What is Comprehensive Financial Planning?

What is Comprehensive Financial Planning?

Comprehensive financial planning is a must-have skill for anyone who wants to achieve financial freedom. However, even the most successful people need help from time to time. That’s why having a plan for your future is so important. Financial planning is more...
What is the Failure to Pay Penalty?

What is the Failure to Pay Penalty?

The “Failure to Pay” penalty is a punitive fine levied by the Internal Revenue Service for not paying the tax that you stated you owe on your return. The penalty the IRS charges is based on a percentage of the money you owe. However, the penalty will not exceed 25...
What is IRS Representation?

What is IRS Representation?

One of the most dreaded things for a business owner is receiving an audit letter from the Internal Revenue Service (IRS). Such a letter could bring your business to a halt because of confusion, panic, and financial consequences that might follow. This is true if your...
Time is running out do you need to file an extension?

Time is running out do you need to file an extension?

There is no need to panic if you miss the deadline to file your taxes. You can fill out a free form 4868 and file for an extension. If you file for an extension, then you have until October 15 to file your taxes. Keep in mind that filing an extension does not absolve...
What Makes a Good Tax Preparer?

What Makes a Good Tax Preparer?

As tax season closes in, you can’t put off searching for a tax specialist, however, you can’t choose the first tax preparer that you come across. Locating a tax professional is rather easy, but picking the right one for you may be more challenging. When looking for a...
How Is Taxable Income Determined?

How Is Taxable Income Determined?

A majority of people in the U.S. have various forms of income such as, wages through a job, investment returns, business income, Social Security benefits, and more. There is both taxable and non-taxable income, which can make it hard to determine how much taxable...
Do I Really Need IRS Audit Representation?

Do I Really Need IRS Audit Representation?

The Need for IRS Audit Representation All too often businesses and individuals are frightened by the word “audit” as it relates to taxes and the IRS. The best way to approach an IRS audit is to seek the services of an experienced tax professional whose...
What are the different types of business taxes?

What are the different types of business taxes?

Business taxes refer to taxes paid to a government by business entities, such as corporations. There are many different types of business taxes, and they cover many other areas of the economy. Taxes include a wide range of fees that businesses pay to the government to...
How is taxable income is determined?

How is taxable income is determined?

Would you like to know how taxable income is determined? If you’re reading this article, then chances are that you’re about to begin the process of filing your taxes. We won’t dwell too long on how difficult it can be to do sometimes but instead,...
How do you plan for retirement?

How do you plan for retirement?

It’s good that you have had a fulfilling career, and you should now plan for the next step. It involves preparing for your retirement, which involves a well-calculated plan. You have to consider all the available avenues to ensure the best results. However, this...