There are two ways to decrease your tax liability. The first way is to increase your tax deductions and the second, is to pay attention to tax credits. What are Tax Credits? Tax credits are credits provided by your state or local government to reduce the...
An offer in compromise (OIC) is an agreement between a taxpayer and the Internal Revenue Service (IRS) to settle a taxpayer’s tax liabilities for less than the total amount owed. The taxpayers who can fully pay the liabilities through an installment agreement or...
You want to start your own business because you believe in the “American Dream” and see an opportunity for success and prosperity. Although you may be aware that achieving success in a new business is hard work, you may not know that despite the good ideas...
After you file your taxes process all of your W-2s and 1099-Cs, you feel a sense of relief. That is until you receive correspondence or a notice from the Internal Revenue Service (IRS). Don’t panic because the IRS sends many types of notices and letters....
Small Business changes imposed by the coronavirus have been difficult to endure to say the least. Everything that we knew as “normal” went away and now, we must face the transformation of today’s habits and create a new “normal”. The...
No matter the size of the operation, all forward-thinking business owners employ the services of a Certified Public Accountant (CPA). As a business grows and becomes more profitable, the amount of money handled increases. The intelligent step is to find a CPA to...
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