Showing posts with label Arizona tax resolution attorneys. Show all posts
Showing posts with label Arizona tax resolution attorneys. Show all posts

Tuesday, September 15, 2020

Small business accounting practices.

Practically every small business has receivables that it cannot obtain from clients. If your small business doesn't have any such receivables, consider yourself lucky. 




For those small businesses that suffer from uncollected receivables, solace can be taken from the fact you can claim a tax deduction. 





Bad Debt Tax Deduction: A small business can write-off bad debt losses if it meets nominal requirements. To claim such a tax deduction, the following must be shown: 


A. The existence of a legal relationship between the small business and debtor;






B. The receivables are worthless; and


C. The small business suffered an actual loss.
Proving there is a legal relationship between the small business and debtor is fairly simple. You must simply show that the debtor has a legal obligation to make a payment. Most businesses issue invoices or sign contracts with debtors and these documents suffice to prove the legal relationship. If you are not putting your business relationships in writing, you should begin doing so immediately.





Proving receivables are worthless is slightly more complex. A small business is required to show that the debt has become both worthless and will remain so. You must also show that you took reasonable steps to collect the receivables, but you are not necessarily required to go to court to meet this requirement. A clear example where you would meet this requirement is if the debtor filed bankruptcy. While proving that you suffered a loss may sound like the easiest requirement to meet, the issue is a bit more complicated. The Tax Code defines the loss as an amount that is included in your books as income, but is never collected. A classic example of such a situation would be a manufacturer that provides products to retailers on credit. The manufacturer can show a real loss if the retailer files bankruptcy. Unfortunately, there is almost no way to claim a loss if you provide hourly services and use a cash accounting method. The IRS does not consider the expenditure of time and effort to be a sustained economic loss. Small businesses suffer all to often from uncollected receivables. If you failed to claim such losses as a tax deduction during your last three tax filing years, you should file amended tax returns to get a refund. 



Individual Tax Saving Ideas

Individual Tax Saving Ideas







But when it comes to your taxes, it can seem like you're stuck paying the amount you are told to pay. However, this is simply not the case.




While the tax code is rigid and there are a lot of rules to follow, the truth is that many people don't take the time to learn how the rules work and how they can work to their advantage. 





Often, there are rules that can help to lower your annual gross income so that you're not only lessening your taxes, but also getting a larger return for that vacation you've always wanted to take. First of all, what you need to realize is that there are two different kinds of deductions that are listed in tax law – deductions and tax credits. Deductions are those costs that are subtracted from your gross income on the front side of a tax form before anything else is taken off. These help to lower your tax bracket first along with the standardized deductions that everyone has on their forms. Tax credits are those deductions that come directly off of the amount you are to be taxed. Obviously, these are much more significant and will help to dramatically lower your owed taxes. When you look at a basic 1040 form, which the usual form that most individuals use, you will notice that on the front of the form, you can take deductions for the following:


Exemptions


That is, those people who are dependent on you. You get a tax break for them. This is generally going to be one or two if you don't have any children (single or married correspond with one and two). You might also reduce the taxes you owe at the end of the year by reducing the exemptions you claim on your initial W-2 form. Instead of claiming '1,' you might want to claim '0.' This maximizes the amount of taxes that are taken from your paycheck. There are also standard deductions that everyone can take. Some of these include (for the 2007 tax year):



·         Single deduction: $5350

·         Married, filing separately deduction: $5350

·         Married, filing jointly: $10700

·         Head of Household: $7850

·         Widow(er): $10700


Each year these deductions seem to go up and help ease the burden of taxes on everyone in some way. These deductions will go on Schedule A to help reduce your gross income:


Medical deductions


If you have a lot of medical expenses, you will want to keep receipts and make sure to enter in the totals here. What can and can not be included in this total varies per year, so you will want to check with the IRS to see what the current rules are. These costs can not be something that was reimbursed by your health insurance company or by another else.

Taxes that you already paid


If you already paid estimated taxes, you will want to make sure that you are listing that total. This can be money that you sent the IRS to help with this section or it can be associated with a business.


Friday, September 11, 2020

Tax debt relief

Tax debt relief is opted for by people who have failed to file their returns, which in result have made them liable to pay a repayment of back taxes




This is no doubt a severe and frightening felling of anxiety, this may occur due to various reasons. It might be an emergency such as individual or family illness, death in a family, change in economic condition, and lack of budgeting or lavish lifestyle. 






In these situations, failure to pay the money or underpayment are the two most common things to happen. And if this thing really occurs one should fix it as early as possible that is because some forms of non-payment are liable to be punished by imprisonment for every year of taxes that has not been paid.




