Working The Puzzle From All The Angles
On Behalf of Demetrius J. Karos, Ltd. | Apr 20, 2022 | Tax Law
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...
On Behalf of Demetrius J. Karos, Ltd. | Apr 6, 2022 | Estate Planning
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...
On Behalf of Demetrius J. Karos, Ltd. | Mar 23, 2022 | Tax Law
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...
On Behalf of Demetrius J. Karos, Ltd. | Mar 15, 2022 | Tax Law
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...
On Behalf of Demetrius J. Karos, Ltd. | Mar 10, 2022 | Estate Planning
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...
On Behalf of Demetrius J. Karos, Ltd. | Mar 7, 2022 | Tax Law
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...
On Behalf of Demetrius J. Karos, Ltd. | Mar 4, 2022 | Tax Controversy
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...
On Behalf of Demetrius J. Karos, Ltd. | Mar 2, 2022 | Estate Planning
You might be upset if your kids ask you about your estate plan. You might feel they are jumping the gun or that it is none of their business. Yet, if they try to have a conversation with you about it, you probably should view it as them acting responsibly. An estate...
On Behalf of Demetrius J. Karos, Ltd. | Feb 28, 2022 | Tax Evasion
Not that long ago, international bank accounts were the perfect safe haven for those who didn't want to disclose all of their personal assets to the Internal Revenue Service (IRS). However, international banking has become much more transparent than it once was. Even...
On Behalf of Demetrius J. Karos, Ltd. | Feb 28, 2022 | Tax Law
When the IRS informs you that you owe them money, ignoring them is not an option. Yet, as these can often be large sums, you may not have the means to pay your bill. If business has been down lately, you might feel that you will never be able to pay it. Yet, it will...
