Offer in Compromise FAQs
We’re all responsible for paying our fair share of taxes each year. But what happens when the amount that you owe is simply out of reach? What happens if you failed to make payments in a timely manner and your financial…
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The process of starting a small business can be an arduous one; there are numerous steps that need to be taken — and often in a precise order — to legally establish a business. As a result, the process can be overwhelming. Unfortunately,…
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The Health Savings Account (HSA) is one of the most misunderstood and underused benefits in the Internal Revenue Code. Congress created HSAs as a way for individuals with high-deductible health plans (HDHPs) to save for medical expenses that…
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Section 107 of the Internal Revenue Code provides that a minister of the gospel’s gross income doesn’t include the rental value of a home (parsonage) provided; if the home itself isn’t provided, a rental allowance paid as part of compensation…
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Years ago, to prevent parents from transferring their investment accounts into their children’s name to avoid taxes, Congress created what is referred to as the kiddie tax. This counteracted the strategy of taking income from the parents’…
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Gift taxes were created to prevent wealthy taxpayers from transferring their estates to their beneficiaries via gifts and thus avoid estate taxes when they pass away. But that does not mean only wealthy taxpayers need to be concerned with the…
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Taxes are similar to vehicles, in that they sometimes need a check-up to make sure they are performing as expected. That is especially true for 2018, with all of the changes brought about by tax reform.
One area of major concern is the…
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Prior to the passage of tax reform, individuals who moved as the result of a job change or job relocation could deduct their unreimbursed moving expenses if the driving distance from their home to the new job location was at least 50 miles more…
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A frequent question is whether inheritances are taxable. This is a frequently misunderstood question related to taxation and can be complicated. When someone passes away, all of their assets will be subject to inheritance taxation, and whatever…
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5 QuickBooks Online Reports You Should Run Regularly
There are numerous QuickBooks Online reports that you should be consulting at regular intervals. But you need these five at least every week.
QuickBooks Online’s Dashboard, the first…
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Offer in Compromise
Tax Tips, Taxes10 Mistakes Most Small Business Owners Miss When Starting Out
Business, Business Development, Corporate, Education, Entrepeneurship, Finance, GrowthHealth Savings Accounts Fill Multiple Tax Needs
Health Savings AccountsClergy Tax Benefits Under Fire
2018 Tax Laws, TaxesBig Changes to the Kiddie Tax
2018 Tax Laws, TaxesTaxpayers Find Gift Tax Reporting Confusing
2018 Tax Laws, Gift Tax, Tax Tips, TaxesA Mid-Year Tax Checkup May Be Appropriate
TaxesMoving Deductions are Kaput
TaxesIs an Inheritance Taxable?
Inheritance, Tax Tips, Taxes5 QuickBooks Online Reports You Should Run Regularly
Accounting, Small Business