When our clients start the resolution process with IRS, most are surprised by the amount of financial information they have to gather. (Think of it as having to apply for a mortgage.) They quickly notice the IRS’ keen interest in their personal financial affairs. All of a sudden, the IRS wants to know about aspects…
I recently attended a training with my mentor, Todd Herman, and he introduced this concept called “Pillow Happy,” which I just had to share with you. It’s all about doing the things during the day that will guarantee you are in a blissful state of happiness and contentment when your head hits the pillow at…
So, the other day I had a call with one of my clients, and we were going over the amount he owes to the IRS. We dug into what the tax was, what the interest was, and what kind of penalties he had. And it wasn’t long before he discovered that the amount he owed…
On this episode of Ask The Tax Attorney, our guest, Marlene Markowitz, shares her experience as a business owner, specifically as an immigration and trademark lawyer. The conversation covers various topics, including the need for immigration attorneys, the benefits of social media for businesses, and the importance of double-checking important documents. Listeners will also hear…
I think some people have misconceptions about money. And if you think about it, we all have lots of misconceptions about lots of things, including the IRS. I admit that sometimes I don’t realize that what I know is not common knowledge for everyone. (See misconception right there.) So, I thought I do my part…
Okay, the New Year is closing in fast, so I wanted to pen a quick reminder about what HAS to be done before the 31st… Charitable donations. Individuals who itemize their deductions can receive a current-year tax deduction for cash donations. In other cases, such as stock donations or gifts to foundations, they are still…
Esta es una pregunta común que nos hacen los contribuyentes: ¿Cómo puedo saber si tengo que presentar pagos trimestrales de impuestos individuales estimados? Respuesta: Por lo general, debe realizar pagos estimados de impuestos para el año fiscal en curso si se dan las dos circunstancias siguientes: 1. Usted espera deber al menos 1.000 dólares en…
Consejo rápido para los propietarios de mi negocio – cada empleador que paga salarios de $ 600 o más para el año está obligado a preparar y presentar un formulario W-2 para cada empleado. Esto también incluye los pagos no monetarios de $ 600 o más para el año por los servicios prestados por un…
Here’s a common question that we have from taxpayers: How do I know if I have to file quarterly individual estimated tax payments? Answer: Generally, you must make estimated tax payments for the current tax year if both of the following apply: 1. You expect to owe at least $1,000 in tax for the current…
Quick tip for my business owners – every employer who pays wages of $600 or more for the year is required to prepare and file a Form W-2 for each employee. This also includes noncash payments of $600 or more for the year for services performed by an employee when taxes were withheld. In addition, anyone required…