Getting behind on paying your taxes can cause considerable problems for your business. Working with your attorney, you consider your options and decide to take advantage of the offer in compromise program offered by the IRC. It is a massive benefit for you as it takes...
Your tax situation can quickly become complicated when you’re self-employed. Since there’s no employer to withhold taxes for you, and no employer paying their fair share of your tax obligation, you’re on the hook for paying all taxes on your self-employment income. A...
Life gets busy, and sometimes, important notices slip through the cracks. However, you can face serious consequences when you ignore a CP504 notice from the IRS. One day, you might receive a letter stating that the IRS plans to seize your car. Can they do that? Yes,...
Starting a small restaurant can be a thrilling venture, but it can also be overwhelming. As the owner, you are likely juggling multiple roles – from chef to accountant and everything in between. However, when it comes to reporting income, precision is crucial. Even...
