Being in debt to the IRS can seem like an insurmountable obstacle. One of the common questions tax debtors ask is, "Can I really settle my tax debt for pennies on the dollar?" It's a tempting notion and one that various advertisements have amplified. This article breaks down the reality behind this concept and offers five key points to consider. Understanding the … [Read more...] about Can You Really Settle Your Tax Debt With The IRS For Pennies On The Dollar?
Tax Audit
The Dangerous Consequences of Ignoring Your Taxes
There are many things in life you can ignore. Taxes simply aren't one of them. If you fail to file or pay owed taxes, you can expect to experience consequences, some of which might be pretty serious. Understanding the Difference Between Not Filing and Not Paying There are more than a few people each year who blow off their taxes and don't file. Either they think it won't … [Read more...] about The Dangerous Consequences of Ignoring Your Taxes
5 Tips for Small Businesses During Tax Season
Tax season can be a headache for small business owners. No one will ever contradict that statement as you try to comply with different state and federal tax policies through a very complicated tax system. Small business owners can be very organized, maintain good books and even get the best accounting software available but still, that isn't just enough. Below are some … [Read more...] about 5 Tips for Small Businesses During Tax Season
Non-Traditional Tax Deductions: Successes and Failures
Starting a business is not for the faint of heart. Business owners often need to pour thousands upon thousands of dollars to get their business venture off the ground. The costs can be never-ending. (Rent, website design, marketing, hiring and paying employees, legal fees, and insurance fees are just a few of the costs that can sink business owners into debt.) Federal and … [Read more...] about Non-Traditional Tax Deductions: Successes and Failures
What to Do If You Are Audited by the IRS
"You are being audited ..." Words that can strike fear into the hearts of the bravest, most stable and level-headed adults. A federal tax audit is a fearful thing to most of us - and with reason. Instinctively, we know an audit will take time, create frustration, and cost us money. It will make even the most intelligent and honest of us feel inadequate, dumber than a doorknob, … [Read more...] about What to Do If You Are Audited by the IRS