in addition to regular income tax.As you work through the worksheet, you will have your final figure representing your estimated taxes for the year. If you will owe over $1000, you will then divide that number by four. You will then be responsible for making four quarterly estimated tax payments for that amount according to a schedule set up by the IRS. Depending on the calendar, the payment due dates vary from year to year. However in general, the first payment is due in mid-April, the second is due in mid-June, the third is due in mid-September, and the final payment in due in mid-January of the following year. Payment vouchers are included on the 1040-ES worksheet.As the year progresses, your estimated income may fluctuate. You can use the worksheet to recalculate your estimated taxes and amend your remaining estimated payments. Doing this will ensure that you won’t be left owing more than you anticipated should you earn more money than you thought. It also ensures that you aren’t overpaying the taxes either.Because you will need to pay these taxes one way or the other, it makes sense to be aware of the taxes with every check you cash. Figure out what percentage of every dollar you earn needs to be put aside for taxes and sock that money away immediately into an account specifically designated for your taxes.
Video Production: A Revelation
Video production has changed the way we view the world. It allows us to see and understand what is being presented without the tediousness of reading small print text. Without the presence of a video, it is much more difficult to grasp what is at hand and what is meant to be conveyed through the piece. It was reported that over 700 billion videos have been viewed on YouTube this year alone proving that video production has such a phenomenal impact on the public.
YouTube receives over 3 billion hits per day whether it is through “how to” videos, gag videos, or through music videos, the information is streaming right to the consumer without any buffering or implications. The consumer is able to see the product in a more creative way that enhances its sales and recognition. With its availability and consistency, videos produce the ability to generate opinions, brand recognition, and instill a working relationship with the customer.
Video production companies connect the customers with what they want to see without the fluff and clutter of the words. Web videos are directing them right to the purpose of the article which is ultimately what they want. The viewers’ needs the information now just like every other consumer. Websites that implement web videos immediately draw in the crowd enhancing their experience with the page which improves the site’s search engine ranking. It keeps their interest sparked and juices flowing.
Through the web videos the information is conveyed quickly and effectively, the site is navigated more efficient, knowledge about the company is provided, and it generates popularity among the cohorts. In such cases with video production companies, they are presenting numerous videos displaying their talent and knowledge about the topic. It gives the viewer a chance to see the skills of a video production company and what they have to offer. That is what the viewer wants to see. Knowledge about the company is immediately presented along with a myriad of videos that showcase the company’s expertise in video production.
Video production has the ability to link to other social networking sites such as Facebook, Twitter, and LinkedIn among many other social media platforms. This feature that creates a connection to a greater base of people in due course creating a snowball effect that will increase the companies search engine optimization (SEO). The association of the video with the company will create a remembrance and a better feel of the company because of the video. It allows the viewer to also engage in what the company is presenting through their video. The viewers can post comments about the video, can share the video with their friends and family, and can rank whether they like the video or not. They can be a part of what is going on and what kind of traffic is being generated. This kind of interaction establishes a base between the company and potential client. Regardless of these features, the video is still be viewed by those who visit the site.
The internet has become a necessity to the consumer population. The public spends hours upon hours surfing and searching the internet for medical advice, humor, friends, news, or whatever they please. It has become the main source of consumption. Without the internet, products would not be consumed, companies would not be known, and the consumers would be at a loss. There would not be a channel to produce information.
According to a study conducted by CNN Money Report, it is predicted that online consumer traffic will increase more than 75% in just three years. This increase proves how important video production is to the consumer market and how it has become an absolute necessity. The immediate stream of web video production upon entering a site will not only draw the consumer in, but will also navigate their perception of the product and the company creating a lasting impression.