Tax Preparer
Flushing New York 11379
| The TaxAdvocate Group, is a full-service tax and accounting firm. We offer solutions to your tax, accounting, and payroll needs at very reasonable fees. The TaxAdvocate Group is a small firm dedicated exclusively to taxation and accounting for small businesses and individuals. We have been based in New York City for over 20 years. Our small size, education, and stability allow us to deliver the personalized attention and expertise to help you achieve your business and personal goals. We are big enough to serve you, and small enough to know you. We offer a full range of accounting services including bookkeeping, write-up, and full service payroll. We can also help you with any tax problems, including: Liens, Levies, Offers in Compromise, Payroll Tax problems, Audits, Penalty Abatement, Tax Bankruptcy advice, Innocent Spouse protection, and filling delinquent tax returns. We are Enrolled Agents who specialize in tax problem resolutions and have been representing clients in front of the IRS and state tax authorities for over 20 years. Tax problem resolution is what we do. |
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Reasonable cause is based on objective facts and circumstances. What constitutes "reasonable cause" under code section 6651 to avoid penalties for failure to file an...
Posted by The TaxAdvocate Group, LLC on 04/06/2021
The presence of business equipment and supplies gotten for tax purposes might make things a little complicated when it comes to filing a business tax return. These two business purchases...
Posted by The TaxAdvocate Group, LLC on 03/31/2021
The Tax Cuts and Jobs Act, or TCJA, was expected to simplify tax filing and reduce tax bills for millions of American workers. However, according to new data from the IRS (Internal...
Posted by The TaxAdvocate Group, LLC on 03/26/2021
The premium tax credit is a refundable tax credit that reduces the monthly premiums for plans in the health insurance market. The figure of the premium tax credit depends on household...
Posted by The TaxAdvocate Group, LLC on 03/17/2021
Have you ever found money in a jacket or pants that you haven't worn in a while? Isn't that awesome? The amount of money you don't know you have can help you with a future...
Posted by The TaxAdvocate Group, LLC on 03/05/2021
The VCSP (voluntary classification settlement program) is a program developed by the IRS that allows taxpayers to voluntarily reclassify their employees as employees in future tax...
Posted by The TaxAdvocate Group, LLC on 02/28/2021
What is Form 1040-SR: Tax Return for U.S Seniors?If you are 65 or older (or turned 65 in 2020 or after), you will have the option of using a new, simple tax form for seniors, known...
Posted by The TaxAdvocate Group, LLC on 02/23/2021
The IRS does not require couples to file joint tax returns for the simple fact that they are married. Spouses have the option of filing separate marriage declarations, and some do...
Posted by The TaxAdvocate Group, LLC on 02/17/2021
In making some taxable gifts above a certain threshold, one will be subjected to a federal gift and estate tax. For the 2020 tax year, an individual can give away $11.59 million during...
Posted by The TaxAdvocate Group, LLC on 02/09/2021
In the previous years, people who paid for college qualify for the lifetime learning Credit, American Opportunity Credit, or the tuition deduction. The most valuable of these is the...
Posted by The TaxAdvocate Group, LLC on 01/30/2021
The United States has a federal system for all taxpayers, but state rules vary widely.The United States has a multi-tiered tax system under which federal, state, and sometimes local...
Posted by The TaxAdvocate Group, LLC on 01/26/2021
Small Office Home Office (SOHO), a term used to distinguish between small, medium, and large businesses. Technically, SOHO companies have between zero and ten employees, although many...
Posted by The TaxAdvocate Group, LLC on 01/17/2021
Everyone with estate or trust will have an income, which will reflect on Form 1041 - United States Income Tax Return for Estates and Trusts. Beneficiaries of trust and estate that...
Posted by The TaxAdvocate Group, LLC on 01/07/2021
We define backup withholding as a form of federal tax withholding on income that wouldn't usually require tax withholding. While some forms of income are not subjected to taxes,...
Posted by The TaxAdvocate Group, LLC on 12/31/2020
2021 is right around the corner, but there is still a short time to lower your 2020 tax bill, increase your savings, help your community, and secure your financial future in the process....
Posted by The TaxAdvocate Group, LLC on 12/25/2020
There are many tax benefits available to the military, including tax deductions, exclusions from battle payments, extended deadlines, and other benefits. If you are in the U.S. military,...
Posted by The TaxAdvocate Group, LLC on 12/20/2020
Every year, many self-employed citizens and part-time workers feel they might not have to pay tax on their earnings. However, there is no specific rule that specifies the minimum one...
Posted by The TaxAdvocate Group, LLC on 12/15/2020
Many forms of retirement benefits like annuities and pensions are reported on Form 1099-R. As long as you get a $10 or more distribution on your retirement plan, you will get copies...
