Tax season can be a stressful time, especially if you find yourself facing a hefty tax bill that you can’t pay in full. The good news is that the IRS offers solutions to help taxpayers manage their tax debt, including installment agreements and short-term extensions. In this article, we will explore these IRS payment plans… Read More
Filing taxes can be a daunting task for many individuals, but it is a necessary part of managing your personal finances. In this article, we will cover everything you need to know about filing taxes for 2022. Know Your Filing Status Your filing status is an important consideration when filing taxes. There are… Read More
The tax-filing deadline will be here before you know it and pretty soon, you’ll be gathering up your receipts and plugging in numbers. I know you’re hoping for good news, and praying for a big refund in the process. If all goes well you won’t owe anything and you might even be getting back a… Read More
Filing your taxes is never a fun thing to do, but if you don’t file them at all then the IRS will come calling. They have unbridled power to file a return on your behalf in theirs, not yours, best interest. They have powerful collection tools and an unforgiving nature that makes this one… Read More
When you owe money to the IRS, it is hard to think about anything else. While being in debt is never fun, no matter who the creditor is, the IRS enjoys almost unlimited power to collect the money they are due. Unlike your mortgage lender or credit card company, the Internal Revenue Service has… Read More
If you are running a small business, you have one unwanted partner that will dig into your pocket every year, it’s the IRS. The IRS wants to know what you are doing, how much you are earning and most importantly how much you are paying in taxes, and the tax agency is becoming increasingly aggressive… Read More
If you hire an employee for your Schedule C business, you can qualify for several valuable tax credits. Each credit is different, and certain limitations apply to all or most employer tax credits. Remember, tax credits are the best. They beat deductions. Note the difference below (using the 32 percent bracket): A $1,000 deduction for… Read More