Each year thousands of us fall into this pattern: we spend and spend, buying the gifts we think our loved ones need for the holidays. Then we find ourselves surrounded by unopened boxes, torn wrapping paper and - you guessed it - panic over how we'll pay off the debt or pay our...
IRS Tax Help
The Top 10 Tax Mistakes Businesses Make
Fіlіng small buѕіnеѕѕ tаxеѕ іѕ аn іmроrtаnt рrосеѕѕ fоr every buѕіnеѕѕ, аlthоugh іt’ѕ еnjоуаblе tо vеrу few. In fасt, ѕоmе flаt-оut drеаd іt. Thе рrоblеm іѕ thаt ѕоmе buѕіnеѕѕ оwnеrѕ thіnk оf tаxеѕ оnlу іn thе wееkѕ leading uр tо thе Aрrіl 15 deadline. But thеrе іѕ a lot mоrе...
Back Taxes and Your Credit Score
A back tax is a tax on one's earned income that has not been paid in the year in which it was due. Back taxes tend to accumulate interest and penalties the longer they aren't paid. Taxpayers can have back tax at the federal, state and/or local levels. Unpaid back taxes can be a...
Back Taxes: Causes and Ways to Fix Them
Bасk tаxеѕ аrе tаxеѕ thаt hаvе bееn раrtіаllу оr fullу unраіd іn thе уеаr thаt thеу wеrе duе. Tаxрауеrѕ саn hаvе unраіd bасk tаxеѕ аt thе fеdеrаl, ѕtаtе аnd/оr lосаl lеvеlѕ. Bасk tаxеѕ ассumulаtе іntеrеѕt аnd реnаltіеѕ оn a rеgulаr bаѕіѕ. It’ѕ іmроrtаnt tо nоtе thаt еvеn tаxеѕ...
Can IRS Penalties Be Abated Because of Addiction?
When a taxpayer files a tax return late or has an unpaid liability, the IRS will assess substantial penalties along with interest on the penalties. If there is “reasonable cause”, penalties and related interest clearly can be abated or removed for physical disability. However,...
Americans Renouncing Citizenship Due to Taxes
In 2013, record numbers of Americans renounced their citizenship in favor of another country for fear of the taxes they may be required to pay. In the 12 years between 1998 and 2010, the average number of Americans that renounced citizenship was around 500 people a year, and it...
What Happens if I Miss the Tax Deadline
Tax day has come and gone, and if you forgot to file, you may be starting to wonder what happens next. Although many people forget to file on time every year, the consequences can be a little worrisome, but with our help, you can certainly overcome them. What to do About Late...
The Do’s and Don’ts of Tax Deductions for Small Businesses
Small business owners often struggle with their taxes when they’re just starting out. There are a lot of laws that you need to educate yourself on, and the last thing you want is an audit from the IRS. The government offers small businesses many tax breaks and...
The Benefits of Using a Tax Attorney
There are many things in this world that can be understood with the simple application of time and effort. However, tax law is not one of them. These incredibly complex regulations can be extremely difficult to comprehend and if you are experiencing trouble with the IRS, you...
How to Save Money during the Holiday Season
As the holidays approach and we prepare ourselves accordingly, we often don’t realize how expensive the month of December can be. Putting up decorations, buying presents, and preparing meals for visiting relatives are all part of the experience, but they can cost quite a lot. ...