2 Things That Could Trigger An IRS Audit

No one wants to get audited by the IRS. Unfortunately, it's something that could happen to anyone. However, there are certain things you can do to minimize your chances of getting audited. If you want to avoid an audit, you should be aware of these red flags. This article discusses two things that could trigger an IRS audit. Failure to Report All Your Income When you don't report all your income, it creates a discrepancy between what the IRS expects to see on your return and what you report. Read More 

4 Myths About Offers In Compromise

If you're behind on your taxes, you may need to contact someone who specializes in tax resolution. These professionals know how to negotiate the best arrangements possible with the IRS and state tax agencies, and they are familiar with the tax resolution options. A general tax preparer or accountant may not have in-depth knowledge about this aspect of the tax code.  One of the resolution options is an offer in compromise. Read More 

Things To Know If You’re Considering A 1031 Rental Property Exchange

When it comes to selling a piece of property, any gain you realize is taxed as a capital gain. Capital gain taxes can be quite costly, which can make it discouraging for many people. What many don't realize is that you can avoid the capital gains tax when you're selling a rental property if you opt for a 1031 rental property exchange. Here's a look at some of the things that you should know about these tax exchanges and what they mean. Read More 

4 Reasons You Might Need Concierge Accounting Services

Professional financial services are mostly associated with businesses, but individuals also need them. For example, it is crucial to have an expert help you manage your finances and assets. Hence, you should consider hiring a concierge accountant. This professional operates differently from other accountants because they offer personalized services. Here are four reasons to consider concierge accounting services.   1. Reliable Financial Advice Concierge accounting experts usually have fewer clients, which means they have enough time to focus on your family's finances. Read More 

3 Common Financial Mistakes Small Business Owners Make

From finding new clients/customers and completing the actual work, running a small business is difficult without dealing with the different financial issues that may arise. Unfortunately, without making your finances a priority, your small business will not only NOT be profitable, but it may actually fail. With this guide, you will learn how to avoid the most common financial mistakes to ensure your small business is successful. Over/Under Paying Taxes Read More