The tax law is constantly changing. While Congress talks about tax simplification, the complexity of the law continues to escalate. The law has become so complex that even those who specialize in tax … [Read more...] about TAX TRAPS FOR THE UNWARY
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ATTORNEY MAKES INVALID OFFER IN COMPROMISE (OIC) TO IRS
There is value to having a tax professional handle complex tax preparation and tax planning issues. We have heard many a taxpayer who has IRS debt problems say that rather than paying a fee to a … [Read more...] about ATTORNEY MAKES INVALID OFFER IN COMPROMISE (OIC) TO IRS
IRS INCOME TAX TRANSCRIPTS NOW AVAILABLE ON THE INTERNET
If you apply for a loan or wish to re-finance your current mortgage, the lender needs to verify your income. The lender usually does this by having you sign IRS Form 4506-T which allows the lender to … [Read more...] about IRS INCOME TAX TRANSCRIPTS NOW AVAILABLE ON THE INTERNET
TRUTH OR CONSEQUENCES – NOT REGISTERING LLC (OR CORPORATION) IN A STATE
One of the most significant issues facing business owners is whether they need to register to do business (or qualify to do business) in a foreign state (a foreign state merely refers to a state other … [Read more...] about TRUTH OR CONSEQUENCES – NOT REGISTERING LLC (OR CORPORATION) IN A STATE
Tax Planning Strategies for Your Business . . . Repairs & Capitalization of Assets
Hopefully your tax professional made you aware before the end of the 2013 tax year that it was an opportune time to discuss tax preparation and tax planning strategies as to when taxpayers … [Read more...] about Tax Planning Strategies for Your Business . . . Repairs & Capitalization of Assets
IRS ANNOUNCES THAT 2014 STANDARD MILEAGE RATES HAVE DECREASED FROM 2013 RATES
One of the more common tax preparation questions is “How much can I write off for my automobile used for business purposes so that I may maximize my tax planning?” The IRS announced (IRS Notice … [Read more...] about IRS ANNOUNCES THAT 2014 STANDARD MILEAGE RATES HAVE DECREASED FROM 2013 RATES