Posted by The TaxAdvocate Group, LLC on 11/30/2020
All the cost you incur while on a business trip away from home qualifies you for an impressive business expense deduction. There are, however, a lot of rules you must follow, or you...
Posted by The TaxAdvocate Group, LLC on 11/24/2020
Even though the TCJA of 2017 hit several small businesses, a couple of these businesses enjoyed relief. While many enterprises want rate change and extra deductions, wine producers,...
Posted by The TaxAdvocate Group, LLC on 11/16/2020
The 1031 Exchange, alias Like-Kind Exchange or Starker Exchange, is a powerful tax deferral strategy used by some of the most successful real estate financial investors. This may be...
Posted by The TaxAdvocate Group, LLC on 11/04/2020
There are many reasons you may wish to close your business. At The TaxAdvocate Group, LLC., you can get the help you need to tie up all loose ends and close up shop, properly. ...
Posted by The TaxAdvocate Group, LLC on 10/27/2020
Individuals and businesses with unpaid tax balances may face severe penalties from the Federal Revenue Service (IRS), including possible forfeiture of personal or business property...
Posted by The TaxAdvocate Group, LLC on 10/21/2020
When an employee is called to the jury, it can be a burden on your business. It may be necessary to readjust just to cover the employee's absence. In some instances, the creation...
Posted by The TaxAdvocate Group, LLC on 10/14/2020
People with a traditional 401(K) need to pay taxes on their distribution – the ordinary income tax. What you pay is a factor of your tax bracket and age as people below 59½...
Posted by The TaxAdvocate Group, LLC on 10/01/2020
With the spread of the coronavirus, a lot of jobs have been affected. As a result, it might be pretty difficult for everyone to keep up with their bills. This is especially true of...
Posted by The TaxAdvocate Group, LLC on 09/24/2020
The dividend is one of the primary ways in which companies communicate their financial health and shareholder value. By distributing the profits, companies are announcing a positive...
Posted by The TaxAdvocate Group, LLC on 09/18/2020
Some people hire household employees like maids, babysitters, gardeners, caretakers, janitors, cooks, butlers. These are household employees that perform domestic service around the...
Posted by The TaxAdvocate Group, LLC on 09/09/2020
We explain the original issue discount as the discount in price from the face value of a bond at the time it was first issued. Bonds can be issued at a price lower compared to their...
Posted by The TaxAdvocate Group, LLC on 08/28/2020
Scammers are everywhere haunting for your tax refunds. They have different tactics to rob unsuspecting victims of their hard-earned money. There are many helpful ways you can prevent...
Posted by The TaxAdvocate Group, LLC on 08/24/2020
The American gaming industry is booming. New sports casinos and bookies are popping up across the country, Las Vegas is booming, lotteries are popular, and online gambling is great....
Posted by The TaxAdvocate Group, LLC on 08/13/2020
One way to reduce your taxable income and lower your tax bill is to donate to qualified charities. This involves itemizing deduction to qualify to claim it. The only condition where...
Posted by The TaxAdvocate Group, LLC on 08/07/2020
The COVID-19 epidemic has prompted many small businesses to close their doors, but there will come a day when it may reopen (as is happening now). Local jurisdictions and the federal...
Posted by The TaxAdvocate Group, LLC on 07/23/2020
We all have big plans for our tax refunds. It is one of the few things many Americans look forward to. Out of excitement, many people check their mailbox and bank account daily in...
Posted by The TaxAdvocate Group, LLC on 07/16/2020
Do you have teenagers? Do you want them to learn the proper way of handling money?Teaching finances to your teen is significant at their young age for them to prepare for financial...
Posted by The TaxAdvocate Group, LLC on 07/16/2020
In terms of taxes, is it more advantageous to get married or to be alone? As far as the Internal Revenue Service is concerned, your income and your position can determine whether a...
Posted by The TaxAdvocate Group, LLC on 07/09/2020
In a bid to help Americans weather the COVID-19 pandemic, the IRS will soon start distributing checks to people. Everyone should, however, be on the watch out for con artist. There...
Posted by The TaxAdvocate Group, LLC on 06/22/2020
Everyone is affected by the Coronavirus pandemic. Retirees on a fixed income will feel the effect even more. Retirement accounts no longer hold the same value, and the interest on...
Posted by The TaxAdvocate Group, LLC on 06/22/2020
People are considering alternative assets and investments to secure their future. If you have a self-directed IRA, ordinarily saving money cannot help you get the best. It is essential...
