As a non-citizen of the United States or living abroad, filing a first-time tax can be challenging. You have no experience and what it takes to file tax for the first time correctly....
Posted by CORE PERFORMANCE on 06/24/2022
Sometimes a debtor could be overwhelmed by debt repayments and may need to negotiate for debt cancellation. If you get one, the IRS considers it an income, and it is taxable. That's...
Posted by CORE PERFORMANCE on 05/22/2022
As the year winds up, many might feel it is too late to get any savings on their tax. However, no matter what you already earned as income, there are some moves you can make to reduce...
Posted by Karen Munoz, EA on 11/21/2021
Forgiveness of debts, also known as debt cancellation, is a relief to anyone who has been in debt. But what happens afterward with the taxes? When your debt is canceled or forgiven,...
Posted by CORE PERFORMANCE on 07/31/2021
Tax season is usually hectic for many businesses, with many things to keep tabs on. Of course, running a business is stressful, but adding tax preparation excesses can make it horrible. However,...
Posted by Carmen Garcia on 06/11/2021
Income from fundraising is not considered a taxable source of income by the IRS. Tax fundraising laws define donations as gifts, which recipients do not have to report on their tax...
Posted by Flynn Financial Group Inc on 05/29/2021
A joint tax filing return makes both parties responsible for the tax bill. It removes the need to foot additional tax debt with an innocent spouse relief if your partner or ex-partner...
Posted by CORE PERFORMANCE on 05/06/2021
The IRS assesses penalties and interest on the employer's account when they fail to collect, report, and remit payroll taxes. You may be personally liable for failure to withhold...
Posted by Carmen Garcia on 03/31/2021
When starting a business, one of the first decisions you'll face is what type of business to register for. The type of business you choose will affect your taxes, obligations,...
Posted by CORE PERFORMANCE on 03/26/2021
