by Candy | Jan 26, 2021 | Featured, Taxes
Determining the statute of limitations (SOL) on your taxes can be deceptively complicated. Luckily, in their recent article “How the IRS Determines Statute of Limitations on Collections,” CPA Practice Advisor outlined general guidelines for how SOL is defined and...
by Candy | Jan 22, 2021 | Business, Taxes
Tax protocol is complex and unclear surrounding lawsuit settlement funds. Payments received from legal proceedings are usually taxable, and funds used in the legal process (such as attorney fees) are often not deductible. This varies on a case-by-case basis and can...
by Candy | Jan 21, 2021 | Business, COVID-19, Taxes
https://youtu.be/wIFXnAezZrA Are you an entrepreneur who’s been struggling to keep up with your income tax payments? Are you thinking you’re still going to have a problem in 2021? Many are used to the IRS offering blanket penalty abatement for things...
by Candy | Jan 19, 2021 | Business, Communication, Taxes
As 2020 comes to a close, many small business owners are concerned about the complexities of filing their tax returns after a significant shift in their business operations and workforce distribution. We’ve already covered how telecommuting employees may establish a...
by Candy | Jan 15, 2021 | Business, Taxes
Recently there have been some developments regarding so-called “marriage penalty” that some couples experience when filing taxes. This penalty occurs when spouses that have similar gross incomes pay more in taxes when filing jointly than they would if they had...
