by Karla Dennis | Jul 16, 2013 | Blog
Each year the Internal Revenue Service sends millions of letters and notices to taxpayers for a variety of reasons. Here are eight things to know about IRS notices – just in case one shows up in your mailbox. 1. Don’t panic. Many of these letters can be dealt with simply and painlessly. They key is to open the letter and not ignore it. 2. There are a number of reasons why the IRS might send you a notice. Notices may request payment of taxes, notify you of changes to your account, or request additional information. The notice you receive normally covers a very specific issue about your account or tax return. read...
by Karla Dennis | Jul 16, 2013 | Blog
Les Brown is a top motivational speaker whose passion is empowering youth and showing them a larger vision for their futures. Les Brown’s life itself is a true testament to the power of positive thinking and the infinite human potential. Leslie C. Brown was born on February 17, 1945, in an abandoned building on a floor in Liberty City, a low-income section of Miami, Florida, and adopted at six weeks of age by Mrs. Mamie Brown, a 38 year old single woman, cafeteria cook and domestic worker who had very little education or financial means, but a very big heart and the desire to care for Les Brown and his twin brother, Wesley Brown. Les Brown calls himself “Mrs. Mamie Brown’s Baby Boy” and claims “All that I am and all that I ever hoped to be, I owe to my mother”. read...
by Karla Dennis | Jul 16, 2013 | Blog
A tax preparer is an accounting or tax professional that can help you file your tax returns as required every year. Well-known companies like H&R Block and Jackson-Hewitt promise fast and accurate tax preparation, but they are also known to charge a substantial fee for their services. Determining whether a tax preparer is right for you is something that depends on the complexity of your return and the potential savings a tax preparer could find for you. Typical tax preparer costs vary depending on the type of tax return you need to file; no two people are alike when it comes to tax preparation. Additionally, no two tax years are similar for the same individual. Tax preparer costs can run from several hundred to a few thousand dollars per return. With this in mind, it is important to speak to someone who knows the code that is affordable for the average tax filer. read...
by Karla Dennis | Jul 15, 2013 | Blog
Sixty percent of American taxpayers rely on tax preparers to arrange their taxes and find every single tax credit and deduction allowed. Many other taxpayers prepare their taxes on their own but unfortunately, many of them tend to make serious mistakes on their own returns. Cohesive Tax will offer you a free second look report on taxpayers previously filed returns. This program helps taxpayers ensure the accuracy of their 2007-2010 returns that were not prepared by Cohesive Tax. It is extremely common that taxpayers overlooked several valuable credits and deductions when completing their taxes. After having a Cohesive Tax second look, tax specialists have been able to find more money available to citizens, enabling them to amend their returns and get more money back. In some cases, this particular amount added up to thousands of dollars. read...
by Karla Dennis | Jul 15, 2013 | Blog
Sometimes it is important to get an estimate or two before doing your taxes. Getting a tax estimate helps you assess your position before deciding on what course of action or which tax preparer to utilize. If you’ve ever worked for another person, you know that social security and Medicare taxes get deducted from your paycheck. This is the easiest way for you to know whether or not you will end up getting money back from the IRS. If a taxpayer makes major life-changing moves (like marriage or having a child) that have a considerable impact on their taxes, it is wise to make withholding changes to make certain that withheld taxes are near what is actually owed. You can do this by using a tax estimate calculator. This calculator utilizes tables and regulations that are susceptible to modifications by the IRS and changes in the code. It’s also smart to estimate it just before filing your return form. It’s also possible to deduct expenditures for joining your local Chamber of Commerce or other networking associations that help you do your job. Distributions from S Corporations are generally not subject to self-employment taxes although these do help with a tax estimate. read...
