An OIC (Offer in Compromise) is a payment option that the IRS makes available to taxpayers. It enables you to pay off your tax debt without "going bankrupt" or "breaking...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 12/18/2021
Selling a small business implies income, and income means taxes. But the way you structure your business can make a big difference in how much of the sale price goes towards taxes...
Posted by Pat Raskob on 11/11/2021
Whenever you see a dollar from a lottery win, please remember that the IRS has taken its 25%. Up to 13% can be withheld in local and state taxes (depending on where you live). However,...
Posted by Pat Raskob on 09/30/2021
As a business owner, paying your estimated taxes quarterly assures you that there will be no significant tax bill waiting for you in April.You have to pay taxes, but luckily the Internal...
Posted by Rosovich & Associates, Inc. on 07/16/2021
One of the main advantages of life insurance is that payment to beneficiaries is free. Because life insurance benefits in the event of death can run into the millions of dollars, it's...
Many people think bankruptcy is a cure-all for their debts. In many cases, however, this is not the case. Yes, the money you pay on your tax debt is unique, and you will have to deal...
Posted by Taxes Made EZ Inc on 07/16/2020
There are many ways to resolve taxes that tax professionals can use to help their clients at the state, local, and federal levels. Tax agencies offer a variety of these tax resolution...
Posted by Taxes Made EZ Inc on 06/15/2020
Expenses incurred due to the legal costs of running a profitable business that yields an available income is usually listed as a tax-deductible expense. It's only when the legal...
Even the most responsible business owner can fall behind with taxes. Every year, unforeseen delays, expenses, and other financial hardships keep people from paying their taxes to the...
Posted by CORE PERFORMANCE on 12/27/2021