TAX REPRESENTATION FROM A FORMER IRS EMPLOYEE
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If you've been working a side hustle, you may be wondering if you need to claim that income on your taxes. It can be confusing to determine what is and isn't taxable, and many people choose not to report their freelance income out of fear of being audited. What does...
Estate planning can bring numerous benefits to family members. It can ensure that those who you treasure most live in financial security should something happen to you. You can also make plans for your children in terms of who will look after them. Despite the...
Tax evasion is a serious crime to be accused of, but you should know that most people won’t be unless they have willfully attempted to avoid paying tax. Tax evasion happens only when someone or a business takes steps to illegally avoid paying the tax that they owe....
The old “nothing is certain but death and taxes” quote attributed to Ben Franklin likely crossed your mind when you learned that as an executor of the estate of someone who recently died, you need to file at least one final income tax return on their behalf. If you...
When we hear the term “trust fund,” many of us imagine an ultra-rich kid with a silver spoon in their mouth. While itʻs true that a trust fund can be an attractive investment option for super-wealthy families, it doesnʻt tell the whole story. Trusts offer many...
When people do their own taxes, mistakes are very common. You're likely worried about making errors when you're filling out the forms, and you should attempt to do them as well as you can, but it's also important to know that you're not alone if you feel like you may...
If you have not paid tax on cryptocurrency profits so far, you need to start. While it has been a bit of a gray area, the IRS is determined not to miss out just because you do not keep your money in worldly assets. This year’s tax returns have a section dedicated to...
If you pass on while your child is a minor, it is natural that the surviving parent will assume the child’s parental responsibilities. However, if they are not around, or if they lack parental responsibility, then the court may appoint a guardian for your child. A...
There are many ways to keep your assets away from the IRS. Yet, doing so runs the risk that they will one day find out. If you have not told the truth about your assets to the IRS in the past, it is easy to think you are so deep in that your only option is to keep up...
A lien is a legal method for someone who is owed money to lay a claim on the property of the person that owes them. One entity that can place them is the Internal Revenue Service (IRS). A lien does not give the IRS the right to take your assets outright. Think of it...
