Working The Puzzle From All The Angles
On Behalf of Demetrius J. Karos, Ltd. | Apr 8, 2020 | Tax Law
For some, taxes are fairly straightforward. They have been working for a company, getting an hourly wage. They have just one source of income. They’re young and single, and their taxes get taken out of each paycheck before they get it. All they have to do is report...
On Behalf of Demetrius J. Karos, Ltd. | Apr 1, 2020 | Estate Planning
Unexpected health issues may become more common as you grow older. You can’t predict when these issues may strike or exactly what challenges you will face, but we do know that aging takes a toll and that some issues -- cancer, strokes, etc -- are more common in the...
On Behalf of Demetrius J. Karos, Ltd. | Mar 24, 2020 | Tax Evasion
Feeling nervous about filing your taxes? Feeling stressed as you fill out the paperwork? Maybe you think that you have done it all correctly, but you’re just worried. It’s the same fear you feel when you pass a police car on the road. You know that the tax authorities...
On Behalf of Demetrius J. Karos, Ltd. | Mar 23, 2020 | Tax Law
Traditionally, April 15 is tax day. Prior to the rise of digital filings, the post office would often have long lines on the 15th or the next business day if the 15th fell on a weekend. The Internal Revenue Service (IRS) expects that all Americans file an annual...
On Behalf of Demetrius J. Karos, Ltd. | Mar 12, 2020 | Tax Evasion
For many successful people, limiting the amount that they pay in taxes is a point of personal pride. Tax avoidance is as American as apple pie in the eyes of many people, including workers, investors and business owners. What you don't pay in taxes goes back into your...
On Behalf of Demetrius J. Karos, Ltd. | Mar 3, 2020 | Tax Law
Tax season produces a lot of anxiety for small business owners and freelancers alike. You know that, unless you managed to guess your profits very closely, the odds are high that you owe the taxman a pretty big check. What if you can’t pay? First: Don’t panic. You...
On Behalf of Demetrius J. Karos, Ltd. | Feb 10, 2020 | Tax Law
The stress alone of owing back taxes to the IRS is enough to drive you crazy. When you add in the fact that you have to eventually pay your balance, it’s difficult to imagine a way out. However, even if you don’t have the money to pay your balance in full, there are...
On Behalf of Demetrius J. Karos, Ltd. | Sep 27, 2019 | Estate Planning
According to some statistics, fewer than 1 out of 3 family-owned businesses actually make a successful transition in ownership from one generation to the next. The prospects of a family-owned business making it down to the fourth generation or further are quite slim,...
On Behalf of Demetrius J. Karos, Ltd. | Sep 13, 2019 | Tax Evasion
A couple made famous by their reality television show is now facing several years or even decades in federal prison on tax evasion charges. The couple's accountant also faces charges and has been accused of lying to IRS investigators.For their part, the couple claims...
On Behalf of Demetrius J. Karos, Ltd. | Sep 12, 2019 | IRS
Most people would agree that owing the IRS money is not a position you want to be in. If it does happen, odds are that you may not have the funds readily available to pay what you owe. If you are like other people across the country, including many here in Illinois,...
