Have you been ignoring your future retirement needs? This tends to happen when people are young; because retirement is far in the future, they believe that they have plenty of time to save for it. (more…)
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For most people, personal finance is a deeply private matter and the idea of revealing their personal financial information to anyone, especially total strangers, can often cause fear and anxiety. However, when taxpayers find themselves with tax debts that they…
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If the sale of business or investment property results in a gain, the gain is normally subject to tax in the year of the sale. However, there are opportunities to report a gain over several years, to postpone it by investing…
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No one wants to find out that they owe money to the IRS when Tax Day arrives. However, owing money to the IRS is even worse when the amount includes additional penalties that you could have avoided through more prudent…
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It’s been more than one year since tax reform was passed and taxpayers and their tax advisors have been waiting for guidance as to whether rental property will be classified as a trade or business for purposes of qualifying for…
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For taxpayers who find themselves unable to pay their tax liability in one lump sum, the IRS offers installment agreements as a solution that is beneficial to both the taxpayer and to the IRS. In some cases, the IRS will…
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Beginning in 2019 The Tax Cuts and Jobs Act made changes to the tax treatment of alimony. Learn if your finances will be impacted by these changes. For divorce agreements entered into after December 31, 2018, or pre-existing agreements that…
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Tax season is just around the corner. Online services have become a popular choice for individuals and families to prepare and file their returns. But there are a wide range of situations that call for professional assistance. (more…)
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When you’re faced with tax debt that you do not have the ability to pay in full, you should ideally contact the IRS to apprise them of your situation and work out a payment plan. However, if you do not…
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Let’s say that you have just received the results of an IRS audit and they are not favorable. The auditor has assessed additional back taxes, and now, you are on the hook for additional interest and penalties as well. Do…
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