Tax debt relief is the best solution that one can go for if he or she has failed to pay the taxes in time. There are several tax debt relief agencies that offers tax settlement plans so that their clients may come out of their debt quickly. They have specialized professionals who work round the clock to help their clients. Government also on the other hand has many provisions for the people who have their taxes due. An underpayment is easier to pay back than the person who has just refused to pay the money. With the help of a professional mediator one can reduce his or her payable amount to a smaller fee, which will enable the government to get back a portion of the money that is owed.
Tax debt relief may often call for legal proceeding that is why a proficient lawyer who is qualified in this field is indispensable. The professional attorney can help to get the relief without imprisonment. Whatever the reasons be, taxes due are always offensive in the eyes of law. The tax collectors in the first hand send legal notifications which if not answered leads to the prosecution and the professionals best handle these situations.
Conditions that lead to inescapable delinquency are always unacceptable but not beyond negotiation which can be done with the help of a professional tax debt relief help. A proper Tax debt relief program provides quite a few pertinent assistance such as embellished salary, bank charges, bankruptcy among other circumstances. A responsible citizen should never ignore to pay tax. Even if he or she failed in first position, a solution should be tried to find out and the amount should be paid back. The person who has failed to pay his or her tax for the first time shall also have to plan certain things for future so that it might not happen again. A tax debt relief might work first time, but it should be kept in mind that government is always willing to help people but those who commit the same mistakes again and again shall be considered irresponsible and be put on trial. That is why it is always advised to have a certified help plan payments.




Thursday, September 10, 2020

​Income tax help

While it would be ideal if everyone could resolve their tax issues by hiring a highly qualified professional, the fact is there are some instances in which delinquent taxpayers owe more than they can afford to pay but the amount owed is too low to warrant paying for representation services. 





In other instances, delinquent taxpayers will owe a substantial amount in back taxes but do not have the ability to pay a qualified representative to resolve their tax matters. It is always the “Right” choice to retain a qualified representative to assist you in resolving your tax concerns; but the “Right” choice is not always the practical choice. 




If you fall into either of the two above-mentioned categories, it is important for you to realize that either the inability to pay for representation, or having a liability that is too low to warrant representation does not preclude you from needing to take action. 



Most people hate doing taxes, but they usually get them done and sent out on time. Taxes aren't so bad if you are getting a refund, but the process can be daunting. If you have any deductions for work or owning a business, there is a lot of paperwork that you must keep track of if you want to make filing easier. If you don’t go to someone to get your taxes done, you may want to consider using a tax professional, call 877-541-6901.

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There are other types of income tax help there that you may find yourself in need of one day. This type of help comes when you have failed to pay in the taxes that you owe, and the IRS is after you to pay up. This happens to people at times when they simply cannot pay what they owe because of personal emergency or bad planning. If you find yourself in this position, you should call a lawyer who specializes in tax money owed for your income tax help. They may be able to get you an extension or a payment plan, and in some cases, they can get the amount you owe lowered. This is never a guarantee however, so make sure you pay up as soon as you can. 

Wednesday, September 9, 2020

Avoid a irs tax lien.

tax debt relief

While it would be ideal if everyone could resolve their tax issues by hiring a highly qualified professional, the fact is there are some instances in which delinquent taxpayers owe more than they can afford to pay but the amount owed is too low to warrant paying for representation services. 


tax debt relief


In other instances, delinquent taxpayers will owe a substantial amount in back taxes but do not have the ability to pay a qualified representative to resolve their tax matters. It is always the “Right” choice to retain a qualified representative to assist you in resolving your tax concerns; but the “Right” choice is not always the practical choice. 



If you fall into either of the two above-mentioned categories, it is important for you to realize that either the inability to pay for representation, or having a liability that is too low to warrant representation does not preclude you from needing to take action. 


tax relief

Most people hate doing taxes, but they usually get them done and sent out on time. Taxes aren’t so bad if you are getting a refund, but the process can be daunting. If you have any deductions for work or owning a business, there is a lot of paperwork that you must keep track of if you want to make filing easier. If you don’t go to someone to get your taxes done, you may want to consider using a tax professional.


tax relief



There are other types of income tax help there that you may find yourself in need of one day. This type of help comes when you have failed to pay in the taxes that you owe, and the IRS is after you to pay up. This happens to people at times when they simply cannot pay what they owe because of personal emergency or bad planning. If you find yourself in this position, you should call a lawyer who specializes in tax money owed for your income tax help. They may be able to get you an extension or a payment plan, and in some cases, they can get the amount you owe lowered. This is never a guarantee however, so make sure you pay up as soon as you can. 

