Category: General
Ignorance: A Flimsy Excuse for Not Filing FBARS
Feb 07, 2024
Here’s one of the most frequent questions people ask me about Foreign Bank Account Reports (FBARs). ‘‘I recently learned about the need to file an FBAR for overseas accounts with over $10,000. I…
Unemployed? 5 Things You Need To Know Before Cashing Out 401(K) Early
Feb 02, 2024
Here’s one of the most frequently asked questions I receive about 401(K) withdrawal. ”I recently lost my job, and unfortunately, I don’t have an emergency fund or other financial resources to cover my…
Military Spouse Tax Filing Challenges: Answers to FAQs
Feb 02, 2024
The unique demands of military jobs pose challenges for military spouses, especially with the frequent relocations they face. These challenges include adapting to new homes, finding employment, and, of course, managing taxes during…
IRS Form 944: How to File When Your Business Owes Less
Jan 25, 2024
When it comes to running a business, staying on top of your tax responsibilities is crucial. If you’re a small-scale employer, chances are you might be familiar with IRS Form 944, also known…
IRS Form 1040-X: How To Correct Mistakes on Previously Filed Return
Jan 12, 2024
Tax filing can be a perplexing time for many Americans, and sometimes, despite your best efforts, mistakes happen. If you’ve filed your taxes and then realized you made a mistake, don’t fear. The…
The Peril of Ignoring Estimated Quarterly Tax Payments: How to Avoid
Jan 04, 2024
If you’re a freelancer or small business owner, the danger of neglecting estimated quarterly tax payments looms large over your financial stability. When you’re caught up in meetings, deadlines, and dealing with clients,…
Identity Theft IRS Letters: What to Do When You Become a Victim
Dec 14, 2023
Identity theft is a growing concern in our digital age, affecting thousands of Americans each year. In fact, during the 2023 tax season, the IRS flagged over 1 million tax returns as potentially…
New Tax Bracket for 2024 (Plus Tips on How to Make Your Taxable Income Low)
Dec 05, 2023
As the new year begins, so does the countdown to the new tax season. When January rolls around, we’ll all dig through receipts and scratch our heads over forms. However, as you prepare…
Your Easy Guide to IRS Form 8283: Simplifying Charitable Donations for Tax Deductions
Nov 20, 2023
Supporting charities can be immensely rewarding, not just for the positive impact it has on communities and causes but also for the potential tax benefits it offers. When making charitable donations, ensure you…
Serious Tax Debts Can Put U.S. Passports in Jeopardy, Tax Resolution Expert Warns
Nov 14, 2023
LAS VEGAS – Oct. 18, 2023 – U.S. residents who owe more than $59,000 in back taxes and are planning to travel abroad should allow at least several months to negotiate a settlement…