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IRS to Reject 2018 Tax Returns Without Health Insurance Disclosure
The IRS stated last week that it will not accept electronically filed tax returns in 2018 if taxpayers do not disclose information about their healthcare coverage. Specifically, they’re interested in knowing whether or not you have it. This comes as the Internal Revenue Service begins to prepare for the enforcement of the individual mandate provision […]
The IRS Seized Nearly $60,000 from an Innocent Man for Not Depositing Enough Money to His Bank Account
Estimated Reading Time: 5 Minutes The IRS and the overall government has a wide set of rules, guidelines and laws in place when it comes to banking; a lot of this is an attempt to curb criminal activity such as terrorism, drug dealing and trafficking. In an attempt to catch these types of activities, the […]
Boxelder Consulting Sponsors Five Runners from Flint, Michigan in Denver Rock ‘n Roll Half Marathon
October 15, 2017 Denver, Colorado Boxelder Consulting, a Denver based tax resolution and accounting firm, sponsored five runners in the Denver Rock ‘n Roll Half Marathon on Sunday, October 15th. A unique aspect of this sponsorship is that this event brought three former Flint, Michigan, the University of Michigan and Western Michigan University athletes back […]
Proposed Republican Tax Plan: How it Affects You
Republicans Move Forward on Tax Reform The federal tax plan being proposed by the GOP is out now. There are some significant changes being proposed and they will affect all income levels differently. The biggest thing to note are the proposed tax breaks, through deductions and tax credits; these change how much a person owes […]
Tax Deductions You May Not Know About
What is a tax deduction exactly? Simply, tax deductions lower your taxable income; this plays to your favor as the lower your taxable income is, the more cash you get to keep in your pocket when you go to pay taxes. There are deductions for all sorts of things; here are 8 tax deductions you […]
IRS Doing its Part: Tax Relief to Hurricane Victims
In the wake of tragedy, our nation always manages to come together to help those in needs. Everyone from rock stars, sports stars, movie stars, politicians, have pledged relief to those affected. Now, the IRS is doing their part to provide relief to those affected by this tragedy. The IRS announced on Tuesday that victims […]
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 […]
Dirty Dozen List of Tax Related Scams
Each year the IRS publishes a “Dirty Dozen” list of tax-related scams. Here’s the list for 2015. Update 2/20/2017: For recent tax-related scams view Someone’s claiming I owe money to the IRS. Is this legit? Phone scams: Con artists impersonating IRS employees may call you, demanding money or promising a refund if you “confirm” your social security number. Remember […]
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 […]