Wednesday, August 26, 2020

Tax resolution attorneys in Arizona.


The Arizona tax attorneys are always available to answer the queries of the taxpayers who are bugged with the disputes over their annual taxes. Do you owe $10,000 or more in IRS tax debt and live in the state of Arizona tax resolution experts can help you. 



Unfilled tax returns only signify one thing and that is being in real trouble with the Internal Revenue Service. If for example you owe IRS some taxes for about ten years, then they will compute it all. They will try their level best to reach you through your old address. If in this event you have moved out of the country and once you come back, IRS will go after you demanding your dues for your taxes in the entire year of your absence.


When such case arises, you know one thing for sure. You know that you can be condemned for tax evasion. This is a crime which is punishable by the law. IRS will be very religious in sending you reminders. At one point, these reminders will become unfriendly and you will just be shocked to receive a Notice of Intent to Levy all your wages and assets. 



Does it mean trouble for the unfilled tax returns that date way back? It is in fact very much complicated if your unfilled tax returns trace to at least six years backwards. It is so because the files are kept in storage and it will need enough concerted effort to locate those records. An agent will need to browse through all of the kept files to be able to gather them all. You can just imagine how difficult it could be if your unfilled tax returns date back to some more years back in time. What is meant by wage garnishment? 



With the term wage garnishment, it means that a levy is imposed in another method. This method is concerned with the manner of collecting the back taxes which a taxpayer owes the IRS. With regards to the IRS attacks, the words levy and garnishment mean the same thing. The typical targets of the garnishment are your bank accounts and wages but the rule may also apply to the seizure of your furniture, equipment, your home, your vehicles, and your other valued possessions.


Is any bank permitted to turn over an account to IRS without the concerned party's consent? YES, When IRS imposes a levy on your account in the bank, your bank is legally bound to turn over whatever amount is in your existing account. It does not regard the fact as to whether it is your own money or not or where you got your money. Most people keep direct deposits for the Social Security, pensions, child support, and many others but then the IRS does not consume time to locate the source of the money. At the time when the money gets deposited in an account which is under your name, it automatically loses its own identity. When will these levies on the bank account be stopped? In comparison with the wage garnishment, a levy in your bank account will only happen once. Meaning, the next batch of money that gets deposited in your account will solely be yours again. 


Wednesday, July 22, 2020

IRS Payroll Tax Debt

Filing Prior Years IRS Tax Returns

IRS Tax Debt



Our tax resolution firms believe that it is in the best interest of the consumer to file all of their past due tax returns, regardless of ability to pay. The economic consequences of unfiled tax returns are severe there is a maximum 25% late filing penalty that can be applied to the tax. Combined with accruing interest, this late filing penalty can add up to almost 50% of the original liability in many cases. Our tax specialists will work with you to prepare and file all of your unfiled returns, even if you no longer have the original records from the filing years.



IRS Tax Debt



True Tax Returns Filed Over IRS Substitute Returns

Most people do not know that if you do not file a tax return the IRS will file it for you. When the IRS files the tax return for you they do not take into account any of your standard deductions such as mortgage interest, spouse, children etc.. When our clients see this huge tax bill most of them just freeze not knowing that there are options. If it your right as a citizen to file a true tax return over the substitute return the IRS did for you.Once the IRS receives your true returns they will void the ones they did for you. The IRS will zero out the debt and recalculate the debt and penalties and interest based on your true debt.



 Get IRS Tax Relief Now



Abatement of IRS Tax Penalties and Interest
Abatement of a tax liability means to reduce or change a tax, penalty, or interest. Most frequently, abatement refers to eliminating an assessed tax liability and adjustment references reducing or altering an assessed tax liability.


Penalties and interest average 30-40% of the overall tax debt so successful elimination of these is a high priority with your personal tax resolution plan. If there is a reasonable cause for abatement or adjustment, the IRS may be willing to review the penalties which created a tax liability.


    Our tax resolution firms pursue IRS tax abatement on penalties and interest for you, after all of your tax returns from all years have been filed and a monthly IRS payment has been established or renegotiated for you.


   Get IRS Tax Relief Now


IRS Tax Debt


When business owners are unable to meet their IRS payroll tax obligations, a trust fund tax liability is created. The IRS is aggressive in enforcement of trust fund taxes, and does not allow trust fund tax to be discharged in a bankruptcy, no matter how old the tax liability. This means that if you owe delinquent payroll tax, you must address the liability and let our tax experts find a solution for you.


