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So far Staff has created 28 blog entries.
10Oct

Good News-IRS Announces Business Meals Are Deductible

By |October 10th, 2018|Categories: Tax Deductions|

If you are a business owner who is accustomed to treating clients to sporting events, golf getaways, concerts and the like, you were no doubt disappointed by the part of the tax reform that passed last year that did away with the business-related deductions for entertainment, amusement or recreation expenses.

8Oct

5 Reasons Taxpayers Have IRS Tax Problems

By |October 8th, 2018|Categories: Back Taxes, Tax Debt|

There are many reasons why taxpayers find themselves with tax problems and on rare occasions it is due to criminal intent. However, the majority of tax problem resolution cases we deal with are caused  by some serious event that occurred in the taxpayer’s life.

30Sep

IRS Tax Debt Relief Help

By |September 30th, 2018|Categories: Tax Problem Help, Tax Relief|

We know the story all too well: finances are tight so you either don’t file your tax return, or file the return but don’t pay the balance due.  But you tell yourself not to worry as next year things will get  better. 

12Sep

S Corporations Should Pay Reasonable Compensation To Shareholders

By |September 12th, 2018|Categories: Tax Deductions, Tax Planning|

Unlike a C corporation, which itself pays the tax on its taxable income, an S corporation does not directly pay taxes on its income; instead, its income, losses, deductions, credits and distributions are allocated to its shareholders’ on a pro rata basis.

5Sep

When Should You File An Amended Tax Return?

By |September 5th, 2018|Categories: Statute of Limitations, Tax Returns|

The most recent data from the IRS on individual tax returns indicates that of 131 million returns filed, about 5 million were expected to be amended.

7Jul

Documenting Automobile Mileage For An IRS Audit

By |July 7th, 2018|Categories: IRS Audit, IRS Notices|

Often in an IRS audit, the tax examiner will ask for your mileage log at the beginning of the audit. If you do not have a mileage log, what should you do?

13Jun

Still Haven’t Filed Your Taxes?

By |June 13th, 2018|Categories: Installment Agreement, Penalty Relief, Tax Debt, Tax Penalties|

If you have been procrastinating about filing your 2017 tax return or have unfiled tax returns for prior years,  you need to consider the consequences, such as penalties, interest, and aggressive IRS collection actions.

20Jan

How Long Does The IRS Have To Assess Tax?

By |January 20th, 2018|Categories: IRS Audit, Statute of Limitations|

Taxpayers often want to know how long the IRS has to audit and assess additional tax on their tax returns.  For taxpayers who reported all their income, the IRS has three years from the date of filing the returns to examine them.

14Nov

IRS Expanded Payment Plans Help Resolve Back Taxes

By |November 14th, 2017|Categories: Back Taxes, Installment Agreement, IRS Collections|

The IRS has the authority to enter into payment plans with taxpayers who owe back taxes. In a effort to streamline the processing of these agreements the IRS continues to test expanded criteria for taxpayers requesting installment agreements.

9Nov

What Business Owners Should Know About The Tax Cuts And Jobs Act

By |November 9th, 2017|Categories: Tax Planning, Tax Reform|

This is part 2 of a 2-part series on the proposed Tax Cuts & Jobs Act and generally covers the provisions applying to small businesses and self-employed taxpayers.

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