by Karla Dennis | Nov 30, 2013 | Blog
You have probably heard jokes about the IRS and their ability to collect taxes. After all, there are two things in life that are unavoidable: death and taxes. Even with all this humor, many people are starting to wonder if the IRS is becoming more stringent in their rules for tax collecting. Your tax resolution specialist knows that it can be daunting to work with the IRS, but you shouldn’t feel like that particular branch of the government is turning up the heat for taxpayers. A lot of it is just the world we live in. Here are three reasons the IRS is becoming more effective in ensuring people pay their taxes. With the increased national debt, your tax resolution expert can see the importance of making sure people pay taxes. In 2006, the United States tax gap was $400 million, and those numbers have only increased. In order to make ends meet, the IRS has to put more pressure on taxpayers to make sure they are paying their share. It is becoming increasing important to have a tax resolution expert on your side when dealing with taxes because, while it is alright to pay your share, you don’t want to pay more than your correct portion. Another reason that tax laws have become more stringent is because of increased technology. Everything at the IRS is completely digitized, and computer programmers can create algorithms to identify citizens that choose not to pay the correct amount of taxes. Your tax resolution expert can help you fill out your taxes so that you don’t fall under the computer’s watchful eye. Finally,...
by Karla Dennis | Nov 27, 2013 | Blog
Today we would like to discuss some of the paperwork and source documents that you should gather when you are doing the bookkeeping. First, you should have source documents – documents that track the source of the transaction. These source documents include bank statements, cancelled checks, ATM receipts, Credit card statements, and cash receipts. Watch the video above for more information. Check out our Reverse Profit Calculator at http://ReverseProfit.com to find out what you need to do to meet your monthly and annual sales goals. read...
by Karla Dennis | Nov 26, 2013 | Blog
There are many fraudulent tax resolution deals that inundate the Internet and other means of communication, but how can you know which of these deals are false and which ones are real? The IRS recently released a list of common scams whose main goal is to take your money, not help you invest or save it. Here are some of the scams on that list: Identity theft headed up the list of common scams. Your tax resolution specialist knows that there are many companies that are trying to get your information, and they will tell you just about anything to get it. One of the best rules of thumb is this: if it’s too good to be true, it probably is. That means that if someone who claims to be a tax resolution specialist tells you that you don’t even have to pay any taxes, the chances are you’re being fed a scam. You should always research a tax resolution specialist before you ever agree to work with him or her. Return preparer fraud means that a tax resolution company will agree to prepare your tax documents for you only to confiscate the refund check. That is why researching a tax resolution company is so important. Make sure the company you choose is accredited to work with U.S. taxes. Don’t be afraid to ask for proof of credentials to ensure that you are working with a reputable company. The IRS also warned taxpayers of the promise of hiding money offshore to prevent you from paying taxes. Any good tax resolution specialist knows that you have to report all of...
by Karla Dennis | Nov 22, 2013 | Blog
If you have more tax debt than you have money in your pay check, you are not alone. Your tax resolution specialist has seen more and more claims from people who find themselves in the exact same situation. The good news is that, with your tax resolution specialist’s help, you have more options than your think. Here are some ways that you can lower some of the debt so that you can find your way to financial freedom. First, it is important that you talk with a tax resolution expert. The first thing that a tax resolution expert will do is go over all of your back taxes with a microscope. He or she will check for mistakes that will credit taxes back to you. There may also be deductions that you did not claim that will lower your tax debt as well. Second, if you have a lot of tax debt, the IRS may work with you. Your tax resolution specialist can help you fill out an Offer in Compromise with the IRS. That essentially means that you can prove that there is no way you could ever pay the amount of taxes that you owe, and so you are providing the IRS with a settlement amount of what you can pay. Your tax resolution specialist can help you decide the appropriate amount of money to settle on based on your current income and the incurring tax debt. There are some cases where you do not qualify for the Offer in Compromise offered by the IRS. In that case, your tax resolution specialist can help you devise a...
by Karla Dennis | Nov 20, 2013 | Blog
There are five things that you should pay specific attention to when you are taking a closer look at the bookkeeping practices in your business. Make Sure your bookkeeper has an accounting background Review the work that your bookkeeper is doing Make sure you are putting your records together with the proper documents Make sure the money you put into your business is categorized correctly, as a debt or additional equity Make sure that you are getting bookkeeping done every...
