Who Do You Pay and How Do You Do It?

The ins-and-outs of employees vs outside contractors Employee vs Independent Contractor – Overview If you run a business and get support from workers other than yourself, you have probably asked yourself the question "should I pay these people as employees or as outside contractors?" In order to convince yourself that you made the correct decision, maybe you thought that since you only use one person or just pay for part-time help that you qualify to pay your workers as independent contractors.  To save money and hassle, some people lean toward the latter and learn they made the wrong decision the [...]

Bonus Depreciation & Cost Segregation Tax Planning with Geoffrey Gan

Bonus Depreciation & Cost Segregation Tax Planning with Geoffrey Gan, Manager, of KBKG Pasadena. KBKG is an industry-leading tax saving strategies firm that specializes in helping their clients as well as consumers and businesses of other CPA firms significant tax savings. Visit their Services page for their complete offerings.

As May Filing Deadline Comes for Tax-Exempt Orgs, Payroll Tax Problems Arise

For those of you that run a tax-exempt organization, did you know that the May filing deadline for Form 990-series information tax returns is quickly approaching? With this deadline quickly approaching, many tax-exempt organizations find themselves caught in a bind. In addition to minding the time to file, such filings often uncover ancillary issues for tax-exempt organizations such as payroll tax problems. May Filing Deadline Shifted Although their business missions are well-intentioned, and we all know they do a tremendous amount of good, tax-exempt organizations often stumble into payroll tax problems through poor management or lack of knowledge.  As a side [...]

4 Common Mistakes That Small Business Owners Make

The Tax Resolution Institute works with countless business owners helping to resolve their tax problems.  These issues can range from something as simple as failing to file a tax return to being help personally responsible for failing to make the company’s IRS payroll tax deposits.  Most business owners with tax problems understand that these issues come  more than one at a time.  Keep reading to finding out what mistakes many business owners make that lead to tax problems… […]

IRS Income Tax Underpayment Of Over $ 1 Million Submits MMA Pioneer Royce Gracie To IRS Scrutiny

Even if you are a legendary MMA fighter, IRS income tax underpayment is a big mistake. Before his return to the cage in Bellator 149 to face old nemesis Ken Shamrock, UFC Hall of Famer Royce Gracie finds himself in a serious fight with the IRS over his taxes. Di Gracie rightfully claimed a tax credit for the poor or did he commit fraud in order to reduce his tax bill? Did Royce Gracie try to submit the IRS by illegally claiming the Earned Income Credit, a tax subsidy designed for low-income working families? MMA Pioneer Gracie & IRS Income [...]

IRS Highlights Income Tax Filing Dangers Of Cutting The Wrong Corners

From charitable donations poorly recorded to cutting corners on tax returns, the income tax filing dangers when preparing your taxes are innumerable. Luckily, the Tax Resolution Institute was founded as an extension of a respected accounting firm that knows how to file your tax returns correctly. Even if you are choosing to take an extension because of income tax debts and fears of the IRS auditing you, we can help. Cutting Corners With IRS A Mistake Beware IRS Income Tax Filing Dangers The problem with unqualified tax preparers is they often try to cut corners in order to [...]

2015 FBAR Filings A Necessity As Eastern European Countries Sign FATCA

2015 FBAR filings are more of a necessity than ever before. On March 18, 2015, Belarus signed the FATCA agreement, hosting a signing ceremony with the United States at the Belarusian Foreign ministry. The international tax team at the Tax Resolution Institute points out that resistance by the Easter European countries to the U.S. Foreign Account Tax Compliance Act (FATCA) is evaporating as more and more former Warsaw Bloc states come on board. Given the change with these international FATCA resistant zones vanishing, 2015 FBAR filings with the IRS have become a necessity to avoid penalties. 2015 FBAR Filings A [...]

Tax Increase Prevention Act of 2014 (TIPA) And Extended Tax Breaks Through 2014

Do you know about the Tax Increase Prevention Act of 2014 and how it possibly could affect you? Backed by a full-service CPA firm, the Tax Resolution Institute believes in providing tax updates and resources to our clients and our potential clients. Sent out on a monthly basis in the SST newsletter, below is important 2014 and 2015 tax update information about the Tax Increase Prevention Act of 2014. Tax Increase Prevention Act of 2014 (TIPA) The Tax Increase Prevention Act of 2014 The Tax Increase Prevention Act of 2014 (TIPA) was signed into law on December 19, 2014. [...]

2017-05-23T10:01:51-07:00March 3rd, 2015|Income Tax Problems, Tax Planning|

The 23 Most Serious IRS Problems According To The National Taxpayer Advocate

If the National Taxpayer Advocate Nina Olson gives a long list of the most serious IRS problems, the Tax Resolution Institute understands why our clients have tax troubles with the IRS. Given the disarray being faced in 2015 by the Internal Revenue Service in terms of supporting taxpayers with reliable IRS customer service, is it surprising that you are facing tax resolution problems? The Tax Resolution Institute is here to help so please call (818) 704-1443 to access the support of a tax professional. Serious IRS Problems Reported Serious IRS Problems According to the National Taxpayer Advocate’s report [...]