3 Things That Can Happen If The IRS Enstates A Tax Levy

People joke a lot about how Uncle Sam always has his hand out to get what he is owed, but if you've ever found yourself in debt to the IRS, you probably see Uncle Sam as a more menacing character. The fact is, owing taxes to the IRS can bring about financial woes that affect everything about how you live your adult life. The best thing to do is to avoid falling into this situation by making tax payments in a responsible way. Read More 

Did You Come Into Your Trust This Past Fiscal Year? Get A Tax Professional

If you came into your trust during the past fiscal year and you spent some of the money, getting a tax professional to help prepare your documents is the best option. You don't want to get penalized and have to pay a lot of money to refile your taxes or to get charged back taxes because you didn't file your taxes correctly the first time. You are about 20 times more likely to make a mistake trying to do the work on your own, and when your trust is involved it isn't worth the risk. Read More 

New Tax Rules Requiring ITIN Renewals

Persons who do not have a Social Security number must obtain an individual taxpayer identification number (ITIN) in order to file a U.S. income tax return. Until passage of legislation late in 2015, ITINs had no automatic expiration date. Now, many ITINs must be renewed in order for the holder of the number to successfully file a tax return. Regardless of immigration status, individuals must report their taxable income if they are required to file a tax return. Read More 

Benefits Of Having Your Business Taxes Handled By Professionals

As a business owner, you may want to consider having your business taxes handled by tax professionals. To help you understand why this may be so important, you will need to check out the following points. They Can Find Additional Deductions For You In order to make sure that you are saving as much money as you can, you will want to use as many applicable deductibles as you can. Read More 

Reduce Your Property Tax Burden With These 2 Suggestions

If you have finished paying off your mortgage and now need to pay your property taxes separately, you might be surprised at how much your taxes are. About 60% of properties are overvalued by local tax assessors, which leads to high taxes for you. However, it may be possible for you to lower your tax burden by using the following suggestions. File an Appeal Your property taxes are calculated by multiplying the local tax rate with the tax assessment value of your home divided by a hundred. Read More