Tax Loopholes News

Which Way Is Your Business Going?

These days, it seems like there are two types of business owners:

Those that are closing their business or are about to, and
Those that are making more money then ever before.

In Category #1: There are a couple of reasons why the business owners are closing down. It could be that they realize it’s ...

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  1. IRS Changing Tax Lien Policy
  2. IRS Foul-up Cost Taxpayers
  3. The One Question Savvy Business Owners Are Asking Their Hosting Companies

IRS Changing Tax Lien Policy

Finally some good news from the IRS. They are going to file fewer tax liens. The IRS files tax liens against property when there are unpaid taxes. Currently, they file liens automatically when there is past due tax of $5,000 or more. They will be increasing the threshold to $10,000. ...

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  1. IRS Foul-up Cost Taxpayers
  2. Changing the Character of Your Income
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IRS Foul-up Cost Taxpayers

Blame it on new hires with inadequate training or blame it on untested computer programs that went live too soon. Whatever the reason, the IRS is making some big mistakes these days.
Here are just a few of the ones that we’ve dealt with at US TaxAid Services this week:

• One client had an ...

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Must Have’s for Independent Contractor Agreements

You may have discovered that some of the best tax loopholes happen when you, your spouse and your minor children are the only employees. That means that everyone who works ...

Three Reasons to Love Your LLC

Part of a good tax plan means looking at your business structure. The best business structure for you can save you taxes and protect your assets. That’s why Diane Kennedy ...