Working The Puzzle From All The Angles
On Behalf of Demetrius J. Karos, Ltd. | Dec 27, 2022 | IRS, Tax Evasion
If your tax returns have sufficient indications of fraud, the IRS will conduct a civil examination to uncover the truth, commonly known as an eggshell audit. As the name suggests, you must take great care to avoid facing criminal consequences. For instance, you may...
On Behalf of Demetrius J. Karos, Ltd. | Dec 22, 2022 | Tax Law
The shift to remote work has changed life dramatically for a lot of people. While there are still plenty of jobs that have to be done in person, many jobs that are done on computers can be handled anywhere. A company could be based in Illinois and hire workers from...
On Behalf of Demetrius J. Karos, Ltd. | Dec 11, 2022 | Estate Planning
Sometimes when a couple who has been married for many years embarks on their estate planning, they initially plan to have a joint will. They share their assets and agree that whoever is the first to go will leave everything to the other. Then, when they’re both gone,...
On Behalf of Demetrius J. Karos, Ltd. | Nov 28, 2022 | Tax Evasion
Tax evasion and avoidance sound almost similar, but they are like day and night. While one is perfectly legal and widespread, the other is unlawful and could land you in trouble with the IRS. Understanding the differences between the two will ensure you stay on the...
On Behalf of Demetrius J. Karos, Ltd. | Nov 15, 2022 | Estate Planning
Have you remarried? Does your new spouse have children that are now part of your family? If so, it is important to update your estate plan to ensure your new, blended family receives your assets after you pass away. While this can be somewhat confusing, these three...
On Behalf of Demetrius J. Karos, Ltd. | Oct 26, 2022 | Estate Planning
In many cases, people who are setting up a trust will do so with a set of written directions and instructions. This creates a very specific way that the money in the trust can be used. For example, you may be hoping that your heir will go to college, so you set the...
On Behalf of Demetrius J. Karos, Ltd. | Oct 13, 2022 | Tax Law
No one wants to receive a letter from the IRS, but unfortunately, it happens to many people yearly. If you're one of the unlucky few who gets that letter, the prospect of an IRS audit is not pleasant. However, if you know what to expect during an audit, you can make...
On Behalf of Demetrius J. Karos, Ltd. | Sep 28, 2022 | Estate Planning
Picture this. You just received news that a distant relative has died and left millions of dollars in your name. On the one hand, you might be excited since you’re now wealthy. But on the other hand, you might worry that other people will find out about it and pester...
On Behalf of Demetrius J. Karos, Ltd. | Sep 13, 2022 | Tax Law
Most married couples file joint income tax returns. There are often significant financial advantages to doing so. Moreover, it usually just makes sense and saves time. However, sometimes one person’s individual issues can negatively affect their spouse. When that...
On Behalf of Demetrius J. Karos, Ltd. | Aug 30, 2022 | Estate Planning
It’s very common for people to owe taxes after they pass away. You may have had an income that year that you still have to pay taxes on when the year comes to a close, for instance. You may also have to deal with things like property taxes on your house or a vacation...
