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Every year people in Marietta fall victim to IRS law tax scams. Scammers try to bully or take advantage of you and use scare tactics posing as the IRS. Some scammers are so slick they talk you into sending money before you even know what hit you. A little education can go along way to [...]
There is an age-old saying - the two things in life that are guaranteed are death and taxes. Surprisingly, when tax law intersects with bankruptcy law, some taxes may actually be dischargeable in bankruptcy. Understanding taxes and how they are handled in bankruptcy can be complex. If you are considering bankruptcy, you will want to [...]
In most years, for most people, natural disasters play no part in filing their federal income tax returns. Nonetheless, 2017 was that rare year when natural disasters likely affected millions of tax filings. In August and September 2017, three powerful hurricanes in rapid succession struck U.S. territory: Hurricane Harvey created historic flooding in Texas, Hurricane [...]
If you owe income taxes from your self-employment or because of your small business -- be it a sole proprietorship, partnership, S-corp or some other small-business organization that files taxes on your individual return – you might find that your tax liability exceeds your ability to repay, or at least your ability to repay immediately. [...]
You might have heard that the Republicans’ Tax Cuts and Jobs Act has repealed the individual mandate created by Obamacare. Unfortunately, the mandate is still in effect for the 2017 tax year, so filers who did not buy insurance are still subject to the penalties. This “shared responsibility” payment will be 2.5% of your household [...]
When filing your tax returns, you do not need to submit documentation that supports your business or personal deductions. However, the IRS can request this information on demand, so you definitely want to have documented proof in your files just in case. The documentation you need will depend on whether you are claiming a business [...]