Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

This answer was rated:

If interest is not stated in the contract can I charge 2%

If interest is not...

If interest is not stated in the contract can I charge 2% per month on late payements?

Accountant's Assistant: What state are you in? It matters because laws vary by location.

Northern Cape

Accountant's Assistant: Has anything been filed or reported?

No

Accountant's Assistant: Anything else you want the lawyer to know before I connect you?

No thanks, ***** ***** to know if I can charge the 2% per month or only the 9.5% per annum

Show More
Show Less
Ask Your Own Tax Question
Answered in 32 minutes by:
7/18/2017
Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 6,681
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
Verified

Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.

Where there is no prior agreement as to interest, the rate of interest is prescribed by the Prescribed Rate of Interest Act. The interest rate on debts is determined by law and fluctuates. The rate of interest is currently 10.5% per year.

The following link contains excellent information you will find helpful:

http://www.goldbergdevilliers.co.za/news_article.asp?NewsID=234

Please let me know if I can assist you further.

Thank you and best regards,

Barb

Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 6,681
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
Verified
Barbara and 87 other Tax Specialists are ready to help you
Ask your own question now

Thank you for the positive rating of my answer. It is very much appreciated!

Ask Your Own Tax Question
Customer reply replied 1 year ago
Thank you for the info, just what I needed. Have a awesome day. God Bless

My pleasure.

God Bless You as well.

Ask Your Own Tax Question
Was this answer helpful?

How JustAnswer works

step-image
Describe your issueThe assistant will guide you
step-image
Chat 1:1 with a tax professionalLicensed Experts are available 24/7
step-image
100% satisfaction guaranteeGet all the answers you need
Ask Barbara Your Own Question
Barbara
Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 6,681
6,681 Satisfied Customers
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.

Barbara is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,512 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

59 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

15,569 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,655 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

Related Tax Questions
Can you answer question on SA late payment interest charges,
Hi Pearl, can you answer question on SA late payment interest charges … read more
Barbara
Barbara
Enrolled Agent
6,681 satisfied customers
I need someone to elaborate on penalties imposed by the
Hey I need someone to elaborate on penalties imposed by the franchise tax board I was under the understanding that I was going to pay about four a half percent per month in interest which was about 52… read more
Barbara
Barbara
Enrolled Agent
6,681 satisfied customers
I did a bit of independent contract work a few years ago on
I did a bit of independent contract work a few years ago on the side of my full time job. This was in New Mexico which I guess has a Gross Receipts tax. Because I just got an audit in the mail asking … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Need info on fines for doing Real Estate business in CA under
Need info on fines for doing Real Estate business in CA under the status of a NV Corp in '11 & '12. e I simply forgot that I was supposed to file to do business as a foreign corp. I bought 1 house in … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
i need help to figure interest on sales tax return filed late
i need help to figure interest on sales tax return filed late in tn. the interest rate is 7.25%per annum. how do you figure this… read more
Bizhelp
Bizhelp
Certified Public Accountant (CPA)
Bachelor's Degree
638 satisfied customers
My daughter has been on long term disability payments from
My daughter has been on long term disability payments from an insurance company for the last 5 years. She filed 2006 and 2007 federal tax returns but did not file for 2008 and 2009 because the IRS too… read more
Richard
Richard
Tax Attorney
Doctoral Degree
4,512 satisfied customers
My LLC will not have enough money for payroll this friday ----
My LLC will not have enough money for payroll this friday ---- Can I lend it Money from my personal savings. Is this legal with the IRS how do I get my money back once the co. has funds --- how am I s… read more
Richard
Richard
Tax Attorney
Doctoral Degree
4,512 satisfied customers
We owe 5575 for our 2009 Taxes, I thought we filed an extension
We owe 5575 for our 2009 Taxes, I thought we filed an extension to file form, but I cannot find the copy. We are filing the taxes and paying the tax bill at the end of this month, how much in penaltie… read more
Charles Greiner
Charles Greiner
Owner
Bachelor's Degree
2,436 satisfied customers
I have a sticky situation. I was divorced in 2008. However,
I have a sticky situation. I was divorced in 2008. However, we both still have a house in our names. in 2009 in sept. I sign a cotract saying agreeing that my ex wife and her father would take over pa… read more
Wendy Reed
Wendy Reed
Master Tax Advisor Enrolled Agent
Master's Degree
60 satisfied customers
I owe the State NJ Sales Tax Div. $5.00 in back taxes for the
I owe the State NJ Sales Tax Div. $5.00 in back taxes for the year 2001. How much do I owe in penilty? J.E.Cusack… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
What is the IRS penalty for filing late We filed an extension
What is the IRS penalty for filing late? We filed an extension because we know we owe, but we moved out of state and our tax lady did not get out paperwork to us (we STILL haven't gotten it, it's on h… read more
Bizhelp
Bizhelp
Certified Public Accountant (CPA)
Bachelor's Degree
638 satisfied customers
In wisconsin what is the penaly for a late filing for the state
In wisconsin what is the penaly for a late filing for the state 5years ago in relation to money I may owe them because I did file federal but had to pay a fee to IRS for underestimation. I am just ask… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
what is the tax and penalty for some one who hasnt filed ...
what is the tax and penalty for some one who hasnt filed for 2005, 2006 and 2007. He is single with about 35000/yr income. no deductions. state of virginia.… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
tHIS IS THE FIRST TIME i DID NOT FILE MY TAXES BEFORE THE ...
tHIS IS THE FIRST TIME i DID NOT FILE MY TAXES BEFORE THE 4-15-08 dEADLINE. wHAT KIND OF PENALTY WILL i BE FACING. i HAVE QUICKLY ESTIMATED THAT i OWE THE irs $6441.00 THIS YEAR.… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
For the first time in over 20 years, I owe taxes. I ...
For the first time in over 20 years, I owe taxes. I don''t have the money to pay before the deadline, and my taxes are already done; my question is: "Can I file for an extention to pay my taxes online… read more
Dave Z
Dave Z
Self-Employed
Bachelor
418 satisfied customers
I was granted a extension to file taxes. I am going to ...
I was granted a extension to file taxes. I am going to owe money. Can I pay with a credit card? How will I know what the penalty amount is?… read more
MequonCPA
MequonCPA
CPA Firm Owner
Master's Degree
2,165 satisfied customers
I am filing on 2003 state tax. I owe 95 dollars. How
I am filing on 2003 state tax. I owe 95 dollars. How much is the penalty and other charges? keith… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers
I have to pay the federal tax $2,111 and the state tax ...
I have to pay the federal tax $2,111 and the state tax $220.00 My tax man has me paying $528.00 four times a year. MY question is this, Can I send a smaller first payment and nogotiate a different pay… read more
Christopher Phelps
Christopher Phelps
Sole Practitioner
Master Degree
1,180 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x