When taxpayer’s have IRS Debt, the IRS has a number of tools to use to collect the debt. Those include levies, liens, and can also include revoking the taxpayer’s passport. For some taxpayers, this is not a major threat. For others, there can be a substantial impact
Read more →Starting a business is exciting and nerve-wracking all at the same time. Our Tax firm is in Richardson, TX, and every day, there are hundreds of new businesses being formed in the DFW area. The process of starting a new business can be intimidating and the “to
Read more →In his book, The Rebel Rules: Daring to Be Yourself in Business, author Chip Conley describes what investors look for in a management team when considering providing startup money to new businesses. He says your management team should consist of a “brain trust that includes a passionate visionary,
Read more →When taxpayer’s come into our Richardson, TX tax office, one of the biggest challenges I often have is getting them into tax compliance. Today, we’ll discuss what Tax Compliance means to the IRS and why it’s critical to effectively resolving your tax debt. What Does the
Read more →Taxpayers involved in Real Estate are the largest group of tax clients for my Richardson, TX tax firm. Did you know that Landlords who spend at least 250 hours a year managing and maintaining their rental properties may be eligible for the Qualified Business Income (QBI) deduction (QBID). That averages
Read more →We sometimes have taxpayers who come into our Richardson, TX tax office who have not filed a tax return for all years or many years and who are confused when the IRS is attempting to collect tax from them in a year that they know they never filed.
Read more →On Friday, the President signed into law the Further Consolidated Appropriations Act, 2020. In addition to preventing a government shutdown, the Act included many tax provisions that often impact clients of our Richardson, TX tax office as well as other taxpayers throughout the country. Below are some of the
Read more →As we welcome in a new year (and maybe a new decade depending on how you count them), it’s a perfect time to reflect on the trends that will impact us and our businesses. Here’s a list for your consideration and reflection. Trend #1: Sustainability Concern for
Read more →Have you heard of the Taxpayer’s First Act, that was passed by Congress on July 1st, 2019? Most of my clients in our Richardson, TX tax office haven’t, but there were some changes made in the Act that benefit taxpayers, and might be worth learning about. What Is
Read more →Many of our clients in our Richardson, TX tax office are families with children in college or have children who may be attending college in the future and are planning for that cost. What’s on your tax return plays a big role in determining how much financial aid a
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