Things you should know about IRS
When you are having tax issues there are things you should know about the IRS. It can be a serious and stressful situation when you get that letter from the IRS; but the main thing is that you should...
View ArticleBankruptcy and tax debt
If you are in tax debt and you also have other debt you can get relief by filing bankruptcy. You may be eligible for your tax debt to be discharged under Chapter 7 and Chapter 13 so bankruptcy and tax...
View ArticleConsquence of debt settlement
If you have credit card debt and you are trying to settle the amount owed with the credit card there are a few things that you need to be aware off. When you have large credit card debt and you can’t...
View ArticleGross Income
The tax code in section 61 defines gross income as all income from whatever source derived, including but not limited to the following: (1) compensation from services, including fees, commission,...
View ArticleWhen 1099 are required?
As a business, under the law, you are required to issue a 1099 for once a year for each worker that renders services to you as an independent contractor. An independent contractor is not a regular...
View ArticleSole Proprietorship
Did you know that there are over 20 million sole proprietorships in the United States? That means that over 80% of all businesses in the United States are individually owned and operated businesses....
View ArticleThe power to tax
It is often asked how the government has the power to tax its citizen. This often comes up during tax time because people seeing people protesting or making claims that it is all a scam and that the...
View ArticleInheritance tax
Very few of us realize but when our parents pass away or any one else who leaves anything to us as part of their estate when they pass away, the receiving person has to pay an inheritance tax. Some...
View ArticleWhere to find free tax preparation help
Tax is a fee charged by the government on a product, services, income and activities that a person, company, or entity accumulates in a one year period. There are two types of taxes. Direct taxes are...
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