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The Pros And Cons Of An Offer In Compromise

Pros and Cons of an Offer in Compromise

For many, the phrase “tax debt” is a daunting and stressful set of words. Paying any sort of debt is stressful, but with tax debt especially, and depending on how much you owe, you can be hounded by the IRS for a long time. It can be extremely difficult to pay off tax debt: you…

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Why You Should File Your Taxes Early

Tax Preparation

You’ve heard it before. It’s a piece of advice you’ve heard over and over again, and you still don’t take it into consideration as often as you should: File your taxes early! Sure, the deadline is roughly a couple of months away but that doesn’t mean you should keep procrastinating. There are obvious benefits to…

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Reduce Your Taxes By Making Your Spouse Your Business Partner!

Reduce your taxes. Make your spouse your business partner.

Strategy Overview It works like this: You own an existing sole proprietorship or want to start a new business. You and your spouse form a general partnership or limited liability company to manage the business. You and your spouse provide cash or property for your interests in the new business. Your spouse does not participate…

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Tax Cuts and Jobs Act

On Friday, December 22, 2017, the “Tax Cuts and Jobs Act” was signed into law by President Trump. Most of these provisions go into law January 1, 2018. We have put together a side-by-side comparison of current law and the “Tax Cuts and Jobs Act” changes. There are numerous tax planning issues facing both individuals and business owners.

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Hurricane Irma Tax Relief

H.R. 3823, the “Disaster Tax Relief . . . Act of 2017” gives tax relief to victims of Hurricane Irma. Here are some of the ways that this Act does this.

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