IRS Tax Representation
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…
Read MoreTell 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…
Read MoreGood 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…
Read MoreDo 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…
Read MoreIRS 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…
Read MoreCan 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…
Read MoreHappy 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…
Read More$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…
Read MoreIf 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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