Protecting Your Finances: Look Out for These Red Flags for a Tax Audit
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Protecting Your Finances: Look Out for These Red Flags for a Tax Audit

Receiving a letter from the IRS stating that your information “does not agree” with their records is a daunting prospect. In short, you’re being audited. Although the IRS audits less than 1% of all tax returns, the following are red flags for an IRS audit and could increase your chances of being scrutinized.

Demystifying IRS Online Payment Plans: What You Need to Know
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Demystifying IRS Online Payment Plans: What You Need to Know

The IRS offers online payment plans to help taxpayers manage their tax debt. By breaking down the amount owed into monthly payments, individuals can avoid the financial strain of a lump sum payment. These plans also help prevent severe consequences like liens or wage garnishment. Applying for a payment plan is straightforward, and taxpayers have the flexibility to choose their monthly payment amount based on their financial situation. However, it’s important to note that for larger amounts of tax debt, approval for a payment plan is at the discretion of the IRS, and seeking legal advice may be beneficial.

Should I file for an S-Corp or an LLC?
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Should I file for an S-Corp or an LLC?

S Corp vs LLC: Which is Right for Your Business? An S-Corp and an LLC both offer limited liability protection, meaning the owners are not personally responsible for business debts and liabilities. They also both allow for pass-through taxation, where the profits or losses of the business pass through to the owners’ personal tax return…

Protect Your Finances: How a Tax Attorney in Atlanta Can Safeguard Your Assets
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Protect Your Finances: How a Tax Attorney in Atlanta Can Safeguard Your Assets

the role of a tax attorney in Atlanta extends far beyond basic tax advice. These professionals are essential allies in navigating the intricate landscape of financial and legal challenges, offering expert guidance tailored to the unique needs of individuals and businesses alike.