Proper tax planning is a year-round proposition. You cannot afford to wait until April to start planning your taxes and assessing your tax liability.
Knowing which factors can raise your taxes is one of the best ways to keep more money in your pocket. These five factors can unexpectedly raise your taxes owed at the end of the year.
Note: If you owe back taxes, our firm can help negotiate with the IRS and potentially settle your tax debt. Call us today, at (718) 841-7317. Our tax resolution specialists can navigate the IRS maze so that you have nothing to worry about.
#1 … (8 comments)
thetaxresolutionninja: Lucky Day at the Casino? Don’t Forget About the IRS
- 06/09/21 04:18 PM
Whether you gamble all the time or only once in a blue moon, you are filled with hope and excitement every time you walk through those casino doors. If you have been gambling for even a little while, you already know that Lady Luck can be a fickle partner. Sometimes the gods of the casino smile upon you, and other times they turn their back. So, when you finally hit the jackpot, you are overjoyed and brimming with excitement… At least until you consider the tax consequences of your good fortune. Every time you walk through the doors of … (2 comments)
thetaxresolutionninja: Self Employed? Smart Strategies for Minimizing Your Taxable Income
- 04/19/21 08:36 AM
A lot of our clients that come to us with back tax problems are self-employed. For one reason or another, they fall behind on their taxes. With COVID-19, small businesses have been hit the hardest, and despite the government stimulus bills, there are still millions of businesses teetering on the border of failure. Understandably, a few of them fell behind on their taxes, and we’re here to help. Our firm specializes in tax problem resolution. We have CPAs, EAs, and attorneys who can represent you before the IRS. We serve clients virtually, so don’t hesitate to … (0 comments)
thetaxresolutionninja: Self-Employed and Gig Workers: Should You Claim the Home Office Deduction?
- 03/26/21 06:37 AM
The rise of freelancing, self-employed, and gig work is one of the biggest labor stories of the last 20 years. More and more workers have been looking beyond the normal nine to five and making their own way in the world, creating an income they can rely on, one that is directly tied to their skills and abilities. COVID-19 only accelerated this trend. Working as a freelancer or gig worker can also open up a world of tax savings possibilities. From retirement plans with generous contribution limits to health savings accounts to cover the high cost of private insurance … (1 comments)
People often dream of quitting their jobs and going into business for themselves to pursue a passion and work without a boss. Self-employment can be a rewarding career decision, but it can lead to higher taxes and tax returns that are more complex than what you initially bargained for.
If you’re self-employed, it is important to understand how taxes work so you can avoid making a mistake and owing more than your fair share of taxes.
Note: If you owe back taxes and need tax relief, our firm can help! We specialize in resolving complicated self-employed and small business back tax problems. Contact … (1 comments)
thetaxresolutionninja: The Procrastinator’s Guide to Surviving Tax Day
- 02/23/21 04:19 PM
FEBRUARY 23, 2021 |IN TAX RETURN |BY TRISTATE TAX RESOLUTION LLC If you are a procrastinator, tax filing season is probably the worst time of year. With deadlines looming, filling out all those complicated forms and making sense of an increasingly complex tax code that changes almost every year can seem like an overwhelming task. But no matter how long you put it off, the April 15 tax filing deadline will arrive, and what you do to get ready will make all the difference. Most Americans voluntarily file their tax returns and pay their taxes. Most people … (1 comments)
Tax identity theft occurs when identity thieves obtain your Social Security number and file a fraudulent tax return on your behalf.
According to the Federal Trade Commission, tax identity theft is the most common form of identity theft. The FTC estimates that it costs taxpayers over $5 billion a year.
Consumer advocates believe that since Social Security numbers are so readily available on the dark web, a majority of Americans are at risk.
Unfortunately, most tax identity fraud victims don't realize that they have fallen victim until they try to file their return. Luckily, there are some important tips that you can follow to … (3 comments)
thetaxresolutionninja: Tax-Free Ninjas
- 07/06/20 01:47 PM
Colleges looking to compete for students have added new fields like cybersecurity, political campaign management, and even beer fermentation. (That last one seems a bit indulgent, given how many college students pursue rigorous self-study programs in malt beverages with no promise of academic credit at all.) Perhaps it shouldn't surprise you, then, that a Japanese man has earned the first-ever master's degree in Ninja Studies after two years studying the history, traditions, and fighting techniques of Japan's legendary stealthy soldiers at Mei University's International Ninja Research Center. Ninjas date back as far as the 12th century but reached their zenith during the … (0 comments)
;)
;)
;)
