Getting help with tax problems is not as difficult as you may think. While you can research your problem online to try to handle it yourself, it is usually best to turn to a professional unless your issue is relatively minor. Several types of professionals may be able to assist you, including tax preparers,
Many businesses can still qualify for the Employee Retention Credit (ERC). This IRS tax credit was passed in 2020 in response to the pandemic but was expanded several times and continued through September 30, 2021. The purpose of the credit was to help employers afford to retain their employees rather than lay them off.
Note: This blog first appeared on Supportingstrategies.com. By Cheri Giglia You can move forward with confidence when you've got solid financials to fall back on — starting with good bookkeeping and controller services support. Whether you’re planning to add a new line of business, open a new location, or simply upgrade equipment, following these bookkeeping tips will help
One of the few bright spots of the pandemic has been a blossoming of a new bike boom. Cycling in the US has long been a part of a fitness portfolio for many. With the success of Lance Armstrong, came a proliferation of the spandex wearing pace lining club riders and fund-raising century rides. However,
By Bruce Stout With the Zoom revolution, attorneys are reaching out to network on an unprecedented scale. Increased receivables instill a new energy to make rain. They often spend hours cultivating what they believe to be potential referral sources only to be disappointed later when no prospects materialize. Or the ones that are referred
Startup companies can obtain immediate cash flow and payroll tax savings through the R&D Payroll Tax Credit – this complements the CARES ACT. The Protecting Americans from Tax Hikes Act (PATH Act) provides that certain startup companies may elect to use the research tax credit to offset the social security (OASDI) payroll tax liability. A corporation or
Around the country, sales tax laws have undergone major changes in the last year. Now New York has joined in with its own changes. Out-of-state retailers of tangible products who sell to customers in New York and New York-based retailers who sell to other states must understand the new rules, which particularly affect online
Have you failed to file a tax return or underpaid your taxes to New York State? New York’s Voluntary Disclosure Program can help you. The Program is designed to entice taxpayers back into the system by allowing non-filers and under-filers to come forward and avoid criminal prosecution and steep late filing and late payment penalties.
Many seniors and their families shy away from consulting a lawyer to plan for long-term care needs or to optimize Medicaid benefits, often because they are afraid of the cost involved. But to the contrary, hiring the right team of professionals can help you avoid the costly mistakes and pitfalls the Medicaid system presents.
If you owe more in back taxes than you have in assets and income, the IRS may provide a remedy. An IRS Offer in Compromise (OIC) is an agreement between the taxpayer and the IRS to settle the taxpayer’s liabilities for less than the full amount owed. However, there are strict requirements for an OIC and
By: Matthew E. Rappaport, Esq., LL.M. Part of my law practice involves tax and asset protection planning for Trusts & Estates matters. One of the most common mistakes I see from clients, even those who have consulted seasoned practitioners, is a failure to tailor their planning to their specific assets. Two of the asset
