Category: Tax problem
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Realtors use taxproblems.cpa
Realtors at the top of the industry in sales production sometimes struggle with tax problems. Other life struggles are often a top concern. Two tools help: 1) a fnancial plan that prioritizes goals , 2) the ability to set aside fears and stress to work the plan.
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Seven foundational concepts of professional tax practice
Seven foundational concepts of professional tax practice:
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Why does Congress protect tax cheaters?
The issue of tax cheating, audits, and enforcement have been in the news lately. The topic is of growing concern in my daily business conversations. This post describes my own experiences. Background Despite evidence that tax cheating by high income earners has soared over the past decade and that more recent Congressional action is making…
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Top 10 IRS audit triggers and what you should do about it if you are at risk
Here are the top 10 IRS tax audit triggers, as compiled and published by The Wall Street Journal1 on March 5, 2022:1. Education tax credits2. Small businesses3. Child tax credit4. Cryptocurrency5. Earned income tax credit6. Large charitable deductions7. Rental income8. Home office deductions9. Early withdrawals from IRAs and 401(k)s10. Health premium tax credit If you…
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Disagree with IRS? Seven bullet points to know first
If you received a written notice from IRS this year, you are among the largest number of taxpayers ever to be among this group. This post lists seven basic bullet points to consider first: IRS communicates through letters delivered via U.S. mail service. Communications via text message, phone, overnight delivery, email or fax are highly…
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What to do if you receive a ‘Notice of Intent to Levy’ from IRS
Beginning tomorrow, the IRS intends to dramatically increase the number of aggressive enforcement action notifications. Thousands will receive these scary notices within the week. Collections using new technology and aggressive techniques will likely continue to ramp up over the next few years. If you receive a collection notice, I strongly recommend: don’t panic, most tax…