Did you goof and incorrectly classify an employee as an independent contractor? No need to panic. I can show you a perfectly legal way to avoid payroll taxes, penalties, and interest if you’ve incorrectly classified workers as 1099 independent contractors rather than W-2 employees. Want to find out more? I invite you to read my new article titled Tax Tips: New IRS … [Read more...]
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How to keep your 1099 from starting an IRS audit
Careful! An incorrect 1099 that overstates your income is a problem that can lead to a painful tax audit. What can cause errors? One huge cause of incorrect 1099s is a misunderstanding of what 1099 income really is. Another cause of problems is correcting your 1099 the wrong way. But don’t worry. We’ll clear up the confusion when you read our brand new article titled Tax … [Read more...]
Instant deductions for your start-up business
Thinking about starting a brand new business? Then you need to know how to deduct start-up costs right now. You see, the IRS lets you deduct costs the moment you start thinking about your new business. I know this sounds too good to be true but it is true as you’ll learn when you read my latest article titled Tax Tips: Tax Benefits for Thinking About and/or Starting a New … [Read more...]
Bank foreclosure auction
A foreclosure is always a sad event. But did you know that when the bank forecloses on a home, tax law comes into play in some surprising and often beneficial ways… especially this year? The fact is, tax law treats recourse and nonrecourse mortgages in completely different ways. If you want to learn how tax law treats recourse and nonrecourse home mortgages in a foreclosure, … [Read more...]
Say good-bye to unclaimed tax refunds
IMPORTANT! Did you know that you need to file a tax return, even when you are not legally required to file. That’s right. You need to file a return within the statute of limitations if you are due a refund and you want the cash. Get all the details when you read my new article titled Tax Tips: Say Good-bye to Unclaimed Tax Refunds. Three ways our fact-filled article can … [Read more...]