by Ellen Domorad | Jun 24, 2019 | Blog
What Is the Internal Revenue Service (IRS)? The Internal Revenue Service (IRS) is a U.S. government agency responsible for the collection of taxes and enforcement of tax laws. Established in 1862 by President Abraham Lincoln, the agency operates under the authority of...
by Ellen Domorad | Jun 24, 2019 | Blog
What Is the Pretax Rate of Return? The pretax rate of return is the return on an investment that does not include the taxes the investor must pay on this return. Because individuals’ tax situations differ and different investments attract varying levels of...
by Ellen Domorad | Feb 16, 2018 | Blog
The IRS is required by law to notify taxpayers by mail of any actions taken or required in your tax situation. Below are sample letters along with explanations of what’s happening in each case. IRS Collections CP14: Notice of Unpaid Taxes This notice explains...
by Ellen Domorad | Dec 15, 2017 | Blog
Taxes can be tricky for high-income earners who often don’t qualify for different deductions, various credits, and tax-advantaged accounts. Even though some deductions are not available, high-income earners can still use the following strategies to minimize their tax...
by Ellen Domorad | Dec 15, 2017 | Blog
First of all, an owner must decide what type of an entity it should be. The type of business determines which tax forms a business will have to file. The most common forms of businesses are sole proprietorships, partnerships, C and S corporations, and limited...
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