The Entrepreneur’s Guide to Taxes
Entrepreneurs: What You Need To Know About Taxes (Sports Edition) Being an entrepreneur is an inherently risky (high risk, high reward) and stressful professional path; the financial stakes are often very high and it can require longer than usual hours and effort to be successful. Add in a lack of familiarity with business taxes and […]
How to Budget for a Small Business
How to Effectively Budget for Your Small Business Congratulations! You have either started or taken over a small business, not a simple task in its own right. Now what? You want to ensure the future success of your new endeavor, and one of the key components is a well thought out and complete budget. Why […]
How the IRS Seized Millions From Small Businesses: Equitable Sharing or Extortion?
Estimated Reading Time: 8 Minutes If you’re a small business owner, following the rules won’t necessarily stop the IRS from seizing your bank account. Under loose allegations of business owners making evasive deposits, the IRS has taken millions from small business owners. How they did it will shock you Federal law allows the IRS to […]
How to Respond to an IRS Notice Letter (or IRS Notice of Deficiency)
Estimated reading time: 4 minutes. You have received an IRS Notice letter in the mail. On its front are stamped the letters “IRS.” The pit of your stomach drops and this once innocuous envelope now holds your full attention. What do you do next? Open Your IRS Letter First, open it. It may not be […]
Why LeBron Gets a Social Security Tax Break
The following article is from bankrate.com ” LeBron James is not only one of the world’s best and most famous basketball players. He seems to always find his way into tax conversations. When he left his hometown Cleveland Cavaliers in 2010 to join the Miami Heat, many speculated that Florida’s lack of an income tax was a […]
You Met the Tax Filing Deadline, Now What Are The Chances You Will Face An IRS Audit?
Update: For recent information abotu IRS audits view IRS Statute of Limitations:How Far Back Can the IRS Audit You? The following article is from Forbes Magazine ” After much worry and angst you successfully met the filing deadline for your tax return. Now you are obsessing about a new worry: Will that return be audited by […]
Choosing the Right Business Structure When Starting a Business
Estimated Reading Time: 5 Minutes So you have decided to start a new business. You have your business plan and have arranged for the necessary financing. The next critical step that a business owner needs to take is to select the type of entity to use to operate the business. Choosing Your Business Structure There are […]
What You Need to Know When Seeking a Tax Lawyer & Reliable Tax Resolution Firm
Estimated reading time: 4 minutes Clearing The Air: Why Some Tax Resolution Firms Have Bad Reputations Some tax resolution firms have bad reputations because they are known for preying upon taxpayers facing IRS collection action. Many of these malicious firms have earned their bad reputations because they purchase the contact information of delinquent taxpayers […]