Starting a business can be an exciting new adventure for those with an idea who wish to be self-employed. There are several things to consider, however, when you are opening...
Taxpayers are allowed to amend tax returns using the form 1040x if the following cases occur: a mistake was found in the tax return, failure to file eligible deductions or credit,...
Women tend to worry a lot about retirement. This is not surprising as women tend to live longer, and they typically need more health care plans compared to men. This makes it essential...
Before leaving the United States, all foreigners (except those listed below) must obtain a "Certificate of Compliance" from the United States Internal Revenue Service. This...
The Internal Revenue Code (IRC) talks about Title 26 of the U.S. Code. It is commonly called IRS Code or IRS tax code with laws enforced by the Internal Revenue Service. The United...
Posted by Elliot Kravitz, ATP on 08/28/2020
1031 exchange is simply a swap of an investment property for another. Since most swaps are considered sales, they are taxed. Meeting the requirement of 1031 will remove or reduce your...
The number of people that employ themselves is rising. This includes freelancers, gig workers, small business owners, and startup finders. It is not surprising that this sector is...
Posted by Elliot Kravitz, ATP on 07/16/2020
We all come to points in our life when we have to borrow money. It could be student loans to finance your education, mortgage to buy a house, or loan for your first vehicle. It could...
Taxes that you did not pay for years are called back taxes. These taxes are due for at least a year and come with interest and penalties until paid. Many people owe back taxes and...