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January 2016 Archives

The basics of federal business taxes: Part I

If you started your business within the last year, you may feel a little lost heading into tax season. The ways in which businesses are taxed at the state and federal level can be confusing, in part, because various kinds of businesses are all taxed differently.

What's the best way to get Americans to be honest on their taxes?

Imagine walking down the street, minding your own business, when you suddenly see a "wanted" poster with your face on it. Why are you wanted? What crime have you supposedly committed? Perhaps you had some tax trouble with the Internal Revenue Service, but that wouldn't land you on a poster, would it?

Why you should disclose your offshore assets voluntarily

Many people with offshore assets are tempted to not disclose the assets to the IRS for the chance that the IRS will not discover the assets, resulting in tax breaks. However, this is often a mistake as the IRS comes down hard on people who do this and get caught.

The importance of advance health care directives

Many discussions about estate planning focus on the bequest of assets. Everyone should get to decide what happens to their property and assets when they pass, and estate planning would be worth it even if that was its only benefit.

Scammers claiming to be the IRS may have an easier time this year

With the start of tax season now just a couple weeks away, it is a good time to discuss an issue that anyone could find themselves facing: scams. Con artists and thieves continue to make a fortune each year by posing as IRS representatives on phone calls. They claim that the person owes money to the IRS and will be prosecuted if they don't pay immediately. They then instruct the person where to send these immediate payments (locations which are not affiliated with the real IRS).

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