Yes. he IRS, tasked with collecting taxes and enforcing tax laws, has turned to private debt collectors to assist with certain tax debts. This move has stirred debate, with some questioning the IRS's intentions. Let's dive deeper into the two main reasons the IRS cites for...
If you find yourself owing the Internal Revenue Service more than $50,000, it becomes crucial to proactively safeguard your personal interests before the IRS initiates enforced collection measures. Facing forced IRS collection can be daunting, including actions such as seizing...
There is no corporate income tax in Nevada. However, there is a gross receipts tax on your consulting services and a few other tax obligations that business owners need to understand. As a consultant working in Nevada, it's important to be aware of the state's tax laws. Knowing...
Winning a car will be taxed at fair market value, usually around 30%. So if you win a $45,000 car, you'll likely owe approximately $15,000 in taxes. Those taxes don’t include maintenance, insurance, or the initial costs of getting the car set up with the DMV, like tags and...
Tax time is quickly approaching. Understanding tax law and correct tax filing can be a difficult mental and legal maze to navigate. Tax brackets and tax rates are not the same thing. Income levels, or tax brackets, are used to determine tax rates and most people will be taxed...
So How Long Do Tax Liens Stay On Your Credit Report? Good news – tax liens are no longer part of credit reports. Tax liens used to be appear on your credit reports, but in 2017, all 3 credit reporting agencies implemented changes to eliminate civil judgment records (that a...
Each new tax year, there are changes that affect you as a taxpayer. Sometimes, the advantages that you use to enjoy get scrapped off. In other times, new rules are introduced which may either lower or increase your tax bill. So, it’s up to you to ensure that you are brought up...
The paying taxes is a necessity in every society. However, people do find ways to evade this money that they are mandated to pay to the government because of reasons are best known to them. These reasons are negligible compared to the risks of either not paying taxes or paying...
Nоw thаt tаx rеfоrm has раѕѕеd, іt'ѕ tіmе tо dо what ѕmаrt buѕіnеѕѕ оwnеrѕ аnd mаnаgеrѕ dо: рut аѕіdе thе роlіtісѕ аnd mаkе thе mоѕt оf thе орроrtunіtу. Wе аrе rеѕроnѕіblе fоr grоwіng оur соmраnіеѕ аnd nаvіgаtіng оur buѕіnеѕѕеѕ tо tаkе аdvаntаgе оf whаtеvеr lеgіѕlаtіоn соmеѕ...
There’s a lot of information floating around about taxes: some of it true, some of it false; some of it beneficial, some of it could land you in prison. Here are 5 tax myths that, if you believe them, could give you a whole lot of trouble. Myth #1: I make too little money to...