Don’t Worry If you owe back taxes to the IRS, some amount of panic is understandable. After all, the Internal Revenue Service has the power of the federal government in its corner, something no other debt collector can claim. They are considered the most brutal collection agency on the planet. It is easy to freeze[...]
Business Owners: Learn if a Defined Benefits Plan is Right for You Business owners who want to take advantage of the new 20 percent qualified business income (QBI) deduction under the 2017 tax law may want to consider having not only defined contribution retirement plans, such as 401(k) plans, but also defined benefit plans similar[...]
2017 & 2018 Taxes: Make Sure to Report Your Bitcoin Transactions: $20,000 Threshold Bitcoin and Taxes: Coinbase is Complying with the IRS’s Reporting Requirements. Remember to Report Your Bitcoin Transactions. Tax consequences from the sale and trade of bitcoins vary around the world, U.S. taxpayers must treat bitcoins and other “convertible” virtual currency as capital[...]
Do You Wish Your IRS Problems Would Just Go Away? Have you received a notice from the IRS only to leave it on your kitchen counter, desk, or worse, just hide it under a stack of bills? Are you afraid to even open the letter from the IRS? Unfortunately, those letters from the IRS will[...]
The Tax Reform & Tax Rate Changes You Should Know On December 20, the House approved H.R. 1, the “Tax Cuts and Jobs Act,” the sweeping tax reform measure, by a vote of 224 to 201. The Senate had passed the measure, as revised to address some procedural complications, the night before, and the bill[...]
