
Home for the holidays? Show relatives you care with some tech supportwith participation from Power of N and Fortitude Ventures. Post this To solve for these inefficiencies, MaxHome is leveraging AI to create a streamlined, efficient, and transparent journey for everyone involved. MaxHome's operating system is built to tackle the everyday complexities of a real estate transaction. MaxHome automates over 70% of tasks involved in managing real estate transactions, including contract-to-closing processes, reducing manual data entry, compliance checks and eliminating repetitive tasks for real estate agents. MaxHome has already formed partnerships with leading real estate brokerages, including Baird & Warner, which ranks as the #13 privately held brokerage with a sales volume of $5.1 billion, and the Jason Mitchell Group, recognized as the #2 largest real estate team in the nation with a sales volume of $4.2 billion. "We are continuously investing in the latest technologies to deliver the best real estate experience both for our agents and customers. MaxHome AI has the potential to significantly improve the streamlining our brokerage operations and help us achieve our objectives. The Processing Copilot we've launched with MaxHome has already optimized our internal workflows, and we're looking forward to partnering with them in elevating the end-to-end experience even further," said Federico Masias, CINO, Baird & Warner. A recent McKinsey report estimates that generative AI could add $110 billion to $180 billion in value to the real estate industry over... MaxHome
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Affiliate links for the products on this page are from partners that compensate us (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate tax products to write unbiased product reviews. If your circumstances have changed, you may end up owing taxes when you usually get a refund. Common reasons include underpaying quarterly taxes if you're self-employed or not updating your withholding as a W-2 employee. You may also owe if you collected unemployment benefits, which are taxable. Filing taxes is a task few people enjoy. But the frustration is worth it once you receive a refund . That is, unless, you owe money. While having a balance due on your tax return can be a surprise for some, it's nothing to panic over. There are multiple reasons why you may have underpaid taxes throughout the year, from shifting financial and personal circumstances to changing tax laws. But understanding why you ended up with balance due can help you avoid it in the future. Changes in income and withholding If you've transitioned into a new job in the past year, this can have tax implications. "Changing jobs midway through the year will affect your tax liability if your income changed between the two jobs," says Logan Allec, an accountant and owner of tax debt relief company Choice Tax Relief . If your new job pays more and moves you into a higher tax bracket, you'll naturally end up owing more come tax season. But Allec says that changing jobs can affect your expected refund for reasons other than the change in tax liability . "Let's say that halfway through the year, you go from a job making $25,000 per year to a job making $12,000 per year. Unless you prepare your Form W-4 in a specific way, that second job may not withhold any federal income tax from your paycheck because your $12,000 expected total annual earnings are less than your standard deduction," he explains. So while you paid your federal income taxes on the $12,500 you earned during the first half of the year, you didn't pay any on the $6,000 you made during the remainder of the year. This could cause you to owe money come tax time because you'll have to pay taxes on that $6,000 since none were withheld during the year. When calculating withholding, each employer only considers the income earned at that job. When you have multiple sources of income, however, combining those income sources may mean you may fall into a higher tax bracket than you might with a sole employer. Increasingly, many people are earning money from a side hustle in addition to their full-time jobs. These gigs don't typically withhold money for taxes like a traditional employer does, so you may need to make estimated quarterly payments to keep up with your tax liability. If you don't, you could owe at tax time. If your side hustle brought in more than $10,000 in 2023 and you received that income through an app like Venmo or PayPal, you should have received Form 1099-K from the payment platform at the beginning of tax season to fill out your 2024 tax return. For the 2024 tax year, payment processors have to issue 1099-Ks to anyone who received more than $5,000 in payments for goods and services, even if it was only one transaction. This is part of an IRS plan to phase in new reporting thresholds, which will eventually reach $600. Unemployment benefits are taxable , but most states don't automatically withhold your taxes. Benefit recipients can usually choose whether to pay taxes through withholding or by making estimated payments. If you received unemployment benefits in 2024, you should receive Form 1099-G by the end of January so you can report the amount on your federal tax return. If you haven't paid any income taxes on the benefits you received, you may owe money when you file. Withdrawals from traditional retirement accounts are typically taxable. How much you pay depends on your age and the distribution rules of the account. Many employer-sponsored retirement plans, including 401(k)s , will implement a mandatory 20% withholding on the amount distributed from the plan, plus an additional 10% penalty if it's an early withdrawal. Often the withholding amount is enough to cover taxes, but in some cases it's not, leading