Tag Archives: taxpayers
Tax Scams
Thursday, May 6, 2010 // 0 Comments // Tax Law
Some scammers claim that by starting a home-based business, taxpayers can deduct many personal expenses as “business” expenses. Other schemes involve offshore transactions in foreign countries that have financial secrecy laws. As a general rule of thumb, taxpayers should be wary of anything that sounds too good to be true. Even if they are duped, [...]
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 itFrivolous Anti-Tax Arguments
Thursday, May 6, 2010 // 0 Comments // Tax Law
Although payment of federal taxes is a well-established precedent in the United States, sometimes individuals and groups claim that taxes are illegal. These groups often lure unsuspecting taxpayers into agreement with their schemes. Unfortunately, taxpayers who refuse to pay the taxes owed may incur penalties and legal action on the grounds of tax evasion. Anti-tax [...]
Read more & Talk about itDo I have to pay the Alternative Minimum Tax?
Thursday, May 6, 2010 // 0 Comments // FAQs
Determining whether you’re required to pay the AMT is tricky, as a number of things on your return can effect liability. Typically, an AMT exemption is offered to taxpayers with moderate income levels, but after reaching a certain point the AMT still applies. Because calculations are complicated, it’s smart to consult a professional accountant with [...]
Read more & Talk about itI’m planning to start a small business, but I’m worried I’ll do something wrong and violate IRS rules. What can I do to avoid trouble?
Thursday, May 6, 2010 // 0 Comments // FAQs
The best way to avoid problems is to keep detailed records and to seek the advice of financial professionals. For example, if you’re making deductions for auto expenses and for advertising, you’ll need to keep all canceled checks and other documents pertaining to those deductions. Be especially vigilant with maintaining records for travel, entertainment, and [...]
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 itBusiness Strategies
Thursday, May 6, 2010 // 0 Comments // Financial Guides
With a strategic plan, businesses can anticipate future needs and implement policies with an eye on reaching goals. Without a plan, a business may find itself functioning haphazardly, without understanding the impact of present decisions on future outcomes. Developing a proper plan takes time, expertise, and assessment of financials. Four Brothers Financial, LLC. is staffed [...]
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 itTax-Law For Individuals
Thursday, May 6, 2010 // 4 Comments // News
Alternative Minimum Tax (AMT) There are several changes affecting Alternative Minimum Tax for 2009. Child-Related Tax Changes Information on adoption benefits, child’s investment income, the definition of a qualifying child, and additional child tax credit. COBRA Premium Assistance P.L. 111-118 made changes to the COBRA premium assistance provisions. Decreased Estimated Tax Payments for Qualified Individuals [...]
Read more & Talk about itInvestment Strategies
Friday, January 1, 2010 // 0 Comments // Financial Guides
It’s wise to consider developing strategies for both short-term and long-term investments. Investing randomly fails to generate the best returns, but strategizing to make investments work together helps achieve a better outcome for your portfolio. Seeking the guidance of financial professionals enables you to coordinate your investments and make smart decisions about what to buy [...]
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