Easy Access Begets Wasted Time and Less-Qualified Clients

Are you easily accessible? Many a guru advise that you must be there when the client is ready to buy. They tell you the customer doesn’t want to be sold, but they love to buy. There is some validity to this business model, but it does little to support higher pricing and ...

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What Are the Series 668 Forms All About?

The group of forms 668A, 668D, 668W, 668Y, 668Z are notices IRS sends a taxpayer advising of an action the IRS has initiated against them, or release of such actions. Following is a brief description of each notice and the consequences for the taxpayer...

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What’s a Congressional?

Dr. GP has retired, closed his practice, and lost his memory. What he didn’t lose was the $150,000 of unpaid payroll taxes or the $500,000 of unpaid personal income taxes. When he and his wife showed up at our office they were five years behind in filing personal income tax returns. The doctor barely...

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You May Not Want the POWER!

As a federally authorized practitioner, you have the right to represent taxpayers before the Internal Revenue Service. You also have an option that you may be failing to exercise when seeking information from the Internal Revenue Service. Form ...

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Hobby, or Not?

IRS often examines tax returns with losses from trade or profession (Schedule C) to determine the legitimacy of the claimed loss. If they decide it is not an activity entered into to make a profit, they will classify it as a hobby loss. The consequence being to disallow the loss and assess...

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TIGTA Finds IRS Revenue Officers Need to Change

IRS may levy Social Security benefits to satisfy delinquent tax balances. However, there are rules to be applied when making the decision to levy Social Security benefits. Treasury Inspector General for Tax Administration (TIGTA) recently conducted an audit of Revenue Officer (R.O.) Social Security levy procedures. They concluded that significant...

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Entrepreneur or Business Owner?

Okay, you’re self-employed. You’re a business owner, but are you an entrepreneur? Being self-employed and a business owner makes you an entrepreneur, right? Wrong. The difference in the two are like saying your daughter’s kitten is the same as a jaguar...

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