5 Red Flags That Could Potentially Trigger a Tax Audit

5 Red Flags That Could Potentially Trigger a Tax Audit

Tax audits can be stressful for taxpayers and can cause them to wonder if they’re at risk of a tax audit. This is especially true if a taxpayer has a unique income stream or if they’ve been flagged for an audit in the past. There are some red flags though...
Do You Owe the IRS? Here Are All Your Payment Options

Do You Owe the IRS? Here Are All Your Payment Options

No one likes owing the IRS money, but it happens to a lot of people. If you don’t have the cash to pay your tax bill all at once, don’t worry. The IRS has a few options that can help you out. 1. Using the Form 1040-V Payment Voucher If you can’t pay...
3 Signs You Need to Hire a Tax Professional to Help

3 Signs You Need to Hire a Tax Professional to Help

So, you’re sitting there complaining about how complicated taxes are, or you just plain hate doing it. What do you do? Do you just embrace the suck? Well, if you don’t want to do taxes, there’s a solution for you! There are many tax professionals out...
What Are the Most Common Tax Issues for Small Businesses?

What Are the Most Common Tax Issues for Small Businesses?

Small businesses’ most common tax issues are simple mistakes that result in inadvertent noncompliance. These are mistakes made by small business owners or their hired tax preparers due to a lack of training or knowledge about tax laws. Business owners should not...
Different Reasons the IRS May Contact You for an Audit

Different Reasons the IRS May Contact You for an Audit

Nobody likes getting audited. If you’re one of those people who receive a letter from the IRS, remain calm. The audit is a procedure that may be resolved with nothing more than the correct paperwork. Fortunately, it can be handled quickly and with little stress,...
The Top 4 Tips for Self-Employed Taxpayers

The Top 4 Tips for Self-Employed Taxpayers

Of course, there are advantages to running your own firm or becoming a professional freelancer. You can work from anywhere, set your own hours, and take on significant responsibilities. Working for yourself also allows you to take advantage of tax savings.  However,...
Everything You Should Know About Filing Your Back Taxes

Everything You Should Know About Filing Your Back Taxes

It can be hard to pay back taxes if you’ve been dealing with back issues for a long time. The Internal Revenue Service (IRS) believes that it does not have a statute of limitations on how long you can wait to pay back the taxes you owe. The IRS doesn’t...