During business formation, some business owners consider other factors, including target market, employees, growth strategies and so on, but pay less attention to taxes. However, taxes are crucial in small business. Thus, it will help to consult a tax professional...
Taking A Cooperative Approach To Your Legal Issues
Month: March 2023
Mistakes in filing a decedent’s final tax return can be costly
That Benjamin Franklin quote, “In this world nothing is certain but death and taxes,” is likely running through your head if you’re filing a 2022 income tax return for someone who passed away last year. The named executor of the estate is required by law to file this...
Potential red flags for the IRS
Running your own company can be very rewarding both personally and professionally. One important responsibility that you cannot escape is your tax obligations. Tax returns must be filed each year and must be completed accurately. Ideally, you want to avoid a tax...
3 mistakes to avoid when facing an IRS audit
Receiving an audit notice can be stressful for many individuals and business owners. The Internal Revenue Service (IRS) can select you for different reasons, including random selection or errors in your returns or that of taxpayers you are associated with, such as...