Claim OwnershipThe Tax Answers Advisor
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© Marcelino Dodge, EA
Description
The tax world is always revolving and changing. How does the taxpayer keep up with both individual tax and business tax changes? The year 2020 saw thousands of pages added to the tax code. We help our listeners to understand the importance of using a licensed, credentialed tax preparer, such as an Enrolled Agent (EA), to prepare their individual tax returns and their business tax returns. You will learn how a proactive approach to rapidly changing tax laws will help you to pay the least amount of income tax possible. You’ll learn by working year-round with an Enrolled Agent. You can maximize both your tax deductions and your tax credits. Together we can help you create tangible strategies to achieve financial success and increase cash flow. By strategic planning and implementation, you can keep tax liability down in the future no matter what Congress does. The Tax Answers Advisor can be heard every Thursday at 9 AM Pacific Time on the VoiceAmerica Business Channel.
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As one long tax seasons continues (long because April 18 is the filing deadline), many taxpayers have filed, other have yet to file, some will file an extension, and some will not file at all.
How many times have your heard late night ads on satellite radio stating how easy it is to eliminate your back tax debt? “Just contact us to get rid of your back taxes.
Each tax season has its own unique challenges. In 2022 working the 2021 tax year, I encountered several first time experiences after 20+ years of tax preparation. There were many provisions that only applied to the 2021 tax year.
The tax world is constantly in utter flux. The years 2021 and 2022 were no different. What you could take in 2021, you cannot take in 2022. An expanded Child Tax Credit in 2021 is not available in 2022.
You received your W-2 and some bank interest. Thinking you have all your forms you go to the tax professional and have your taxes filed.
To correctly calculated their gains or losses for tax purposes, taxpayers must know their basis in stocks, gifts received, inheritances, and so much more.
Tax scams. Imitators of the IRS. How creative can they get? It seems every month more news from the IRS is released on the latest attempts to access your personal information.
Have you been waiting for the checks for your dependents under 17? Are you anticipating another bigger than normal refund? The Child Tax Credits for 2022 are not the same as 2021.
First created in 1884 to prepare claims against the government for the American Civil War, Enrolled Agents have been at the forefront of representing taxpayers who need the extra help with personal and business taxes.
1Been keeping up with the news of a recent bill in Congress that could add more than 80,000 agents to the IRS? If you are behind on filing or are receiving notices from the IRS, you could have big reason for concern.
Many employers are looking for ways to save money.
Tax season is starting in less than a week.
Still thinking the IRS is not moving on collections and enforcement? Though service in some areas my be slow, the IRS is ramping up enforcement for non-filers, criminal investigations, and trust fund penalties.
Since the Great Recession the New Economy has created challenges for both taxpayers and the IRS. More and more taxpayers have jumped into the New Economy without knowing the issues about income reporting and allowable expenses.
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