Finding Real Life Solutions To Your Tax Problem
President Donald Trump signed the recently passed tax reform bill into law earlier today. The bill makes a number of changes to tax law. Two of the main changes include a reduction in the top individual tax rate. This rate is currently set at 39.6 percent and is...
The New Year is less than a month away. There are some important tax steps to take before that first bit of confetti falls. Three of the more general examples include:Donations. Charitable giving is often deductible. Donations made with a credit card are deductible...
The Internal Revenue Service (IRS) has a number of tools to gain payment. A taxpayer that is accused of failing to meet his or her tax obligations could become the victim of one of these tools. Examples include a levy, garnishment, lien, seizure or other collection...
Ringing bells and shiny red buckets are just one of the many opportunities that may result in an increase in charitable donations over the holidays. Monetary contributions to charities can lead to more than just a warm heart, if done wisely they can also lead to a tax...
There are pieces of mail that bring joy and others that bring a bit of fear. Likely one of the most common examples of a letter that would result in concern to the recipient is a letter from the Internal Revenue Service (IRS).Why would the IRS send a letter? There are...
As a business owner, you already understand the importance of building wealth. While many are building wealth through traditional means (i.e. Roth IRAs, 401k plans), most are unfamiliar with the concept of self-directed IRAs. Moreover, they don't know how a...
The offer in compromise is a special avenue presented by the IRS that allows you to pay a part of your delinquent taxes, and be forgiven for the rest.The OIC is a real thing, and it has helped many thousands of besieged taxpayers to get right with the IRS. In recent...
The Internal Revenue Service (IRS) cannot closely review every tax filing. As a result, there are a number of ways the agency determines which filings will warrant a closer review. To help filter out allegedly questionable returns, the agency often uses Compliance...
With December coming next week, the holiday season will be in full swing and businesses of all sizes will be solicited by charitable organizations for donations. The proverbial benefits to making these types of donations are that a needy group will benefit, and the...
The middle of November is not a very popular time to talk about tax refunds; unless, of course, you closely follow politics and are anticipating substantial change through tax reform. Nevertheless, it is still important to think about your tax return during this time...