Tag Archives: CPA
Offer in Compromise
Thursday, May 6, 2010 // 0 Comments // Tax Law
When taxpayers fail to pay their tax debts within IRS deadlines, options such as the Offer in Compromise (OIC) exist to facilitate settlement. The goal of an OIC is to find a tax solution that resolves debt in a way that’s satisfactory to both the government and the taxpayer. Compromise is key. Although the IRS [...]
Read more & Talk about itAppealing the Filing of a Lien
Thursday, May 6, 2010 // 0 Comments // Tax Law
The IRS must provide written notice of a lien within five days of its filing. Once taxpayers receive that notice, they may opt to request a Collection Due Process hearing with the Office of Appeals. The paperwork involved may become tricky, as you must file with the specific office listed on the Notice of Appeal, [...]
Read more & Talk about itIRS Collection Process
Thursday, May 6, 2010 // 0 Comments // Tax Law
When a taxpayer fails to file a return and pay money owed in a timely manner, the IRS initiates the collection process. The first step in this process is sending the taxpayer an official bill, called a notice. Along with the notice, taxpayers receive documents explaining their rights and the various options for achieving payment. [...]
Read more & Talk about itTax Strategies for Business Owners
Thursday, May 6, 2010 // 0 Comments // Financial Guides
Business tax strategies are generally aimed at reducing tax liabilities and maximizing credits and deductions. Planning in advance is key to successful strategizing, as is diligent recordkeeping. Businesses benefit from individualized planning to meet their specific needs, since strategies that may help a business at one income level could actually hurt a business at a [...]
Read more & Talk about itNon-Filed Tax Returns
Thursday, May 6, 2010 // 0 Comments // Tax Services
If you have non-filed returns from past years, it’s only a matter of time before the IRS investigates. Four Brothers Financial, LLC. will help you file those returns and gain peace of mind. Filing returns voluntarily is the best course of action. » If the IRS discovers the delinquency and files for you, they will [...]
Read more & Talk about itTax Planning
Thursday, May 6, 2010 // 0 Comments // Tax Services
Four Brothers Financial, LLC. specializes in tax planning for individuals and businesses. As a smaller firm, we offer personalized attention and one-on-one consultation to all our clients. Our goal is to help clients understand and plan their finances, facilitating smart financial decisions year-round. Tax laws and regulations are changing all the time, and our CPAs and [...]
Read more & Talk about itCPA vs Accountant/Bookkeeper
Thursday, May 6, 2010 // 1 Comment // News
A bookkeeper is a broad, basic job function in accounting usually without any formal education. By definition, it is someone who records the accounts or transactions of a business. The “books” refer to the financial records of a business whether actually kept in books or on computer software. The bookkeeper might also make bank deposits, [...]
Read more & Talk about itTax Preparer Fraud
Friday, January 1, 2010 // 0 Comments // Tax Law
Sometimes naïve taxpayers hire fraudulent preparers who exaggerate business and personal expense deductions and credits. When the illegal return is discovered, the IRS holds taxpayers accountable regardless of whether they had knowledge of the preparer’s actions. The taxpayer could face payment of additional taxes and possible criminal prosecution. Therefore, it’s in the best interests of [...]
Read more & Talk about itTax Strategies for Individuals
Friday, January 1, 2010 // 1 Comment // Financial Guides
With proper planning, individuals can utilize strategies to reduce their tax bills. The CPAs of Four Brothers Financial, LLC. are experts at identifying and implementing these strategies for you. Our goal is to help you save money. Tax strategies include: Recordkeeping: We’ll help you develop accurate and efficient recordkeeping. Maximizing Deductions: With full knowledge of [...]
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