Unfiled Tax Returns Keeping You Up At Night?
Time to Get Off Your Butt! Have not filed your taxes for the past two, three, four, or more years? It is time to TAKE ACTION NOW! Here are 2 good reasons: (1) you will minimize penalties and interest, and (2) keep the IRS from going into a collection enforcement mode, assuming they have not [...]
Today! Five Reasons to File Past Year Tax Returns
As important as April 15th is, it is equally important to remember that if you miss the deadline, it is still possible to file past year tax returns. In fact, doing so can often being extremely beneficial. Here are a few reasons why filing those old taxes is so important: It can get you a [...]
How Do You Pay A Part-Time or Seasonal Employee? Small Business Tax Questions
Do you own a small business and do the most of the work yourself? But on occasion you find it necessary to hire some help, perhaps on a part-time or seasonal basis. How do you handle these intermittent employees? This article will answer that question. Regardless of how often an employee works for you, you [...]
High Taxes & Handouts: Do They Discourage Work?
The United States needs to rethink its entitlement philosophy. Not only are the trillion dollar deficits and rising entitlement spending unsustainable, but it encourages people to work less. If America wants to be a prosperous nation, it needs to reward hard work, not punish it. The current system, which rewards people for not working and [...]
Time to Start Thinking About Year-End Tax Planning. IRS Releases 2011 Version of Form 6251
The IRS recently released its 2011 version of the Form 6251 – Alternative Minimum Tax – Individuals. With year-end only a few months away, this serves as a timely reminder that anyone stuck in the AMT needs to start thinking about the ways they can reduce this burden. The most effective AMT planning strategies must [...]
Should You Amend Your Tax Return Or File For an Extension?
You may think it’s strange why many taxpayers file tax extensions even though the IRS requires that your tax liability is paid on April 15th. It would seem logical that if you have to pay taxes on April 15th anyway, then why not also file your tax return? You may be shocked at what you [...]
Tax Free & No Repayments! Government Grants For Women Owned Businesses
Small business is the mainstay of the US economy and most survive the ups and downs of the economy. With the advent of modern technology and funding, stay at home moms like you’re not just looking after kids but can easily start a home based business. The numerous free government grants given to women, makes [...]
Home Loan Calculator, Advice, & Background
More and more people who have never owned homes before are starting to look into buying their very own, owing to a trending significant drop in interest rates. But before you go out and look for that dream home you’ve always wanted, you will need to learn a lot about what to expect and the [...]
What Is the Difference Between a W-2 & a 1099-MISC? Small Business Tax Questions
If you own a business and are paying people who perform services for you, it’s critical that you understand the difference between Form W-2 and Form 1099-MISC. Form W-2 is issued to employees at the end of the year. You must give each employee this form by January thirty-one of the following year. It contains [...]
Can You Do It? Discharging Income Taxes in Bankruptcy
Can you get rid of (bankrupt or discharge) tax debts in bankruptcy? The answer is “yes,” depending on the type of taxes and other factors. Bankruptcy tax dischargeability analysis is very tricky and even experienced bankruptcy lawyers can have difficulty accurately determining whether a client’s tax debts qualify. This will be a rather complicated and [...]