As a small business owner, taxes are an inescapable part of your life. While you may be aware of the need to pay taxes, one area many business owners overlook is paying themselves a reasonable salary from their corporation. If the IRS finds out that you are not paying yourself a salary, they can come…
The IRS has various collection tools at their disposal when it comes to collecting on unpaid taxes. One such tool is to send a taxpayer’s case to a private debt collection agency (PDCAs). If you have received notice that your case has been sent to a PDCA, it is important to know what to expect…
Last week I had the opportunity to travel to Beverly Hills to be interviewed by Hollywood live It was such an honor to work with Emmy Award-winning director Nick Nanton during this filming. I got a chance to attend two movie premiers and then attend an award ceremony where I received my award. We talked…
The Inflation Reduction Act was proposed by the Biden administration as a way to combat rising inflation. However, many experts are concerned that the bill’s tax reform provisions will result in higher taxes for American taxpayers. Here’s what you need to know about the Inflation Reduction Act and how it could impact your wallet. The…
So what does a Volleyball dad do on Friday night? Normally this dad is spending the evening with his wife and daughter (maybe the daughter is a teenager) and just relaxing, but tonight was different. Our daughter, who plays volleyball for the Yucaipa High School Junior Varsity team, was asked to play with the Varsity…
I’m going to talk about what to do when you get an IRS letter in the mail. This can be a really scary experience, but don’t worry, I’m going to walk you through everything and make it easy for you. Don’t panic! If you receive a letter from the IRS, there are still steps you…
It isn’t easy to make predictions, especially about the future. But there is one prediction we’re confident in making: you will have substantial out-of-pocket expenses for health care after you retire. Personal finance experts estimate that an average retired couple age 65 will need at least $300,000 to cover health care expenses in retirement. You…
IRS warns of messy tax filing season – iHeart’s Talk Radio WIOD Miami asked Carlos Samaniego to come on the air and discuss. 🎙 Carlos is the founder of Tax Debt Consultants. He’s an Enrolled Agent and an NTPI Fellow, an elite group of professionals with significant expertise in representing taxpayers before the IRS.…
The IRS is serious about tax evasion. You may have been putting off filing your taxes because you thought it wasn’t necessary, but the IRS will not hesitate to penalize any who don’t pay up on time. They realize that by failing either of these two ways they could lose hard-earned money from their budget…
Not every day is a good day to be in business. The taxes we have been dealing with for years can make it difficult and stressful, but there are ways around them if you know what they all mean! A little preparation could save your company from an audit or worse – legal trouble later…