As businesses hire temporary employees (or agencies) to complete end-of-year work, it is critically important for such workers to be properly classified. Classification mistakes can lead to host of taxes and penalties.Knowing the difference between employees and...
Finding Real Life Solutions To Your Tax Problem
Year: 2017
Year end tax planning tips
While many of our readers are preparing for office Halloween parties, it may be easy to lose sight of the fact that the end of the year will be coming soon. Indeed, 2018 may still be two months away, but with all the celebrations and time off that comes with the...
How to hold on to profits after selling your home
One of the largest purchases a person will make in life is their home. It also follows that the largest sale a person may make is the sale of their home after it is paid off (or it increases in value). However, some people facing the prospect of a windfall from a real...
How business owners can prepare for IRS audits
As a business owner, you may probably cringe at the sight of a plain brown envelope marked with the Internal Revenue Service’s address, also marked with the phrase “official government business.” If you have received this envelope, chances are that...
Natural disasters and taxes (for businesses)
2017 has been a difficult year for many Americans. With multiple hurricanes striking coastal areas and fires rampaging in California, there is significant loss and a heavy burden to recover from the storms.When a natural disaster strikes, it can take everything or it...
What are tax appeals and can they help me?
Many businesses that have had an adverse experience with the IRS may wonder whether there is anything that can be done to verify whether their tax bill is actually correct. They may have questions about the IRS’ calculations and may want to challenge them. To do...
Are more people failing to report income from part-time jobs?
In today’s economy, part time jobs (affectionately called side hustles) are just as common as Twitter followers for pop stars. Whether it is to save up for a trip of a lifetime or to pay off credit card debt, more Americans, particularly millenials, are...
Mistakes that could lead to an audit
Despite what may be believed in some circles, there is nothing inherently sinister about tax compliance audits. Indeed, being audited can be compared to a root canal or a colonoscopy, but it is supposed to be the federal government's way of ensuring that everyone is...
Congress to modify IRS asset seizure laws
Tax reform appears poised to be the number one topic of debate this fall in Congress, but before the debates begin, the House of Representatives recently approved a bill that would curtail, in part, the IRS’ power to seize personal property.The new measure stems...
Key tips for National Preparedness Month
The recent natural disasters in Texas and Florida are unfortunate reminders of why we should take National Preparedness Month Seriously. Indeed, Southern California is not likely to be affected by a hurricane, but earthquakes and wildfires remain real dangers. As part...