The IRS reports that approximately 2 million businesses owe almost $50 billion in payroll tax. The IRS is increasing its enforcement actions, so the probability of facing a lien, levy or other action is increasing very significantly. To determine if you may have a trust fund tax liability there are two primary determinations:


IRS Tax Debt

1.) Whether you are responsible for collecting or paying withheld income and employment taxes. There are two main methods used to appeal IRS collection actions. The first is a CDP appeal and the second is a CAP appeal. A CDP Appeal must be filed within 30 days of a final notice of intent to levy. This allows a senior technical advisor within the IRS to review the case. This means it is being taken from the collection division of the IRS, who are far more aggressive concerning these matters. In most instances, you will receive much better results filing a CDP Appeal.

2.) Whether you "willfully failed" to collect or perform your obligations. Typically, the IRS has the right to take enforcement action against anyone who meets these determinant tests, even if they were not an officer or employee of the corporation which originally collected the payroll taxes.




Tax lien

tax lien is a statutory right obtained by the government to enforce a claim against the property of a person owing taxes until the debt is paid. 


tax debt relief




Or, contact us today for a free tax debt relief consultation at 844-243-4405.

Because they are public records they will show up on your credit report, tax liens can often make it difficult for you to obtain financing on an automobile or a home. The IRS may take money from your paycheck or bank account, seize assets, or place a Lien on your home or other assets.

                          tax debt relief


Or, contact us today for a free tax debt relief consultation at 844-243-4405.

We can often prevent this or have these lifted so you can afford to pay your bills. If you are presently dealing with, or concerned about a lien, levy, or garnishment we can help. Remember, the earlier we address the problem the more successful we are likely to be. 


                                       tax debt relief

Ignoring a tax problem is usually asking for a bigger problem, and may limit our ability to help you out of it. Tax Liens also can tie up your personal property and real estate. Once a Tax Lien is filed against your property you cannot sell or transfer the property.

                                                       tax debt relief


Or, contact us today for a free tax debt relief consultation at 844-243-4405.

Friday, July 17, 2020

Understanding Tax Resolution

Tax

Attention: Going Crazy Understanding And Filing Taxes? Make Sure You Read This Page Before Losing Out On Your Sanity…! 



Filing Income Taxes

Does The Mere Thought Of Filing Your Taxes Gives You Nightmares? Lost Sleep Thinking About How To Manage Your Returns? Feeling Like You Have Lost Your Way In A Jungle With No One To Help Out? Are You Super Confused And Don't Know Where To Even Start?



Filing Income Taxes

 Finally, A Complete Guide That Teaches You The Essential Basics Of Federal Income Taxes - And Gives You Excellent Tips To Make Your Filing As Smooth As Butter… And Saves You Loads Of Money, Time, Hassles, And Unwanted Stress…! 

Filing Income Taxes

Introducing! The Secrets To Understanding Taxes Filing Like A Pro!

"Tax Methology"

  • Individual Tax Saving Ideas
  • Tax Saving Measures For Business
  • The Tax Audit
  • The Ins And Outs Of Federal Payroll Taxes
  • Why People File Taxes Online
  • What Are Your County Property Taxes Used For?
  • Offering Personal Financial Advice -Ameriprise Financial Services
  • Using Free Tax Preparation Software
  • Consulting Tax Attorneys - Tax Law Specialists
  • Delinquent Property Taxes- Three Steps To Deal With Your Delinquent Property Taxes



Filing Income Taxes
  • Federal Income Taxes - How To Deal With Federal Income Taxes?
  • File State Taxes- E-File System Is The Best Way To File Your State Taxes
  • Filing Income Taxes - How To File Income Taxes?
  • Financial Planning Software- Nine Benefits Of Financial Planning Software
  • Free Taxes- Benefits Of Filing Free Taxes Online
  • Income Tax Forms - Three Must To Follow If You Desire To Fill Your Income Tax For
  • ms Yourself LLC Tax Savings- How To Avail LLC Tax Savings
  • Benefits Of Online Tax Forms Over Traditional Methods
  • Save On Taxes By Refinancing Your Mortgage
  • Save On Taxes By Spending Less On Credit
  • Save On Taxes By Investing In Life Insurance
  • Save On Taxes: Hot Tips
Filing Income Taxes

  • Save On Taxes With Tax Deductions
  • Federal Tax Law 2005 For Nonprofit Organizations
  • Understanding California State Taxes
  • Make Your Personal Finances Work for You
  • The Importance of Acquiring a Financial Planning Certificate
  • Social Development and Financial Planning
  • An Overview Of Hennepin County Property Taxes
  • Kentucky State Taxes
  • Maryland State Taxes
  • Ohio State Taxes
  • UBS Financial Services For Small And Large Business
  • What Is A VP Financial Planner?


