Key Tax Changes Could Affect Your Tax Situation in 2021
Key tax provisions in the American Rescue Plan Act of 2021 could affect your tax situation. Here’s what you need to know.
Settling Tax Debt With an IRS Offer in Compromise
An offer in compromise (OIC) is an agreement between a taxpayer and the Internal Revenue Service that settles a taxpayer’s tax liabilities for less than the full amount owed. That’s the good news. The bad news is that not everyone can use this option to settle tax debt; the IRS rejected nearly 60 percent of taxpayer-requested offers in compromise. If you owe money to the IRS and wonder if an IRS offer in compromise is the answer, here’s what you need to know.
7 Tips to Help You Start Saving for Retirement
It’s never too late to start, but the sooner you begin saving, the more time your money has to grow. Gains each year build on the prior year’s gains – that’s the power of compounding – and the best way to accumulate wealth. These ten tips will help you get started:
Tax Considerations When Selling Your Small Business
Selling a small to medium-sized business is a complex venture, and many business owners are not aware of the tax consequences.
Deductions for Food or Beverages From Restaurants
Beginning January 1, 2021, and extending through December 31, 2022, businesses can claim 100% of their food or beverage expenses paid to restaurants as long as the business owner (or an employee of the business) is present when food or beverages are provided, and the expense is not lavish or extravagant under the circumstances.
Email UpdatesEnter your email below
to subscribe to our
monthly newsletter.