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Self Employed

Tax Deductions for the Self-Employed

If you’re self-employed, you work hard to build your business and satisfy your clients. Your biggest client to make happy might just be the IRS. Here is what you should know about making sure that Uncle Sam is getting their fair share while at the same time ensuring you’re not paying out more than necessary.… Continue reading Tax Deductions for the Self-Employed

Tax Resolution

How To Legitimately Apply For Reduction of IRS Penalties

The IRS charges dozens of different types of penalties, but the three that we most commonly talk about are the late filing penalty, the late payment penalty, and the penalty for not making Federal Tax Deposits. These three penalties combined can add a whopping 65% to your total IRS bill. If your tax debt is… Continue reading How To Legitimately Apply For Reduction of IRS Penalties

Affordable Care Act

IRS no longer rejecting ACA ‘silent’ returns

The instruction for individual taxpayers involving the Affordable Care Act has been to indicate on their Form 1040 filing whether they had health insurance, an exemption from coverage or made a shared responsibility payment. In recent years, tax returns silent in that regard were still processed.  This year, the IRS put in place system changes… Continue reading IRS no longer rejecting ACA ‘silent’ returns