Working The Puzzle From All The Angles
On Behalf of Demetrius J. Karos, Ltd. | Jun 4, 2024 | IRS, Tax Controversy, Tax Law
A three-judge panel on the Michigan Appeals Court ruled that the recently triggered income tax cut to 4.05% from 4.25% is not permanent. Last year, the reduction was triggered under a law requiring the tax rate to go down if state revenue rises significantly faster...
On Behalf of Demetrius J. Karos, Ltd. | May 30, 2024 | Real Estate
The dream of owning your home is one that most people work hard to achieve. However, there are certain things that can make it much more difficult. One of these is having a tax bill that’s not paid. There are several ways that having unresolved tax issues can impact...
On Behalf of Demetrius J. Karos, Ltd. | Apr 29, 2024 | Tax Law
People filing their annual income tax returns often expect to receive a refund. It is common for employers to withhold more than is actually necessary to cover state and federal income tax obligations. Many people look forward to receiving their refunds and may intend...
On Behalf of Demetrius J. Karos, Ltd. | Apr 3, 2024 | Tax Controversy
Tax law is very complex, and the rules for tax returns change regularly. The value of different credits, the way the Internal Revenue Service (IRS) taxes certain assets and various other income tax rules fluctuate based on current policy rules and economic trends....
On Behalf of Demetrius J. Karos, Ltd. | Apr 2, 2024 | Tax Law
Running a small business is often a rewarding experience, but tax season can inspire a wave of stress. If your business finds itself facing a hefty tax bill you can't seem to manage, it can feel like the end of the road. Thankfully, the IRS offers a program called...
On Behalf of Demetrius J. Karos, Ltd. | Mar 22, 2024 | Tax Controversy
Falling behind on business taxes can be stressful for any small business owner. Whether due to unexpected financial hardship, bookkeeping mistakes or simply being overwhelmed, neglecting tax obligations can lead to a stack of overdue returns and a growing sense of...
On Behalf of Demetrius J. Karos, Ltd. | Mar 11, 2024 | Tax Controversy
Owning a small business is often a rewarding journey filled with challenges and triumphs. One of the most significant challenges entrepreneurs face is navigating the complex world of taxes. Unfortunately, even with the best intentions, misunderstandings or unforeseen...
On Behalf of Demetrius J. Karos, Ltd. | Mar 5, 2024 | IRS
The Internal Revenue Service (IRS) collection process is a structured procedure for recovering unpaid taxes. When a taxpayer fails to pay their tax debt, the IRS sends a notice of the outstanding amount, including any penalties and interest accrued. This initial...
On Behalf of Demetrius J. Karos, Ltd. | Feb 4, 2024 | Real Estate
There is a lot at stake during a residential real estate transaction. Buyers usually need to deposit earnest money when making an offer, and they could lose those funds in certain situations. They could end up overpaying for a property because the seller doesn't make...
On Behalf of Demetrius J. Karos, Ltd. | Feb 3, 2024 | Estate Planning
The approach that some people take to estate planning involves getting the process over with as quickly as possible. They find it unpleasant to think about what happens after they die and may rush through the process. Frequently, people may choose to draft a will and...
