A frequent question we often hear is “Can the IRS collect my tax debt from me for the rest of my life?” Fortunately, the answer is no. The IRS has 10 years to collect any taxes you owe. The 10 years starts to run from the date the IRS first assesses the taxes against you. […]
When you first set out on the business trail you need to get your finances in order and profit and loss statements in Los Angeles are an important part of that. Once your business is up and running, you might decide to move it for a variety of different reasons. Here’s a few tips that […]
An Offer in Compromise (OIC) allows you to settle your tax debt for less than the amount you owe. However, just because the IRS accepted an OIC for your neighbor, co-worker or friend, does not mean that you will necessarily qualify for an offer. An OIC may be an option for you if you can […]
Financial statements are as important to a growing business as a good product and marketing plan. These are important to staying compliant with all government regulations. These statements are essential if you get audited so you can back up any of your claims. Backing up all of your financial statements in Los Angeles is important […]
If you are an Uber or Lyft driver, rent out a room through Airbnb or provide a number of other goods or services through an online platform, you are involved in the “sharing economy.” This is also known as the on-demand, gig or access economy. In the last few years, the sharing economy has emerged […]
Many people choose to pursue a hobby such as jewelry making, boat racing, coin collecting, baking, photography or showing dogs. A hobby is something you pursue as a sport or for recreation or because you are passionate about it, but not to make a profit. However, you can make money from some hobbies and incur […]
Millennials generally have a hard time of it. They generally have a reputation as bad money managers and prime candidates for the bigger penalties like state wage garnishment. That said, we’re always interested in informing our potential and current clients about what they should and should be doing with their money. That’s why we’ve put […]
As a sole proprietor, it’s important to stop tax garnishment in California and steer clear of any other type of tax problems with the government. TaxPlus offers bookkeeping services that can keep everything in order so people who run their own businesses can avoid unnecessary problems. One of the advantages these businesses get when they […]
We always tell our clients it’s in their best interest to avoid California tax levies at all cost. These are generally considered one of the harshest levers the IRS can pull and they include forfeit and seizure of assets. On the other side of that coin, TaxPlus offers the kind of audit representation that’s top-notch […]
There are folks who hold back taxes in California and Los Angeles who defend the fact they procrastinate on filing. Then there are those who actually forget to file by the deadline and others who simply avoid taxes altogether. Avoiding your yearly tax return has some big consequences and we’ve put together a list of […]
