Creating A Company? We Can Help
Not a single day goes by where someone out there thinks they want to start a business with some crazy cool idea that they have. That’s brilliant, but don’t just stop there. Just the thought of starting a business doesn’t matter unless you actually put forth hard thinking and hard work. When you want to […]
Safe your IRS tax debts and penalties by our experts
This month we had several clients successfully granted a fresh start with the Internal Revenue Service (IRS). Over $75,000 in tax debts and penalties have been completely removed. In some cases, we were able to settle with the IRS for less than 10% of the total balance. Isn’t that awesome, we’re utilizing the system and […]
Do You Have A Retirement Plan?
What is an IRA? IRA stands for an individual retirement account. It’s basically a savings account that gives a big tax break for taxpaying individuals to save money for the future. Many people mistake IRAs for investment; it’s technically an investment account you set up. Think of it like a basket that you store your […]
Smart Ways to Spend Your Tax Refund
Local taxpayers seem to forget that their tax refund is money that should have been theirs all along. Unless you already have made your decision on what to do with or how to spend your tax refund, here are some useful tips: 1. Start or increase your emergency fund If you haven’t created one, […]
Common Taxpayer Mistakes to Avoid
Although tax rules and deadlines are not always constant and may change throughout the years, there are several common mistakes by taxpayers that are timeless whether it’s for simple or complex tax returns. Just one simple slip up made on paper or by computer can cost you or delay your refund. Here are some common tax-filing […]
Are You Getting Audited?
What is the Sales Tax Audit? A sales tax audit is an examination executed by a government tax agency to make sure that the proper amount of sales tax has been sent to the proper authority. This taxing agency will gather and evaluate the company’s financial documents to verify that state laws and regulations are […]
Tax Preparation VS Tax Planning
Just as there is a really big difference between Tax Fraud, Tax Avoidance, and Tax Evasion, there is a great distinction between Tax Planning and Tax Preparation. Unfortunately, many individuals have mistaken tax preparation and tax planning as they seem to be used interchangeably. Although they are both very important, they’re two totally different things. Tax planning […]
Have You Overpaid Your Sales Taxes?
REVERSE TAX AUDIT A reverse tax audit is conducted by your CPA or a tax lawyer when it is suspected that sales taxes have been overpaid. In a self-assessing sales tax audit, the taxpayer reviews his or her own records and pays the dues that resulted from the review. In a reverse tax audit, your CPA […]
Tax Fraud vs Tax Evasion vs Tax Avoidance
Tax evasion, tax avoidance, and tax fraud are all words that can be used interchangeably but have different meanings. One of these is legal while the other is not. Individuals and businesses that commit tax fraud and intentionally evade taxes can get into big trouble with the Internal Revenue Service. Individuals and businesses are allowed to […]
Watch Out for IRS Scams
Getting calls, letters, or visits from IRS agents is scary enough for local taxpayers. They automatically associate the IRS with a negative connotation and think they are contacting you for collecting unpaid taxes and/or penalizing you for something. What can be worse than that? Getting calls and letters from fake IRS agents. IRS scams are increasing […]