LLC Tax Elections and What This Means For Your Unpaid Employment Taxes

Forming a Limited Liability Company (LLC) for your business can personally protect you against debts that your business incurs, including debts arising from unpaid ...
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Appealing Your Trust Fund Recovery Penalty Before And After Assessment

Going through the assessment process of Trust Fund Recovery Penalties (TFRPs) is complicated. It can become even more complicated when the IRS Revenue Officer has ...
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The Consequences Of Misclassifying An Employee

When it is determined that a business has misclassified an employee, several taxing authorities may end up being involved. This will most likely result in some stiff ...
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Payroll Taxes and The Employer/Employee Responsibility

For any employer it's important to have a good understanding of payroll taxes. After all, it's your responsibility to make sure the payroll taxes eventually get paid ...
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Trust Fund Recovery Penalties and How You Can Be Personally Liable

Payroll taxes are something that any business owner should be familiar with if they have employees to whom they pay an hourly wage or salary. Having a good ...
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How Long Does The IRS Have To Audit Your Tax Return?

STATUTE OF LIMITATIONS FOR IRS AUDITS AND ASSESSMENTS
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Eligibility Requirements Of An S-Corp

Forming an S-Corp can have several advantages both tax related and non-tax related but, before you start planning to form an S-Corp you need to know whether your ...
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S-Corps and The Reasonable Compensation Dilemma

If you're reading this blog, chances are you're either considering forming an S-Corp or you have an S-Corp and are trying to determine the amount of salary you need ...
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The Information You Need To Prepare For An IRS Audit

The short answer to this question is all the information you have. However, if you're asking yourself this question, you may really be asking whether the information ...
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No Decrease In Tax Assessments From IRS Audits For The Self-Employed

The decrease in IRS audits over the past few years has many assuming their chances of being audited have also decreased. Although this is true for most taxpayers...it ...
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