Calculating Your Federal Income Taxes

Nearly five years ago, I launched a home based business. Before this joyous occasion, my husband calculated our federal income taxes every year. Unfortunately, when I started my business, my husband didn’t feel confident about filling out our federal tax forms anymore. Therefore, the two of us began visiting a friendly accounting firm near us. Two lifelong friends ran this expert establishment. These knowledgeable accountants worked hard to get our taxes filed right the first time. On this blog, I hope you will discover the numerous benefits of hiring a tax professional to prepare your federal income taxes each year. Enjoy!

2019

Need Immediate Tax Advice For Past Returns You Did On Your Own For Your Business? What To Do Now

28 October 2019

Working on your own and from home and running a business requires a lot of financial management, and if you think you are in tax trouble, you want to talk with a tax professional. If you worry that you filed your taxes improperly the last time you filed, and that may be in trouble, you want to get on top of the problem right away. If the IRS has flagged your taxes already and you are being audited, this is another reason to get help fast.
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IRS Troubles: 3 Things You Probably Didn't Know You Could Do

6 June 2019

A letter from the IRS can strike fear in the hearts of many Americans. Before you panic about levies, fines, and frozen assets, call a tax professional. You may be surprised at how easy it is to come to a satisfactory resolution with the IRS. In fact, there are probably solutions to your tax problems that you have never even heard of. Innocent Spouse Tax Relief The innocent spouse tax relief program is just what it sounds like — help for a spouse who had no idea what was erroneously reported or omitted from a tax return.
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Can Your Old Tax Returns Be Audited?

2 May 2019

You file your taxes, the return is accepted, and you even receive your refund in the mail — tax season was a success, right? The answer to this question is not always yes. The reality is that the IRS does have a legal right to audit your tax returns, even after a return is completed. While the general audit guideline is three-years, in certain situations, the IRS can request an audit beyond this timeframe.
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Got A Tax Bite This Year? 5 Steps For Next Year

13 February 2019

Many Americans have discovered that their 2018 income taxes were vastly different than their 2017 taxes — often resulting in significantly lower refunds or even amounts due. If this happened to you, what should you do to ensure that 2019 isn't a repeat? Here are a few steps to take. Consider a Pass-Through Entity. Pass-through entities are small business ventures that don't file separate taxes from the owners. They generally include LLCs, sole proprietorships, and partnerships.
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