what the self-employed should expect at tax time

Benefits Of Working With Tax Experts To Resolve Tax Issues

The IRS can institute various legal processes against non-compliant taxpayers to recover the unpaid amount. They can get back these funds by placing a tax lien on your assets like a bank levy or valuable property. Before the IRS comes after your assets, they will issue a notice informing you of their intentions. These notices are not final, and a tax resolution expert can help you stop the levy from taking full effect.   Read More...

Hiring Your First Employee? Five Important Tax Tips

Small business growth is exciting. The transition from being a sole operator to now hiring your first employee feels like and is a major accomplishment. However, just as with all other business processes, it does take proper planning, particularly when it comes to taxes. Learn what steps you should take to protect your new employee and your business. Employee Documents The first step to ensure your taxes are in order is to collect the necessary tax documents from the employee.   Read More...

Exploring The Pros And Cons Of Rental Property 1031 Tax Exchanges

Purchasing and selling rental properties is a great way to build your wealth and create passive income. However, the sale and purchase of rental properties can also leave you with quite a significant tax liability at the end of the year. This is why many real estate investors choose to take advantage of tax break opportunities such as 1031 tax exchanges. Below you will learn more about this particular opportunity to defer the taxes from the sale of one of your rental properties by examining both the pros and cons that come along with the use of a 1031 tax exchange.   Read More...

Ways Issues With The IRS Are Resolved With The Help Of A Tax Resolution Specialist

Owing the IRS money for back taxes and fees can be a scary situation. Hiring a tax resolution specialist may be a good way to find some peace of mind. Here are a few ways issues taxpayers tend to have with the IRS can sometimes be resolved with the help of one of these professionals.  The specialist negotiates an installment plan to pay old tax debts.  The number one thing the IRS cares about is getting the money that they are owed from the people that owe them money, even if that means they have to work with you to set up an installment plan to pay past-due debts.   Read More...

3 Ways To Make Sure You Don't Fall Behind On Your Property Taxes

Falling behind on your property taxes is one of the worst things you can do as a homeowner. If you get behind and are not able to catch up quickly, the municipality will place a tax lien on the property, which will make it really hard to sell. Some people fall behind on their taxes because they face financial hardship, such as a job loss or major medical incident. But other times, they fall behind purely on accident because they're forgetful or don't schedule the payments.   Read More...