The IRS continues to warn people of tax-related identity theft scams, especially regarding your personal financial and tax information. With these types of theft cases continuing to rise every year, it’s crucial to stay up to date on the latest … Read More
Did you know roughly 99% of taxes due on wages are paid to the IRS, but compliance on other sources of income is only estimated to be about 45%? The IRS has definitely discovered that Americans are most likely only … Read More
As a self employed business owner, you are in charge of finding a tax reduction strategy that benefits you. We’re discussing four tax reduction strategies that will apply to you if you operate your business as a proprietorship. As always, … Read More
Here at Emerald Financial Partners we’re ready to serve you and your business with all of the tax and business accounting services you need all under one roof! As a full-service CPA and business tax accounting firm we’re able to … Read More
With the IRS planning to increase tax audits by 50% this year, your small business could be targeted. An audit only happens when the IRS is suspicious that your tax forms aren’t accurate or truthful. Therefore, it’s important to take … Read More
Due to the unexpected financial losses small businesses faced in 2020, getting the most from your tax return will be of high importance this tax season. This is where small business tax deductions come in to save the day! Tax … Read More
The Consolidated Appropriations Act provides over $2.3 trillion in funding which includes $900 billion in stimulus relief for the COVID-19 pandemic. The CAA was signed into law on December 27, 2020. Along with the newly enacted CAA comes new federal … Read More
According to the Government Accountability Office and the Taxpayer Advocate Service, the IRS is not keeping up with paper tax returns. The COVID-19 pandemic has definitely played a factor in this as last year’s tax season was in full swing … Read More
Due to an overwhelming amount of pandemic-related tax changes, the IRS has decided to extend the tax filing deadline to May 17. This delay is necessary as many Americans will need the flexibility and time to gather what they need … Read More
Finding out that you have tax penalties from the IRS might be scary at first, but before you get worried, do your research and remember you have options; reasonable cause being one of them.
Reasonable cause is based on the … Read More
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