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The Ultimate Guide to Payroll Systems
Continuing with our series on bookkeeping services, in this post we’re going to introduce and discuss the topic of payroll systems. When you run a business, there are many, many tasks you have to perform in order to keep your business functioning smoothly. Bookkeepers can help you perform certain of these tasks, such […]
Everything You Need To Know About Balance Sheets
Balance Sheet Basics As we’ve discussed in previous articles, a balance sheet is one of the most basic financial statements prepared by bookkeepers. Bookkeepers produce multiple financial statements, but the balance sheet is arguably the most important. Simply put, a balance sheet gives a snapshot of the overall financial condition of a company at a […]
Basic Tax Treatment of Cryptocurrency in IRS Notice 2014-21
Cryptocurrency is Classified as Intangible Personal Property The tax issues of cryptocurrency have been very prominent in the media lately. Slowly but surely, the IRS is catching up with the cryptocurrency world and is beginning to nail down the finer points of cryptocurrency taxation. These days, there are lots of people who have cryptocurrency holdings […]
How Denver Investors and Tech Employees Can Minimize Their Stock Tax Bill
Here at Boxelder Consulting, we’re always searching for ways to help our clients navigate through the tax system successfully. Sometimes, this means that we assist our clients in resolving past tax debt by submitting an offer-in-compromise or installment agreement. Other times, this means alerting our clients to a new or seldom used tax break. In […]
The IRS sent me certified mail to seize my property – now what?
Last Updated: February 24, 2022 As we saw in our previous post, the IRS is willing to make a deal when it comes to collecting its debts. The IRS gives taxpayers multiple ways to take care of their tax debt and rebuild their financial lives. Unfortunately, not every taxpayer takes the initiative to contact the IRS and […]
How much will the IRS settle for? Key facts about IRS Settlements and Offers in Compromise
If you find yourself grappling with a tax deficiency at the end of a given tax year, the first thing you should do is avoid panicking. You have options to choose from to deal with this problem. The IRS is serious when it comes to collecting its debts, but they are willing to make a deal if […]
What the Government Shutdown Means for Taxpayers with IRS Debt
Do you hear what I hear? It’s not the sound of Santa’s sleigh or sweet carolers singing. Instead, this holiday season has ushered in the year’s third government shutdown and, as the saying goes, all through the House, not a creature was stirring, not even a mouse. Since the IRS is a bureau of the […]
Can the IRS Take My Passport if I Owe Taxes?
The FAST Act If you or a loved one are among the hundreds of thousands of American taxpayers deemed to owe “seriously delinquent” tax debt, it is important to be conscious of the risks you are facing. Due to the Fixing America’s Surface Transportation (FAST) act, your passport may now be revoked if you’re liable […]
“I’d run into a burning building, but I couldn’t bring myself to open mail from the IRS”
I spoke to a prospective client today that’s a firefighter in California. He told me his story about getting mail from the IRS and it stuck with me all day. I always knew how difficult it could be to deal with IRS debt, but it was the way this firefighter put it so succinctly – […]