Smart people plan ahead. A lot of people react to situations instead of being proactive. I say this because a lot of my clients have the opportunity to utilize my tax plans but, don’t. They

COVID-19 has taken a toll on small business owners, as well as self-employed tax payers. Many have found themselves at the end of the rope, and without stimulus money from the government, may be forced

Everyone knows it is best to pay your payroll taxes on time to avoid penalties and interest, however if you find yourself behind paying as soon as possible can assist you in avoiding unwanted additional

Every tax season thousands of truck drivers leave hundreds of thousands of dollars in tax deductions on the table. This is due in large part to inadequate planning and poor bookkeeping. In addition, many tax

Starting a business can be expensive and complex depending on what kind of business you start. A strategic business plan helps you address questions like, what are my capital resources, how will my product or

Every year many tax payers have no idea whether they will owe taxes or not. Often, some tax payers feel that they may owe, but have no idea how much or why? Understanding how to

If you receive a tax bill this summer for outstanding taxes, you are expected to pay that bill in full including any penalties and interest. If you can’t pay the outstanding balance, it is sometimes

Often tax payers find themselves owing the IRS even after they’ve paid taxes throughout the year. This has proven to be very confusing, as well as frustrating for many who already feel they pay way

Often, tax payer run into tax debt issues because they don’t understand filing requirements or how a lack of compliance could prove to be costly due to penalties and interest added to existing liabilities. The

Whether you received a 1099-C or not outstanding debt that’s been cancelled has to be reported as income. The good news is you may qualify for special exceptions, and/or exclusions that could eliminate negative tax

If you’ve received a notice of audit from the IRS, here’s a few things you should know to ensure that your experience is as painless as possible. The last thing you want to do is

If you currently owe the IRS back taxes, now would be a good time to contact a tax professional to determine if you qualify for the IRS fresh start program. Recently, the IRS released information

The Internal Revenue Service recognizes that sometimes, when a joint return is filed, both parties may not be responsible for a resulting tax liability. However, when a tax liability exist, either party can be held

If you have an outstanding balance with the IRS chances are you’ve been entered into the IRS Collection system. The IRS is under a mandate to follow a specific process when attempting to collect past

If you’ve received a notice from the IRS it could mean a myriad of things from a miscalculated credit to notice of intent to take further collection action. Generally, IRS notices have a number in

Recently, the IRS implemented the new tax payer’s bill of rights. This is a great step in helping to eradicate the inherent fear that seems to plague an overwhelming amount of taxpayers. For years, the

In most cases, when you have an IRS tax debt liability, you have a limited amount of options. You can do the obvious, which is paying the full amount you owe, enter into a payment

With the rise in divorce and an increase in the number of people who have past-due tax liabilities, more taxpayers are seeking relief. Knowing the difference between injured spouse and innocent spouse could be very

As the 2014 tax season begins early this year millions of families and businesses alike faced an increase in taxes, but the 113th congress passing of H.R. 5771, Tax Increase Prevention Act of 2014 has

Keeping meticulous records is one of the most important aspects of small business operations. Particularly when it comes to taking deductions for expenses incurred in a business considered to be a hobby by the IRS.