to additional tax owed when you file your annual return. Quick tip: Make sure you file your taxes on time, even if you're worried you can't pay the full amount you owe, as the penalty for late filing is 10 times the penalty for late payment. The IRS offers various payment plans, which may help you avoid additional interest charges and penalties. Changes in deductions and credits Congress greatly enhanced tax benefits for struggling households during the pandemic. These included several rounds of stimulus checks, an expanded Child Tax Credit providing advanced payments to families, and a $300 charitable deduction that could be claimed alongside the standard deduction. All of these benefits have since expired, which may have an impact on your tax liability if your income has stayed the same or gone up. If your income or marital status has changed since last tax season, you may no longer qualify for certain tax credits or deductions. The Earned Income Tax Credit , for example, is only available to non-parents earning between $18,591 (single filers) and $25,511 (married, joint filers) for tax year 2024, up from $17,640 to $24,210 for 2023. Be sure to review the current income limits for deductions and tax credits well ahead of tax season to avoid surprises. Life events and tax implications Combining — or dividing — financial assets can shake up your tax situation, leaving you owing money when you usually get a refund. If you get married or divorced, be sure you have chosen the correct filing status and accounted for the increase or decrease in income when updating your W-4. If you sold your home for a profit, you may qualify to exclude up to $250,000 of the gain if you're a single filer or $500,000 if you're married and filing jointly. In order to do so, you need to have owned the home and resided there for at least two of the last five years. If you don't pass the ownership and residence tests , you may have to pay taxes on the gain. If you sell investments in a non-retirement account and earn a profit, you could be on the hook for capital gains taxes . These investments include things like stocks, cryptocurrency, mutual funds, and exchange-traded funds (ETFs). Any stock or crypto gains should be reported on your tax return. You'll be taxed on the difference between your basis (usually your purchase price, but sometimes that includes an adjustment) and the proceeds from the sale. The amount you're taxed will depend on how long you owned the investment before selling it and your total income for the year. While taxpayers usually have to pay capital gains taxes on profits received from investments, Allec says there are exceptions, like if you have capital losses that equal or exceed your capital gains for the year. "If this is the case, you'll owe no capital gains taxes on your stock or crypto you sold at a gain because your capital losses will have wiped them out," he says. Other factors If you're self-employed and have no other sources of withholding, you're responsible for paying your taxes through quarterly estimated tax payments . Your estimated quarterly payments for 2024 are due on April 15, June 17, September 16, and January 15, 2025. If you underpay your quarterly taxes — or fail to pay them — you could owe money at the end of the year and the IRS could charge you additional penalties and interest. But you're not just paying income taxes. An employer must pay half of your Social Security and Medicare taxes when you have a job. If you're self-employed, you have to foot the entire bill yourself. However, you can deduct the employer-equivalent portion of that when figuring your adjusted gross income. If you're self-employed, it's a good idea to work with an accountant. A knowledgeable accountant will determine how much you owe for your quarterly tax payments and can give you tips for lowering your tax bill. If you're sure you should be getting a refund rather than having a balance due, you may have made an error in your calculations. If you're using tax software , consider upgrading to get one-on-one help from a tax professional. Oftentimes they will personally review your return to double-check for mistakes. If you identify an error — such as forgetting to report some income or failing to claim a deduction you're eligible for — in a return you've already filed, you should promptly file an amended return to correct it. FAQs on owing taxes Yes, you can negotiate your tax debt with an Offer in Compromise (OIC) , in which the IRS requests more information about your financial situation to determine whether you qualify to settle your debt for less than you owe. The IRS offers reasonable payment plans to individuals who can't afford to pay their tax bill in full, including short-term (180 days or less) and long-term options. To avoid owing taxes next year, ensure that your W-4 is updated to reflect any changes in your life, such as marriage, divorce, or the birth or adoption of children. If you have income that isn't subject to withholding, such as a side gig, you should calculate estimated taxes and make quarterly payments to the IRS, and possibly your state. Real estate/mortgages Taxes Retirement planning Small business finances Banking BudgetingWASHINGTON (AP) — The House shut down Democrats' efforts Thursday to release the long-awaited ethics report into former Rep. Matt Gaetz , pushing the fate of any resolution to the yearslong investigation of sexual misconduct allegations into further uncertainty. The nearly party-line votes came after Democrats had been pressing for the findings to be published even though the Florida Republican left Congress and withdrew as President-elect Donald Trump’s nominee for attorney general. Rep. Tom McClintock, R-Calif., was the sole Republican to support the effort. Most Republicans have argued that any