As a retired person you are allowed to earn as much as you are able to earn. However, how much you earn will decide whether you owe taxes or are exempt from taxes. Unless your only source of income is Social Security benefits you will probably pay taxes. Working with a tax...
Whether or not to file taxes is a complicated question. The most important thing is how much you earn during the year. The team at Tax Crisis Institute is here to help you with your tax filing difficulties. We can answer your questions and will help you through your current tax...
Determining whether or not your business should file as an LLC or an S corp can be difficult. First and foremost, it’s important to understand the fundamental differences between the two. Then, you can weigh your options and make an educated decision. Here are some differences...
You made a sound investment in real estate or collectibles and now you’re ready to sell and reap the benefits. Unfortunately, you notice that the return is nowhere near as big as you thought it would be. This is more than likely because of the capital gains tax. Our team here...
Many people are still focused on the 2019 tax year. With the IRS offering an extension due to COVID-19 which gives people until July 15, 2020, to file, thinking about 2020 taxes seems so far off. But it's not too early to start planning for next year. Our team at the Tax Crisis...
Paying your quarterly taxes may seem like a burden you wish you could pawn off to someone else. While no one is ever excited about filing their taxes, projecting your quarterly payments correctly can actually soften your tax burden when tax season rolls around. Our team a the...
Taxes are due on the 15th of April every year. If you pay your taxes late you’ll be subject to a 3% penalty, as well as possible wage garnishment and much more. At Tax Crisis Institute we specialize in helping individuals and families with the complications from unfiled or...
Here at Tax Crisis Institute (TCI) we are here to help you navigate the tax laws of 2019. There’s a lot of changes that have been happening in the world of taxes and with the date of April 15 fast approaching. Tax breaks happen at several intervals. Starting with 12% and going...
Social Security wages are part of the FICA (Federal Insurance Contribution Act) along with Medicare. These taxes are withheld by the employer so that they can pay these taxes to the IRS as required. Both Social Security and Medicare are withheld in this way. If you have any...
California has some of the highest taxes in the entire country, so it’s important to understand what you’re being taxed for. The state’s sales and income taxes are higher than the national average while property tax rates are below the national average. One of our goals at The...