Filing Income Taxes



5 Reasons to Hire a Tax Law Attorney

Tax Law Attorney

5 Reasons to Hire a Tax Law Attorney

Tax Law Attorney

1. Why should you hire a tax law attorney? First, facing the IRS means that you either haven't hired an accountant, or your current accountant has done a pretty bad job of managing your finances. This means that it is already too late to hire another CPA to fix your problem. The IRS has already done the math, so you will be wasting resources if you hire another person to do it all over again. You need to focus on areas that you still need to prepare for. What you need is a competent tax attorney to help you with the legalities that you will be facing.

Tax Law Attorney


2. Another advantage that tax attorneys have over CPAs is a deep understanding of the ambiguity of tax law. CPAs are trained to recognize something as either black or white. They are trained to categorize things very specifically and may not recognize the various gray areas of tax law. A good tax attorney knows that the law can have a thousand different interpretations and uses this fact to your advantage. 

Tax Law Attorney


3. A tax law attorney can also help you by giving you truly complete advice. This is because they are experienced in matters involving tax laws. A tax attorney will be able to give you advice on different legal measures that you can take to solve your Tax problems. A CPA can only help you in terms of fixing your budget or computing your taxes but can offer very little help regarding how to fix your tax problems.


Tax Law Attorney

4. The IRS can use different techniques to intimidate you into paying the amount that they will insist you owe. People who are unfamiliar with the methods of the IRS often pay this amount without taking the time to question why. A good tax law attorney can help you get over your fear of the IRS and meet them on the legal battleground. A good tax attorney will have the resources necessary to help you overcome any intimidation tactics that the IRS may use to force you to pay
Tax Law Attorney


5. The best reason that you can have to hire a tax law attorney is the fact that taxes are based on laws. This means that taxes are the natural stomping grounds of tax attorneys. They know their ways around it and they know how to survive it. A tax attorney, on the other hand, can show you a lot of things you can do to legally get the IRS off your back. A good tax law attorney can help you by giving you various tips on how to compromise with the IRS and end up paying much less than what you might think is your due.

Tax Law Attorney


Sunday, July 12, 2020

TAX RESOLUTION SERVICES

offers in compromise tax liability

TAX RESOLUTION SERVICES


Offer in Compromise (OIC) 

An OIC is an agreement between a taxpayer and the IRS that settles the taxpayer’s tax liabilities for less than the full amount owed. The OIC is a great program for the right candidate. Our experienced staff of tax professionals will gladly discuss all the options you may qualify for. The IRS may consider an OIC based on three grounds:

Tax Offers In Compromise

1. Doubt as to Collect-ability – Doubt exists that the taxpayer could ever pay the full amount of tax liability. 
2. Doubt as to Liability - A legitimate doubt exists that the assessed tax liability is correct. 
3. Effective Tax Administration – There is potential for the IRS to collect the full amount. However, an exceptional circumstance exists that would cause the taxpayer to suffer economic hardship or be unfair and inequitable.


Installment Agreements
There are a variety of installment agreements available that when properly implemented will allow you to repay your tax liability in a comfortable and manageable way. When it comes to installment agreements, having an attorney on your side that knows your rights will ensure you receive the best possible terms from the IRS or State Tax Agencies.


Tax Resolution

Tax Return Preparation 
The value of having an attorney review and prepare your tax returns could mean hundreds or even thousands of additional dollars in your pocket. Our attorneys are experts in preparing personal and business tax returns. We even pull your master file directly from the IRS database and verify exactly what has been reported as income. Having your tax returns properly prepared is the first step to resolving your tax issues.

Tax Resolution

Penalty Abatement 
Penalties can increase your tax liability by thousands of dollars. Many taxpayers may qualify for penalty relief. This service requires an understanding of what the IRS will accept as a reasonable cause for the failure to file or pay. If you have reasonable cause it must then be presented in a well documented format to the IRS for consideration. As experts we will evaluate, prepare and submit all the required information to ensure the largest possible reduction in accrued penalties.

Tax Relief

Innocent Spouse
Innocent Spouse can release your responsibility for paying tax, interest, and penalties if your spouse (or former spouse) improperly reported items or omitted items on your tax return. The tax laws and process to file for this relief can be complicated and should be addressed by an experienced tax professional. Our attorneys will prepare and submit all the required documents ensuring the best possible outcome. In addition to Innocent Spouse there are several other options that you may qualify for to provide the needed relief.


Additional Services 
Tax resolution experts provides many additional services to resolve any tax issue you may have. Contact our tax professionals today for a free consultation and take the first step to getting your tax issues properly resolved.