By 2020, about one-third of American workers will be self-employed. A whopping 97% of these workers prefer self-employment over traditional W-2 positions. But for all the perks of nontraditional careers, there’s one problem. It’s a tax nightmare. If you’re one of the millions of workers taking up self-employment this year, you may not know where to start.… Continue reading Estimated Tax Payments: How to Determine What to Pay and When
Tag: #TaxRelief
Decoding IRS Reference Number 9001: What Does It Mean?
If you’re looking into tax relief, you’re probably in a state of panic. You’re worried that you owe money to the IRS and you’re not sure how you’re going to pay it back. Then, when you try to check your return, it gets even worse: you get an error message with IRS reference code 9001.… Continue reading Decoding IRS Reference Number 9001: What Does It Mean?
7 Ways to Maximize Holiday Donations for the Best Tax Advantages
Giving is a part of the holiday culture. In 2016, $390 billion was donated to charity and forty percent of that came towards the end of the year. If you are concerned the IRS is on your back, you may owe the IRS money or if you just are one of the many people who generously… Continue reading 7 Ways to Maximize Holiday Donations for the Best Tax Advantages
How to Write a Penalty Abatement Letter
Dealing with tax debt and the penalties that come with it can be overwhelming. The IRS estimates that the number of taxpayers penalized for miscalculating or underpaying their taxes has risen to nearly 40%, so you are not alone if you are in this situation. When you owe money to the IRS, the collection process… Continue reading How to Write a Penalty Abatement Letter
What is Tax Negotiation and Tax Relief?
As much as we endeavor to be compliant citizens and file our taxes honestly and accurately, sometimes we make mistakes in our paperwork, and key information is misconstrued. Maybe you forgot to declare some freelance income because you didn’t receive a 1099 form, tried to write-off more business expenses than the IRS would accept, or… Continue reading What is Tax Negotiation and Tax Relief?