Payroll Tax First Step – Avoid the IRS Cliff
Payroll Tax First Step (Not a Cliff Dive) Your business might owe tens of thousands or even hundreds of thousands in payroll tax to the IRS. You might even feel like you’ve fallen off a cliff or drowning underwater. But remember, even when it seems there is no way to end the problem, there…
Steps in Handling Payroll Tax
Steps in Handling Payroll Tax So, your maybe business owes IRS payroll tax. You may be receiving notices that say the IRS is going to collect. The letters threaten to levy (or seize) of your assets and bank funds. You have to fix this problem. Failure to correct the problem could end your…
IRS Online Accounts Setup Scam
Don’t Talk to Strangers! (New IRS Scam) The IRS just published this new story about a new scam happening. Be careful of strangers offering help. Now, people call you, pretending to work for the IRS. They offer the “service” of helping you set up your IRS online account. They tell you that it will…
ERC Voluntary Disclosure Program (IRS) – Deadline March 22, 2024 to Bail Out
ERC Voluntary Disclosure Program (IRS) Deadline March 22, 2024 to Get Out Are you familiar with the March 22nd deadline for the Employee Retention Credit Voluntary Disclosure Program? Basically, if you received an Employee Retention Credit refund, and if you really were not entitled to it, the Voluntary Disclosure Program allows you to turn…
Free IRS Help Now – Form 911
Free Help for Tax Problems – Form 911 This is an IRS Form 911. It is used to contact the IRS Taxpayer Advocate’s Office. To use the Taxpayer Advocate service, just complete Form 911 and submit. Let me tell you a few things about that service, and how it is commonly used….
Deduct Gambling Losses on Your State Taxes
Deduct Gambling Losses on Your State Taxes This Article is for Gamblers Gamblers, whether professional, habitual, or just casual players, have a few things in common. First, they occasionally win. But also, they occasionally finish the year with a net loss from wagers. Still, they all must prepare federal and state tax returns showing…
How to Choose Tax Professionals (Not Doughnuts)
How to Choose Tax Professionals (Not Doughnuts) Because it’s the beginning of the year, I want to discuss how to choose the right tax professionals to help you. We see advertisements constantly with companies that promise to get you the largest refund possible. Well, please be careful about that. This is why for the…
How to Help Your Boss(3 Ways to be the MVP)
How to Help Your Boss with Tax Issues (3 Ways) This article is to help employees of companies with owners who are overwhelmed. This especially applies if you work for a struggling business that is having trouble keeping enough cash flow. Some of the signs of a struggling company may be: Payroll is often slow,…
Top 3 Problems of Business Owners (and How to Cure Them)
How to Cure the Top 3 Problems of Business Owners The 3 most common concerns that I hear from business owners are not what you might expect. Self-employed people want to “get their finances in order”. And that can mean a few different things. This could mean more savings, better cash flow, or improving their…
How Do Tax Liens Affect Your Credit Rating?
Do Tax Liens Affect Your Credit Rating? This is a trick question. The Positives: Tax liens currently do not affect your credit score. Because of the Equifax case back in 2018, the credit bureaus stopped including tax liens on credit reports as derogatory history. Note: Before 2018, yes, tax liens definitely were…