We Focus on Your Tax Problems, So You Can Focus On Your Business
A trust gives you control: a will does not. With a basic will, you can direct who will receive your estate after you die. But that’s all. A trust offers you much greater control than a basic will. With a trust, you not only control who gets your money, but when they will receive it and how it will be used.
Dealing with tax debt can be overwhelming. When you find yourself unable to pay your tax debt in full, it might feel like you are stuck between a rock and a hard place. However, the Internal Revenue Service provides a few options to taxpayers in such situations. One...
I recently got a frantic call from a client. The client owed back taxes to the IRS, and the IRS was attempting to levy his bank accounts. As the client had little money in his own accounts, that was not really a problem. The real problem was this: my client’s...
If you are like most Americans, you may dread filling out and filing your taxes every year. This is a complicated process and hundreds or thousands of tax laws change every year. Unfortunately, at some point, you may receive a tax audit notice. This is what you should...
The IRS has iupdated the optional safe harbor method for calculating the basis of individual units in a real property development project to determine the gain or loss from sale of those units.
Tax scammers can create some official-looking letters, so be sceptical and verify the authenticity of your notice before responding.
Tax avoidance is a legal way to limit taxable income. The IRS defines avoidance as any action that mitigates tax liability and increases post-tax income. Evasion, on the other hand, is illegal. You must report any activities that generate income to the IRS. Failure to...
We talk to many clients who come to us after working with another tax resolution firm, only to find - after paying a lot of money - that the firm that took their money didn’t really do much, if anything, to resolve their tax problem. Often the firm that took their...
On July 1, 2022 the IRS business mileage rate is increasing from 58.5 to 62.5 cents per mile, and the medical and moving mileage rate is increasing from 18 to 22 cents per mile.
The IRS can garnish your Social Security benefits and other federal payments to satisfy your tax debt. Because the IRS also takes the position that you have a fixed determinable right to receive future Social Security benefits, the levy will continue until the tax debt is satisfied, and the levy will NOT expire when the collection statute of limitation expires.
