Help for Your Tax Problems
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services
- June 15, 2021
A Guide to Where Tax Money Goes
Every time you receive a paycheck, I am sure you see a nice portion of it being taken by the federal & state governments. If you do not have that money withheld on a paycheck you really notice when tax time comes, and you owe a good amount of money to the IRS. We all […]
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- June 14, 2021
Small Business Tax Planning
When starting a new business there are many things that need to be learned to run your business correctly. One thing that you will learn quickly is that filing taxes for a business is much more complex than filing taxes for an individual. As a tax professional, I would always recommend hiring a tax professional […]
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- June 11, 2021
IRA vs 401K: Determining Which One Suits You
Some may feel they are too young to start thinking about retirement accounts and some may feel it is too late to get one going. It is never too late and if you are in the labor force earning income then you are not too young to start planning for your retirement. There are many […]
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- June 10, 2021
An Introduction to IRS Garnishment
If you owe back taxes to the IRS, the government can garnish your wages to pay the liability. An IRS garnishment can come without warning, so being prepared is a must. No one wants to owe money to the government, especially if it’s a large amount. But it happens more than you think. Unfortunately, due […]
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- June 9, 2021
Offer in Compromise: Is It Right for You?
Everybody out there has heard an advertisement on the radio while driving or on TV late at night for the IRS programs where you can settle for pennies on the dollar or get forgiveness of your tax liability. The program that they are referring to is called the Offer in Compromise. This is a program […]
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- June 8, 2021
An Introduction to the American Jobs Plan
In a previous article, we discussed the Child Tax Credit and the major enhancements to that credit through the American Rescue Plan. This plan not only provided funding for this credit it also laid out the spending of all together $1.9 Trillion towards the recovery of America. Today I am going to discuss the next […]
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- June 7, 2021
A Guide to Tax Credit for First-Time Homebuyers
During President Joe Biden’s campaign, he had made promises about bringing back incentives and credits to help first-time homebuyers. At a time when interest rates are at an all-time low, there may be some help coming through Congress for those wanting to buy their first home. Rep Earl Blumenauer and Rep Jimmy Pancetta announced sponsorship […]
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- June 4, 2021
Choosing Between a C-Corp and an S-Corp
When it comes to individuals looking to take the leap of faith into the world of entrepreneurship, they inevitably come across the decision of how to structure their business. Many entrepreneurs have a strong background in their given trade or service but rarely do they understand the tax implications of the decisions that they make. […]
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- June 3, 2021
Gambling Winnings: Should You Report Them?
One of the biggest issues I come across with my clients is unreported income. A major form of income that is left off tax filings is gambling winnings. Be it purposefully or just sometimes people forget and do not receive the form from the casino reporting this income. It can turn into major tax liabilities. […]
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- June 2, 2021
Child Tax Credit: How It’s Beneficial and Who Benefits from It
With the current economic situation, there have been many different programs added and changes made to existing benefits to help provide for families. One major change was to the Child Tax Credit. With the most recent $1.9 million American Rescue Plan presented by President Joe Biden, this credit has been temporarily increased for the 2021 […]
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