If you owe back taxes you might think you need a tax attorney, but that’s not necessarily always the case. Just like hiring a traditional accountant to try to resolve your tax debt might not be the best choice, hiring a tax attorney, who doesn’t specialize in tax resolution might be the same thing. When […]
Tax Resolution
Filing Your Taxes When You Know You’ll Owe Money to The IRS
As we wrap up the year the last thing most people are thinking about is their taxes. But planning ahead can have a serious impact on your tax bill next year, especially if you know you’ll owe taxes. In this article, we’ll talk about some steps you must take if you know you’ll be owing […]
What Is Tax-Loss Harvesting?
Tax-loss harvesting is about minimizing capital gains taxes on your investment portfolio. With care, you can keep more money in your account rather than giving it to the IRS. Read on to see how several strategies work. Tax-loss harvesting offsets capital gains that result from selling securities at a profit, and it is applicable to […]
Did You Know You Might Owe Taxes On Debt That’s Forgiven? Here’s How It Works.
When you owe creditors money that you can’t afford to repay, sometimes you may be able to get the debt forgiven or otherwise canceled. When this happens, you no longer owe your creditors the money that you used to owe them. The IRS, however, usually treats such canceled debt as income that you’ve received. Income […]
Did You Make Money with Cryptocurrency? How to Get Right with the IRS
Did You Make Money with Cryptocurrency? How to Get Right with the IRS For early adopters of Bitcoin, Ethereum and other popular cryptocurrencies, the profit potential has been simply stunning. While there have been some heart stopping moments and frightening ups and downs, the clear long-term trajectory has been upward. If you are one of […]
What is a Levy? IRS and Other Asset Levies Explained
What is a Levy? IRS and Other Asset Levies Explained Falling behind on your debts is never a fun place to be. It’s less fun when a levy is placed on your assets. In this article, we take a look at what an IRS levy is, why it happens, and what you can do about […]