Oh no! It would be best if you had audit advice. You just received a notification in the mail that the IRS will audit you. What now? How do you respond to this, and should you have a heart attack now? While many people lose it as soon as they realize that the IRS will… Continue reading IRS Audit Advice You Can Use
Category: Tax
Can You Fight The IRS?
There comes a time when many Americans must take action against the IRS. The IRS can come down swiftly and without mercy against taxpayers for issues ranging from simple mistakes to genuine tax evasion. When such a situation occurs, usually in the form of an audit and followed by possible federal prosecution, it becomes necessary… Continue reading Can You Fight The IRS?
Tax Issues for Expats
First, tax information about moving overseas is essential because it allows people to budget their finances. When a person moves overseas, the experience would be like beginning a new life. This means every detail, especially finances, needs to be considered. Some people, when they are anticipating expenses, tend to forget taxes. Although people hate paying… Continue reading Tax Issues for Expats
Rental Real Estate Tax Deductions Explained
As a landlord, you will want to ensure you take advantage of all the tax benefits you can receive by owning a property. There are many other deductions than just the obvious ones. Expenses incurred to cancel a lease, reimbursements to renters for expenses they have incurred, and many others exist. Make sure you are… Continue reading Rental Real Estate Tax Deductions Explained
What Is A Capital Gains Tax?
Capital Gains is a federal tax on capital accumulation, investment, and productivity. Some income subject to capital gains tax includes selling an investment, a home, a family business, a farm or ranch, or even a work of art. The capital gains tax is applied to the difference between the price paid for an item and… Continue reading What Is A Capital Gains Tax?
Donating A Car? Things You Should Know
You are probably looking for items you can deduct to reduce your taxable income. Since the laws on what can be claimed vary from state to state and country to country, there is a lot of confusion about what a deduction can be. In the US, the Internal Revenue Service (IRS) has many documents that… Continue reading Donating A Car? Things You Should Know
Checking The Status Of Your IRS Tax Refund Online
More than a few people are happy to learn they are due a tax refund after filling out their tax returns. If you are one of these people, here is how to check the status of your refund online. Checking The Status of Your Tax Refund Online Before checking your refund status, I must mention… Continue reading Checking The Status Of Your IRS Tax Refund Online
Common Employer Payroll Tax Concerns
Let’s face it, taxes are complicated, especially if you own a small business. Read below about tax concerns to avoid some of the most common pitfalls experienced by small business owners today. As your business grows, you will probably need to hire employees. Some of the most common tax concerns involve employee tax issues. When… Continue reading Common Employer Payroll Tax Concerns
Compromising With The IRS?
Few things threaten your well-being, like the harassment and anxiety of persistent tax problems. Most people make three mistakes that get them in trouble with the IRS. They procrastinate. They attempt to represent themselves. They hire sub-par representation and need more help than ever before. A Tax Attorney can provide these services: Offer in Compromise… Continue reading Compromising With The IRS?
Debt Settlement and Income Taxes
Debt settlement has become a popular approach to resolving problem debts without filing bankruptcy. With this approach, creditors agree to accept a portion of what you owe (usually around 50% or less) to settle the account, and the remaining balance is forgiven. This technique will continue to grow in popularity now that the new bankruptcy… Continue reading Debt Settlement and Income Taxes