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      May 26, 2018

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Tax Relief in Hawaii

Hawaii MapTax relief is becoming more prevalent in the state of Hawaii, with one of the highest state income tax rates in the nation at 11%. The median income in Hawaii dropped nearly 15% in recent years, to an average of $61,408. Difficult financial times have increased the number of individuals with delinquent taxes and who could benefit from tax relief.

On the other hand, the average federal income tax paid by Hawaiians, $8,519, is below the national average of $11,715. The state did pass a law in 2009 that established a 15-year statute of limitations on delinquent tax payments in most situations.

Even so, Hawaii residents are feeling the overwhelming stress of owing the IRS and state tax authorities, sometimes being threatened with seized assets or garnished wages. Many struggle to make ends meet with rising costs of food and other necessities, medical expenses incurred outside of insurance plans or with high-deductible plans, and many other financial pressures make it harder for the average person to make ends meet from month to month.

Under these circumstances, it can be extremely difficult to set aside any savings for the purpose of paying taxes at some future point, and when state and federal tax bills arrive, some families have to choose between paying the rent, putting food on the table, or paying governmental tax collection agencies. Tax relief companies are often an effective solution to help Hawaiians with their difficult tax problems. These specialists work with their clients? outstanding tax debts and in some cases can significantly reduce their tax debt.

An expert tax relief company can help Hawaii clients in a number of ways, including validation of tax debt, tax return review, and negotiating with the IRS and state tax authorities in order to reduce clients? total tax burden.

 

How the Tax Cut Bill Is Raising Your State Taxes

Because state taxes are often linked to the federal tax code in different ways, changes in the federal tax law have ripple effects that are felt throughout the states. Due to its broad scope, the recently enacted Tax Cuts and Jobs Act (TCJA) will highlight ...

Published:  Wed, 23 May 2018 19:36:00 GMT



State tax revenue jumps by $125M

The panel of experts tasked with projecting state tax collections now calculates that tax revenue for this year will grow by a robust 7.3 percent, which means the state has an extra $125 million on hand to help cope with floods, lava flows and any other ...

Published:  Fri, 25 May 2018 03:05:00 GMT



Richard proposes property, fuel tax cuts to offset GET

Kohala Councilman Tim Richards is attempting something that rarely happens in Hawaii County government - he wants to lower taxes. Measures to be heard Monday by the County Council Finance Committee would lower rates for property tax and fuel tax.

Published:  Sun, 20 May 2018 03:35:00 GMT



Investment property tax for Hawaii schools heads to ballot

Voters this year will have the opportunity to decide if Hawaii should establish a surcharge on investment property to help fund public education HONOLULU (AP) - Voters this year will have the opportunity to decide if Hawaii should establish a surcharge ...

Published:  Tue, 24 Apr 2018 16:54:00 GMT



Trump tax in Hawaii

One of the more visible tax issues that our lawmakers will be thinking about this session is how to adapt the new federal tax law changes, sometimes called the Tax Cuts and Jobs Act and what we have been calling Trump Tax, to Hawaii. Each year, our ...

Published:  Sun, 18 Feb 2018 04:14:00 GMT



Big Island lava-land owners get a tax break, not a buyout

Answer: No, the government does not claim ownership of all land covered by lava; the private property owner retains title even as the land's assessed value plummets to zero, said Lisa Miura, Hawaii County's real property tax administrator. Common ...

Published:  Fri, 18 May 2018 03:27:00 GMT



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