What Are Back Taxes?
Tax debt can be complicated. But when you want to take back control of your finances, paying overdue tax is a priority. This means paying what are known as “back taxes”. How do back taxes work, though, and how do you know what you owe the IRS? If you have such questions, don’t worry. We’re […]
Read MoreDo You Have Unfiled Tax Returns?
Here’s What To Do. Do You Have Unfiled Tax Returns? Filing your taxes is never a fun thing to do, but if you don’t file them at all then the IRS will come calling. They have unbridled power to file a return on your behalf in theirs, not yours, best interest. They have powerful collection […]
Read MoreA Guide to the Qualified Business Income Deduction
In 2017, there were major changes to tax law. The Tax Cuts and Jobs Act included reductions in tax rates for businesses and individuals, increasing the standard deduction and family tax credits, eliminating personal exemptions, and making it less beneficial to itemize deductions, limiting deductions for state and local income taxes and property taxes. With […]
Read MoreWhat You Can Deduct from IRS, State, and Local Taxes
When filing your taxes there are many ways to reduce your tax bill or ways to get yourself a bigger refund. This can happen using different credits and deductions that are available. This article will discuss different tax deductions that can be used on your tax return to reduce your taxable income. I will start […]
Read MoreA Streamlined Guide to Tax Returns
The tax return season usually causes headaches to many individuals, self-employed and corporations alike. Buzz words like tax returns, Form 1040, Form 1040X, Form 1120S, and Schedule A only come to confuse things some more. This comprehensive guide sheds light to key must-knows so you begin to have a clearer idea of tax preparation, tax […]
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