Have you ever started to prepare to do your taxes or send information to your tax attorneys and found that you were delayed because you did not have one or more documents you needed? Not only is it frustrating, but it also delays the filing of your taxes. If you are getting a tax refund, […]
When you are ready to file taxes, you can file online, or you can choose to use a tax attorney. Both methods have benefits, though those with more complicated tax scenarios might be better off filing with a business tax attorney; unless they have extensive knowledge of tax law. Regardless of which method you choose, […]
Some businesses might benefit from filing their taxes later, rather than sooner. If your business taxes pass through to your personal taxes, filing later gives you more time to max out your retirement deposits, find all those receipts, or get your deductions in order. However, you have to remember, while you can get an extension […]
Sometimes, you just have to close a business. Whether it is because of the economy, death, or because you can no longer manage the business, it’s always a huge decision. Once you make the decision, you must follow steps to close the business. If you are closing shop because the owner died and no family […]
A legally-binding will provides detailed instructions on how your assets are divided among friends, family members, and loved ones after you pass. The document puts the force of law behind your wishes. It may also create substantial tax benefits in conjunction with effective estate planning. The unwelcome alternative would be to allow the state to […]
Because of the extensive changes in the tax law, you should contact a business tax attorney to help you with taxes. Even if you are working on your individual taxes, you should work with a tax professional. Before you have someone help you with your taxes, be sure everything is in order.
Update Your Beneficiary Designations
At […]
Preparing business taxes is not a simple thing to do, even if you are a sole proprietor. Depending on how your business is set up, you may have to file different schedules. If you are a partnership, you don’t file taxes—you file an information return. Self-employed usually file Schedule SE and other types of businesses […]
Between interactive software programs and simplifications to the federal code, filing your taxes may be easier than it has been in decades.
If you’re an hourly or salaried employee, perhaps you can sidestep the cost of hiring professional help. But if you own a business, manage a trust or have multiple investments, filing your taxes may […]
If you or your business, reside in an “affected area,” you are automatically granted relief from certain deadlines (Treas. Reg. §301.7508A-1(c)). In addition to those direct taxpayers, if your business records necessary to meet the deadline are located in an “affected area” you are also entitled to relief,” in addition to relief workers, and any […]
If the Tax Cuts and Jobs Act of 2017 taught everyday Americans one thing, it’s that politicians have vastly different ideas about fair and equitable taxation. Each state has its own standards about how much to tax people on income, real estate, personal property, retail sales and even automobiles in some places.
With tax reform […]