Posted by The TaxAdvocate Group, LLC on 06/10/2020
The choice of many (whether standard deduction or itemizing) is usually a factor of which will provide a better financial benefit. In the following years, however, it can be challenging...
Posted by The TaxAdvocate Group, LLC on 06/10/2020
For you to get a debt consolidation with bad credit, you have to shop around. There are, however, options like online lenders and loans from credit unions. Some lenders will take care...
Posted by The TaxAdvocate Group, LLC on 05/17/2020
A couple of months back, the IRS announced an extension for the tax deadline. Hence, all taxpayers have till July 15, 2020, to file and pay their tax, as opposed to the April 15 original...
Posted by The TaxAdvocate Group, LLC on 05/17/2020
You might have recently a friend, an acquaintance, or someone you know who has just blown his or her large inheritance. You may have also seen someone who became a lottery winner after...
Posted by The TaxAdvocate Group, LLC on 04/27/2020
It’s normal for all of us to want to lower our tax bill but some people go overboard. There have been so many taxpayers over the years who argued they qualify for a certain tax...
Posted by The TaxAdvocate Group, LLC on 04/27/2020
One of the consequences of the late payment of the federal student loan is that a tax refund cannot be obtained. And if you are married, it can affect your spouse. However, if you...
Posted by The TaxAdvocate Group, LLC on 04/20/2020
When you expect a large tax refund from the IRS, you certainly want it as soon as possible. There are several ways to speed up repayment: send your Return electronically, request a...
Posted by The TaxAdvocate Group, LLC on 04/20/2020
Owners of small businesses want to change their C corporation to a limited liability company or LLC to be able to avoid double taxation while keeping personal assets safe from business...
Posted by The TaxAdvocate Group, LLC on 02/25/2020
The IRS estimated that in a year there is only a small part of tax crime convictions and these correspond to not more than one percent of taxpayers. However, it is also estimated by...
Posted by The TaxAdvocate Group, LLC on 02/25/2020
Today, for many young people, a student loan is one part of the university experience, which generally follows them for decades, even after graduation. The best-case scenario is that...
Posted by The TaxAdvocate Group, LLC on 02/15/2020
Many people are afraid of the tax season, and it is only natural. But if you expect a tax refund for the 2019 tax season (filed in 2020), you have something to hope for. With the additional...
Posted by The TaxAdvocate Group, LLC on 02/15/2020
According to the Washington Post, many employers pay workplace bonuses instead of pay raise. Bonuses are easier to stop than a steady increase in pay and have an immediate positive...
Posted by The TaxAdvocate Group, LLC on 01/19/2020
If you're a regular U.S. worker close to retirement, you have been shoveling money from payroll or self-employment taxes into the social security system for decades. Over a period...
Posted by The TaxAdvocate Group, LLC on 01/19/2020
Student loan debt has become an enormous problem for loan-saddled borrowers and it's easy to see why. According to a recent analysis by Credit.com, not only does the average college...
Posted by The TaxAdvocate Group, LLC on 01/19/2020
If you’re worried that a home office deduction will trigger an audit, then you might miss some significant tax savings this tax season. In the late 1990s, changes in the rules...
Posted by The TaxAdvocate Group, LLC on 01/19/2020
Tax reform was President Donald Trump’s campaign cornerstone. The general idea of Trump’s plan is his pledge to consolidate the number of tax brackets from seven to three....
Posted by The TaxAdvocate Group, LLC on 01/19/2020
You have saved your retirement for years. Now that you are approaching retirement age, how can you create a steady flow of income from your savings to help pay your bills? Savings...
Posted by The TaxAdvocate Group, LLC on 11/25/2019
It may be hard to believe, but in just a few weeks, we will say goodbye to 2019. Although investors had short-term difficulties, it was a solid year for the stock market. The S &...
Posted by The TaxAdvocate Group, LLC on 11/25/2019
The tax base of your real estate is the one that you paid for the property and all its improvements and is generally different from the purchase price of the property. The property...
Posted by The TaxAdvocate Group, LLC on 11/05/2019
Did you know that the internal revenue service (IRS) pronounced a new payment options which has already been added to the private debt collection scheme? The new payment option was...
Posted by The TaxAdvocate Group, LLC on 11/05/2019
If a taxpayer fails to file a return for a length of time, the IRS will use available information to prepare a substitute return. The IRS will then use the return to arrive at an assessment...
Posted by The TaxAdvocate Group, LLC on 10/29/2019
Pass-through businesses are likely to file early tax returns this year. Trusts, estates and individuals who own pass-through businesses can claim a deduction under section 199A for...
