IRS Tax Representation

Can You Repay Yourself Tax-Free from Business

By J Anton Collins / September 13, 2023

Can You Repay Yourself  Tax-Free from Business   Question from Business Owners:   If you made a loan to your new business, can you pay yourself back tax-free? In other words, are you going to be taxed when you pay back the cash that you invested into your small business.   What About Me? Did…

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Tell Me About the Employee Retention Credit

By J Anton Collins / August 31, 2023

Tell Me About the Employee Retention Credit   Tax Law Offices is starting a three-article series on Employee Retention Credit. This will be great information for anyone thinking about applying.   Here is what we will cover:   Basic qualifications and criteria to apply How to pick the best company to apply with What happens…

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Good News! IRS Won’t Come Knocking

By J Anton Collins / July 31, 2023

Good News! IRS Won’t Come Knocking   For many individuals and businesses, the mere mention of the Internal Revenue Service (IRS) can cause a sense of anxiety and dread. The IRS is responsible for enforcing tax laws and ensuring taxpayers comply with their obligations. However, recent developments offer a glimmer of relief to taxpayers across…

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Part 2 – Can you Buy or Sell a Business Subject to Tax Liens?

By J Anton Collins / June 15, 2023

Part 2 – Can you Buy or Sell a Business Subject to Tax Liens?     This is the second article in our upcoming 3-part series on selling a business with tax liens.   Federal Tax Liens can disrupt the sale of a business in multiple different ways. Sellers want a top-dollar sale price. Buyers…

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Do You Have to Report Gambling Winnings?

By J Anton Collins / May 19, 2023

Do You Have to Report Gambling Winnings?   Today we are going to talk about whether you must report gambling winnings on your taxes. It’s a simple question, but the answer is a little more complicated.   Gambling winnings are reportable on your federal and state income.   1. Can You Deduct Your Losses Against…

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IRS Offer-In-Compromise -The Number 1 Mistake Homeowners Make

By J Anton Collins / January 17, 2023

IRS Offer-In-Compromise -The Number 1 Mistake Homeowners Make   You have heard the saying, “there’s no place like home.” But what if you are trying to do an Offer-In-Compromise with the IRS and you have a lot of equity in your home? You want to protect that equity, right? In these situations, you may be…

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Can IRS Tax My PPP Loan?

By J Anton Collins / December 27, 2022

Can IRS Tax My PPP Loan?     Business Owners – Did you know Paycheck Protection Loan forgiveness may not always be tax-free? Here are three things you need to know.   #1   If you had a legitimate business in operation by February 15th, 2020, and took out a PPP Loan, your loan is…

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Happy Holidays!!

By J Anton Collins / December 20, 2022

Happy Holidays!!   With so much focus on our Tax Matters practice, sometimes we forget just to stop to say THANK YOU!   You have been a part of our year, no matter whether you’re a client, business owner, fellow accountant, or fellow lawyer. Our Tax Law Offices have enjoyed helping solve IRS tax problems for you and…

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$800 South Carolina Tax Rebates – When Will You Get Your Money?

By J Anton Collins / December 6, 2022

$800 South Carolina Tax Rebates – When Will You Get Your Money?   South Carolina residents, you know now that you have a tax rebate of up to $800 coming. What if you haven’t received yours yet? There are a few rules regarding who is eligible and when the rebates will arrive. Here is what…

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If You Pay Your Employees Under the Table Here Is What You Need to Know

By J Anton Collins / October 17, 2022

If You Pay Your Employees Under the Table Here Is What You Need to Know   If you are the owner of a business and you are paying your staff cash under the table, what consequences could you face if caught?   First of all, you may think that no one will ever find out.…

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