Question: My father is retired and volunteers about 40 hours per week at the church doing maintenance. He was told my a business owner to open an LLC and get a letter from the church for his work to used as a tax deduction. Is this really plausable since they LLC wouldn’t be generating income? How would this effect his personal taxes? Is there a way to actually do this? Thank you. Continue reading…
Tax Return Failure to File and Failure to Pay Penalties
We have prepared delinquent returns for many clients. When the client gets the tax bill, the client is astonished on the amount of penalties and interest charged. We usually tell clients that if you owe taxes from four years ago, you can double it to estimate how much is owed today.
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Tax Question – Help on Paying Back Payroll Taxes
Question: I owe back IRS payroll taxes. I am planning to sell some assets to help pay off the taxes. How do you recommend I pay the taxes? Continue reading…
Tax Question – Copy of Tax Return
Question: Our attorney requested a copy of a tax return related to a lawsuit. It has been three months now with no response from the IRS. The trial is around the corner and the attorney seems confused as to why the IRS has not responded. I did know if this was normal for the IRS, if there was special procedures to obtain such paperwork which the attorney is not aware of, or something else you might know of that we haven’t even thought of yet. Continue reading…
Payroll Tax Help Question
Question: What is required to do payroll for my corporation? Continue reading…
Business Tax Question – Business Deductions?
Question: I do not know all the business write-offs. Also, I do not know what is and what is not a business write-off. Can you provide some guidance? Continue reading…
Tax Question – Business and Personal Deductions
Question: Is there a quick checklist to help me determine what is deductible personally, for rentals, and for business? I do not need all the details right now. Continue reading…
Tax Help Question – IRS Notice
Question: I owe taxes and received an IRS notice. It says Intent to Levy. I am freaked out that the IRS will take my paycheck and empty my bank account. What does the letter mean? Continue reading…
Tax Question – Exemptions
Question: Did the dependent exemption increase over the past few years? Continue reading…
Tax Question – Exemption for child
Question: When “claiming” the kids, is it $2600 per dependent, and is that a “reduction” in taxes paid or just a simple “credit?” Continue reading…