Posted by The TaxAdvocate Group, LLC on 10/29/2019
Making sense of how to secure business financing and confidence is a typical mission for both new and existing entrepreneurs. From start-up expenses to new extension procedures, building...
Posted by The TaxAdvocate Group, LLC on 10/23/2019
The United States ‘Bureau of Labor Statistics’ affirmed recently that the consumer price list (CPI) has expanded by 0.1% for August, after rising 0.3% in July. This is...
Posted by The TaxAdvocate Group, LLC on 10/23/2019
For many teenagers, the summer job is like their rite of passage. And paying taxes are considered a regular part of life and is learned by many teenagers in a hard way. As a parent,...
Posted by The TaxAdvocate Group, LLC on 09/30/2019
If you have filed a partnership tax return, for any tax year that began after December 31, 2017, you can expect a federal audit of your return that will be completely different from...
Posted by The TaxAdvocate Group, LLC on 09/30/2019
Despite the idea of paying your taxes using a credit card, it doesn’t always mean that it is a good idea. When you e-file your taxes through online tax services like TurboTax...
Posted by The TaxAdvocate Group, LLC on 09/30/2019
Promoters of a business may choose to set it up as either an S corporation or a C corporation. How do S corporation and C Corporation differ as a business status for filing a tax return?...
Posted by The TaxAdvocate Group, LLC on 09/30/2019
With all the enthusiasm and the possibilities of encryption, it can be easy to forget the cryptography fees. Almost all banks or other "altcoin" transactions (mining, air...
Posted by The TaxAdvocate Group, LLC on 07/29/2019
All income in the US is generally taxable. The social welfare payment may or may not be considered as taxable, but even if the social welfare payment is taxable, it may not be necessary...
Posted by The TaxAdvocate Group, LLC on 07/29/2019
Real Estate Investment Trusts (REITs) allows people to invest in wealth-generating real estate. The REIT is a corporation that generally owns and manages properties that generate income...
Posted by The TaxAdvocate Group, LLC on 07/29/2019
I have seen that people made many mistakes and even good choices during their 30 years working with 401 (k) participants from big companies such as Apple, IBM, AT & T, and many...
Posted by The TaxAdvocate Group, LLC on 07/29/2019
Have you recently or someone you know had a newborn added to their family? With all the enthusiasm of a new child, it's easy for parents to skip some vital financial steps to...
Posted by The TaxAdvocate Group, LLC on 07/01/2019
Do you deserve a break from the constant pressure of the IRS? You can be entitled to one! "Currently not collectible" (CNC) is a state attributed to taxpayers that the government...
Posted by The TaxAdvocate Group, LLC on 07/01/2019
The 529 plan can be found to be at it best in some state while it also can still be seen to be at a very ugly condition in some state. Morningstar is responsible for evaluating the...
Posted by The TaxAdvocate Group, LLC on 07/01/2019
In the United States, average tax cuts increased 1.3% in this period which has never been experienced over the previous year, but the total amount of these checks and the number of...
Posted by The TaxAdvocate Group, LLC on 07/01/2019
At the point when a potential purchaser gets in touch with you to purchase your business, they should see the financial reports for at least three years, including tax forms, profit&...
Posted by The TaxAdvocate Group, LLC on 05/29/2019
On the off chance that the IRS is in position to levy or seize, it is critical to recognize what is at risk.Regardless of what the IRS may tell your customers or what you may have...
Posted by The TaxAdvocate Group, LLC on 05/29/2019
Tax Relief company is an organization that offers incentive or program to facilitate the reduction of tax owed by a household or business. An instance includes the permitted deduction...
Posted by The TaxAdvocate Group, LLC on 05/29/2019
1. The Benefit standard Principle Under the benefit standard, taxes are viewed as serving a capacity like that of costs in private exchanges; that is, they help figure out what...
Posted by The TaxAdvocate Group, LLC on 05/29/2019
US Taxes for Non-Resident Aliens This article uncovers the nitty-gritty of the US tax framework and clarifies such fundamental ideas as financial residency. For non-resident...
Posted by The TaxAdvocate Group, LLC on 04/17/2019
Various tools and information are available on the Internet and in person to help taxpayers during filing season.For the latest updates and information needed to prepare and process...
Posted by The TaxAdvocate Group, LLC on 04/17/2019
SEP IRA is an employer-sponsored pension plan that allows business owners with 0 to 5 employees to earn a high income. The SEP will enable employers and the self-employed to pay $...
Posted by The TaxAdvocate Group, LLC on 04/17/2019
A freelancer is someone who works independently and provides services such as content writing, video animation, and editing, proofreading and editing, web design and app development...
Posted by The TaxAdvocate Group, LLC on 03/08/2019
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