When you’re dealing with an IRS audit or threatening letters and collections based on outstanding tax liability, it’s easy to feel powerless. What can you do when a federal agency has it out for you? One of the great things about living in the United States is that our government recognizes that people have certain […]
Working for yourself is both rewarding and challenging. You’re in complete control of your business, but it can also be tough to get others to recognize you as a real business. For some people, a limited liability company (LLC) provides a solution. An LLC can offer a bridge between operating as a sole proprietorship and […]
It’s the type of nightmare that could make a person wake up in a cold sweat: you get a letter that says the IRS is going to audit your business, and you haven’t kept any kind of organized records. You’re missing all sorts of documentation and receipts for business expenses. If you’re facing this worst-case […]
You’ve done it! After months of saving, searching, and paperwork, you’ve found the house of your dreams. But as you proceed with the deal, you got a nasty surprise: the current owners didn’t pay their property taxes for several years, resulting in the IRS putting a lien on the house. You are in love with […]
The coronavirus pandemic has impacted our economy, businesses, and lives in unprecedented ways. Many businesses found themselves in an uncertain position as we began to feel the full effects of the shutdown. To try and prevent economic disaster, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act on March 27, 2020. The law […]
Millions of Americans struggle with tax issues every year, from minor debts and unfiled returns to liens, levies, and garnishments. If you’re struggling with an unresolved tax issue, keep reading and learn about several proven tax resolution methods that may be able to solve your problem.
Did you know that family businesses create 78 percent of new U.S. jobs and employ 60 percent of our national workforce? Family businesses are an essential part of our economy, and a family business can be a special thing — in more ways than one. When it comes to taxes, family businesses have some unique […]
Many people are struggling right now, especially those individuals who have lost their jobs due to COVID-19 while also dealing with frustrating back taxes. When it comes to being unemployed and owing back taxes, there’s reason for optimism. While there are some instances where federal tax laws might result in new costs for the unemployed […]
Whether your small business is thriving or going through a rough patch, you always want to maximize your revenue streams while decreasing potential losses. One great way to help ensure positive cash flow is to make sure you’re taking advantage of every available income tax deduction at your disposal, especially as we all attempt to […]
Taxes can be confusing, and errors are bound to happen. If you realize that you made a mistake on your taxes after filing, an amended tax return may right any potential wrongs — helping you avoid potential fees and penalties or even improving the amount of your return in the process. In this blog, we […]