congressional probe into Gaetz ended when he resigned from the House. Speaker Mike Johnson also requested that the committee not publish its report, saying it would be a terrible precedent to set. While ethics reports have previously been released after a member’s resignation, it is extremely rare. Shortly before the votes took place, Rep. Sean Casten, D-Ill., who introduced one of the bills to force the release, said that if Republicans reject the release, they will have “succeeded in sweeping credible allegations of sexual misconduct under the rug.” Gaetz has repeatedly denied the claims. Earlier Thursday, the Ethics panel met to discuss the Gaetz report but made no decision, saying in a short statement that the matter is still being discussed. It's unclear now whether the document will ever see the light of day as lawmakers only have a few weeks left before a new session of Congress begins. It's the culmination of weeks of pressure on the Ethics committee's five Republicans and five Democrats who mostly work in secret as they investigate allegations of misconduct against lawmakers. The status of the Gaetz investigation became an open question last month when he abruptly resigned from Congress after Trump's announcement that he wanted his ally in the Cabinet. It is standard practice for the committee to end investigations when members of Congress depart, but the circumstances surrounding Gaetz were unusual, given his potential role in the new administration. Rep. Michael Guest, R-Miss., the committee chairman, said Wednesday that there is no longer the same urgency to release the report given that Gaetz has left Congress and stepped aside as Trump's choice to head the Justice Department. “I’ve been steadfast about that. He’s no longer a member. He is no longer going to be confirmed by the Senate because he withdrew his nomination to be the attorney general,” Guest said. The Gaetz report has also caused tensions between lawmakers on the bipartisan committee. Pennsylvania Rep. Susan Wild, the top Democrat on the panel, publicly admonished Guest last month for mischaracterizing a previous meeting to the press. Gaetz has denied any wrongdoing and said last year that the Justice Department’s separate investigation against him into sex trafficking allegations involving underage girls ended without federal charges. His onetime political ally Joel Greenberg , a fellow Republican who served as the tax collector in Florida’s Seminole County, admitted as part of a plea deal with prosecutors in 2021 that he paid women and an underage girl to have sex with him and other men. The men were not identified in court documents when he pleaded guilty. Greenberg was sentenced in late 2022 to 11 years in prison.
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SAN DIEGO, Nov. 25, 2024 (GLOBE NEWSWIRE) -- Robbins LLP reminds investors that a class action was filed on behalf of all investors and entities that purchased or otherwise acquired Acadia Healthcare Company (NASDAQ: ACHC) securities between February 28, 2020 and September 26, 2024. Acadia is a leading provider of behavioral healthcare services across the United States. For more information, submit a form , email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003. The Allegations: Robbins LLP is Investigating Allegations that Acadia Healthcare Company (ACHA) Held Patients Against Their Will According to the complaint, during the class period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Acadia Healthcare’s business model centered on holding vulnerable people against their will in its facilities, including in cases where it was not medically necessary to do so; (2) while in Acadia Healthcare facilities, many patients were subjected to abuse; and (3) Acadia Healthcare deceived insurance providers into paying for patients to stay in its facilities when it was not medically necessary. On September 1, 2024, The New York Times published an article entitled “How a Leading Chain of Psychiatric Hospitals Traps Patients.” The article noted that "Acadia has lured patients into its facilities and held them against their will, even when detaining them was not medically necessary” and detailed specific patient experiences. On this news, the price of Acadia Healthcare stock fell $3.72 per share, or 4.5%, to close at $78.21 per share on September 3, 2024. Then, on September 27, 2024, Acadia Healthcare disclosed, among other things, that on September 24, 2024, it "received a voluntary request for information from the United States Attorney’s Office for the Southern District of New York as well as a grand jury subpoena from the United States District Court for the Western District of Missouri (W.D.Mo.) related to its admissions, length of stay and billing practices." On this news, the price of Acadia Healthcare stock fell by $12.38 per share, or 6.36%, to close at $63.28 on September 27, 2024. What Now: You may be eligible to participate in the class action against Acadia Healthcare Company. Shareholders who want to serve as lead plaintiff for the class must submit their application to the court by December 16, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here . All representation is on a contingency fee basis. Shareholders pay no fees or expenses. About Robbins LLP: Some law firms issuing releases about this matter do not actually litigate securities class actions; Robbins LLP does. A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. Since our inception, we have obtained over $1 billion for shareholders. To be notified if a class action against Acadia Healthcare Company settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today. Attorney Advertising. Past results do not guarantee a similar outcome. A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/d258d2f0-7131-4dcf-8583-fb6d31183719