If you're in trouble with the IRS, you need to get help as quickly as possible. Being in trouble with the IRS isn't something you should take lightly. It's also not something that you should ignore, especially when you're being hit with a tax bill. You might think that ignoring the IRS will make the problem go away, but that's not the case. In fact, ignoring the IRS can leave you with even bigger problems and even bigger debts.
If you use the services of a CPA, you are going to want to ensure you are using the best CPA services you can get. A concierge accounting service is one of the latest trends in accounting and is important to understand if you work with an accounting service.
More Personalized Service
With a concierge service, you are signing up for a more personal accounting service. A concierge service only takes on a select number of clients instead of hundreds of clients.
Tax season is a stressful time of year for many. They may not have planned ahead for the taxes that they will owe or they may be feeling anxious about the process of filing, especially if they have a more complex tax situation. The good news is there are professionals who can take that stress away and make tax time easier. Plus, they can advise you all year long so that you make the best financial choices.
Filing your taxes jointly with a spouse has its benefits. Aside from larger deductions and special tax breaks, joint filing involves less hassle than filing separately. But filing jointly also puts you at risk if your current or former spouse makes mistakes or purposely reports incorrect tax information.
Innocent spouse tax relief can help get you out of hot water with the IRS over spousal tax issues. However, it's easy to confuse innocent spouse relief with injured spouse relief—another means of resolving spousal tax issues you weren't initially aware of.
If you own a small business, you need to keep an eye on when you make your payments and how those payments will impact your tax liability from one year to the next. The three payments that you need to pay close attention to are gifts and donations, expense payments and buying assets at the end of the year.
Gifts & Donations
When your business makes gifts and donations, they can be written off on your taxes.