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theft

Protecting Yourself from Identity Theft

The Internal Revenue Service is just as frustrated with attempts at identity theft as taxpayers are. They’ve joined forces with the states and tax industry to verify the identity of taxpayers and the validity of tax returns through the “Taxes. Security. Together.” campaign. This is one of many ways to protect yourself against fraud.  …

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vehicle

Filing Vehicle Charges on Your Taxes

Writing off your vehicle on your taxes might sounds simple, but like anything else regarding the IRS, there are specifics that must be addressed. If done accurately, itemizing your vehicle expenses can result in a portion of a lease payment being used as a business expense. A portion of costs spent on vehicles that are…

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abatement

Requesting Penalty Abatement

Are your penalties for failing to file a tax return, not paying on time, and/or to depositing taxes when due piling up? Read on to learn how you can reduce or completely eliminate those costs. If such penalties exist on your file, the Internal Revenue Service (IRS) will have already sent you a notice to…

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home office

How to Deduct Home Office Expenses

When it comes to deducting expenses for small business owners who work from home, the Internal Revenue Service (IRS) has two methods for Home Office Deduction: regular and simplified. According to the regular method, you would have to calculate the usage of your home for business as well as personal obligations. The IRS states that…

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IRS Office Offers Virtual Appeal Option

Many Americans are going through the Internal Revenue Service (IRS) Appeals process. Often times the Appeals offices are located far from the Taxpayer’s home. So, the IRS has an option to conduct the conference by telephone. But, this is not the ideal option for those that prefer face-to-face interaction and want to be humanized by…

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How Small Business Owners Can Prepare For Tax Season

As Founder and CEO of your business, you have enough to worry about when trying to make sure all day-to-day tasks are taken care of, but you must also think ahead. Don’t feel sideswiped by tax season … We have a few tips to keep you organized until it’s time to file your business taxes.…

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wage garnishment

Dealing With Wage Garnishment

Garnishment is defined as a legal procedure by which a creditor can collect what a debtor owes. It is usually the result of a court order which initiates the process of deducting money from an employee’s monetary compensation – including salary and wages. Wage garnishment is typically the last resort in collecting debt as it…

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summer-tax-tips

Tax Tips to Get You Through the Summer

The weather is getting warmer, days longer and vacation costs are adding up which means summer is here! While it’s a great time to relax, taxpayers should also make sure they have their expenses under control and take a moment to get organized, in order to avoid tax problems. We’ve listed some common tax problems…

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irs-building

Handling a Letter or Notice from the IRS

The Internal Revenue Service (IRS) offers some great advice on handling a letter or notice from them. The main takeaway is that whether or not you agree with the contents of the letter, you should stay calm and respond in a timely fashion. If you are unsure about where you stand as far as owing…

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taxseason

Deadline to File for Taxpayers Abroad Rapidly Approaches

If you live or work abroad, today (June 15) is the last day to file your federal income tax return for 2016. This includes those with dual citizenship. You can digitally request an extension if you can’t meet the deadline. The extension is granted to those who attach a statement explaining why they should be…

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