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New companies are facing lots of difficulties in filing the taxes forms according to current taxation rule. This is because filing taxes requires expertise by the companies and need to be done quickly to avoid penalty. But, it is not easy to process the complicated forms showing all the transactions occurred during the year in a statement correctly. This is why the companies are hiring taxation experts to process the forms and file according to latest rules of internal revenue service. But, filling the forms through traditional method is more time consuming and unsafe for companies. There is risk of getting lost the forms while sending to the IRS. To avoid such risk, the companies can file their taxes forms through online media which enables the taxpayers to send their statement within seconds. Let us look at the reasons why tax forms should be filed through online media.

Companies need skilled professionals to carry out the work efficiently in office to grow at faster rate in market. The employees use their skills and time in carrying out the work nicely to develop the company. The employees contribute for the growth and development of the company during the year. This is why the companies pay remuneration to the employees for their contribution toward the company. But, employees need to show total amount and pay taxes. File w-2 online to show wage-tax statement immediately and file the forms accordingly. The form is usually filed if total amount is more than taxable amount set by the Government of US. Filing of bulk forms is not easy and requires help of taxation experts by the company. But, processing the forms through software and filing through online media make thing easier for company. It is also for companies to get more tax return from IRS than in traditional method.

Apart from the regular remuneration, the companies pay special privileges to the employees during their employment. These privileges are helpful in binding the employees and work wholeheartedly for the development of the company. In fact, the privileges are helpful in maintaining the welfare of the employees during their service period in company. But, companies need to show total extra income paid to the employees during the year. File 1099 misc form to show the miscellaneous incomes provided to the employees by the company. The form is issued if total amount is more than 600 dollars annually and file for tax return immediately. Filing the forms through online media enables the companies to complete transaction quickly.

New companies coming to manufacture and promote products face numerous challenges. Financial constraint is one of the main problems face by the company during the business in the market. This is why the companies mortgage their properties to get financial aid from lender to carry out the business activities. But, the companies need to return the amount with a fixed interest at the end of the tax year. This is why the companies file form 1098 online to show mortgage statement immediately to the IRS. The company can outsource the work to the professional in the market at cheap price. Provide the tax detail and rest of the work will be done by the taxation expert. Take help of our expert in filing the forms immediately according to current taxation experts.

“Extended-term loans are stupid not just for us, but for the industry.”
- John Mendel, Honda’s U.S. sales chief
at the 2015 North American International Auto Show

Mr. Mendel elaborated that competitors are doing stupid things to increase sales and it includes seven-year long loan terms. He said that automakers are selling more vehicles by offering 84-month loans that decrease monthly payments and make it difficult to repay the loan faster. He added, “You’re ringing the bell on a new-car sale, but that customer is saddled — they’re stretched so thin.”

John Mendel’s interview has highlighted a very important aspect of the current auto financing world. Several auto financing companies are offering extended loan terms to increase their sales. They are attracting customers by emphasizing on lower monthly payments but deliberately ignoring the high interest rate part of the deal.

What is the Reality of Extended Loan Terms?

Extended loan terms or longer loan terms are attractive because they allow you to buy an expensive car while making smaller payments. But, before you opt for such a loan program, it is important to understand its reality.

• The upside down loan situation

Upside down car loan means that you owe more to the lender than the car’s actual worth. It is a very dangerous situation because if your car is written off in an accident, you will still have to pay the loan amount. It means you will have to pay money for a car that you no longer drive.

If you opt for a longer loan term and smaller monthly payments, you will end up with an upside down car loan. It is because lenders will direct monthly payments towards the interest and will not reduce the principal amount.

• The negative equity situation

When you buy a car, its value depreciates quickly in the first few years. And, if you opt for extended loan terms, you make smaller payments. It means the outstanding loan balance doesn’t reduce quickly. It creates a situation of negative equity. Remember that it is harder to trade-in a car with negative equity because it doesn’t have the power to reduce the new asset’s cost.

• The higher interest payments situation

SCENARIO -1 – Suppose your loan amount is $20,000. If the interest rate is 5% and the loan term is seven years, then you will pay $3,744.97 in interest.

SCENARIO -2 – Now, let’s assume that your loan amount and the interest rate is same as Scenario-1. If the loan term is reduced to four years, you will end up paying $2,108.12 in interest. So, it is advisable to opt for a shorter loan term and save money in the long term.

Now that you have understood the reality of extended loan terms, it is advisable to you stay away from it. Remember that it is always the bigger picture that matters.