Tax Law

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...

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...

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...

If you pay taxes in the U.S. but also had one or more financial accounts with at least $10,000 in assets outside the U.S. at any point during the year, you’re typically required to file a Foreign Bank Account Report (FBAR) with FinCEN.  U.S. citizens have to pay tax...

Once a year every year, most people have to file income taxes. However, many do not. As a result, many of these people will face penalties on top of the tax they owe.  The big question is, why do so many people fail to file their taxes? There are many reasons that...

If you haven’t paid taxes in years, you could owe an incredible amount of back taxes that may not actually be affordable to you. This often concerns people because they’re worried about how they’re supposed to come up with this much money and what the government is...

You worked for other companies for a number of years. While this helped you to acquire a number of skills and contacts, you’ve always wanted to go it alone. Consequently, you set up a small business. Being your own boss comes with a number of advantages, but it also...

Running your own business can be profitable and extremely rewarding. Nonetheless, it also comes with big responsibilities.   One of your main legal duties will be to pay your tax contributions when required to do so. A willful failure to honor your tax obligations...

The Internal Revenue Service (IRS) enforces the tax code in part by reviewing individual returns, performing audits and pursuing collection activity when necessary. The IRS even has the authority to recommend criminal proceedings against those who have engaged in tax...

From keeping tabs on your inventory to marketing, managing your workforce and ensuring compliance with applicable laws, running a business comes with tons of responsibilities. It is not surprising that most small-business owners do not pay much attention to business...