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East Coast Tax Consulting Blog

22Jan

Federal Tax Levy: What is the Difference Between a Regular and Continuing Levy

By |January 22nd, 2020|Categories: Tax Levy, Tax Problem Help|

A federal tax levy is the seizure of a taxpayer’s property used by the IRS to resolve a back tax debt. However, before the IRS is permitted to levy a taxpayer’s assets the taxpayer must be sent written notice and the right to a Collection Due Process hearing.

15Jan

A Solo 401K Could Be The Best Retirement Plan For You

By |January 15th, 2020|Categories: Retirement Plans, Tax Deductions, Tax Planning|

Have you been like so many other taxpayers and procrastinated about setting up a retirement plan for your small business? Here’s why you shouldn’t wait any longer. You are paying income taxes that could easily be avoided.

8Jan

Understanding the IRS Partnership Audit Rules

By |January 8th, 2020|Categories: IRS Audit|

When filing your 2019 partnership tax return you need to remember that IRS procedures for auditing partnerships changed in 2018.

The new audit rules can result in a partnership-level tax of 37 percent.

6Jan

Are Assisted Living and Nursing Home Expenses Tax Deductible?

By |January 6th, 2020|Categories: Medical expenses, Tax Deductions|

With the median cost for an assisted living facility close to $50,000 and over $100,000 for nursing home care, it would be helpful to find a way to reduce the financial burden of these costs.

Well, if you are able to deduct these expenses on your tax return, you’d substantially reduce your income taxes, maybe down to zero.

2Jan

The SECURE Act Provides Retirement Changes You Should Know

By |January 2nd, 2020|Categories: Retirement Plans, Tax Planning, Tax Reform|

As has become usual practice, Congress passed some meaningful tax legislation as it recessed for the holidays.

The Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) made many changes to how you save money for your retirement, how you use your money in retirement, and how you can better use your Section 529 plans.

15Dec

Make Your RMD Tax-Free With A Qualified Charitable Distribution

By |December 15th, 2019|Categories: Tax Planning, Tax Tips|

Once you turn age 70 1/2, tax law mandates that you withdraw a required minimum distribution (RMD) from your traditional IRA.

But by using the RMD or other IRA distribution with a qualified charitable distribution (QCD), you can eliminate the taxes associated with your RMD.

4Nov

Should You Request an Identity Protection PIN From the IRS?

By |November 4th, 2019|Categories: Tax Problem Help, Tax Returns|

With the passage of the Taxpayer First Act in mid-2019, the Treasury Department (i.e., the IRS) is required to establish a program to issue an IRS identity protection pin (IP PIN) to any U.S. resident who requests one.

28Aug

Beware of Fake IRS Letters

By |August 28th, 2019|Categories: Tax Scams|

Every year, the majority of taxpayers file their returns with the IRS between by the April due date. However, the IRS does not just take taxpayers’ word regarding the information on their returns.

17Jul

Don’t Let Payroll Tax Problems Spiral Out Of Control

By |July 17th, 2019|Categories: Back Taxes, Payroll Taxes|

Considering how many priorities, problems, and distractions a business owner deals with every day, it should come as no surprise that IRS payroll tax issues may arise. Whether you filed your payroll returns late or failed to make payroll tax deposits, unresolved business tax problems can become major legal and financial issues if not handled properly.

10Jul

South Florida Tax Resolution Services

By |July 10th, 2019|Categories: Back Taxes, Tax Problem Help, Tax Resolution Strategy|

When you’re struggling with tax issues and need urgent tax resolution assistance, East Coast Tax Consulting Group is your answer. From helping you with unfiled tax returns to negotiating back tax settlements to providing IRS audit defense, our skilled CPAs have your back when it truly matters.

Trusted and experienced tax representation you can rely on. Call for a Free Consultation

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