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5 Lessons Learned From Tax Season

Posted in Tax News on May 5, 2013

Another Tax Season has come and gone.  Here are the 5 Lessons Learned from this Tax Season.  1) Don’t Pass Tax Legislation on December 31 Congress passed the American Taxpayer Relief Act on December 31, 2012.  It’s clear that no…

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3 Reasons I Encouraged My Son to Open a Roth IRA

Posted in Tax News on April 28, 2013

I recently suggested to my son that he open a Roth IRA.  Here are the 3 reasons why.    1) He’s Young The Roth IRA offers a huge advantage over a regular IRA. This is particularly so for younger people. …

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How to Get an IRS Tax Penalty Waived

Posted in Tax News on April 21, 2013

  The Internal Revenue Service (“IRS”) has many tax penalties for taxpayers that fail to meet certain requirements. Some of these penalties are:

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How to Save $267,892 of Income Tax, Penalties and Interest

Posted in Tax News on April 14, 2013

A new client came to us late last summer. She dropped off a notice from the Internal Revenue Service (“IRS”). It indicated her and her husband owed $267,892 of back taxes, penalties and interest. I don’t know about you, but…

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4 Easy Steps to File Your Income Tax Extension

Posted in Tax News on April 7, 2013

Your 2012 income tax return is due on April 15, 2013. What if you can’t get it done on time? Here are 4 easy steps to file your income tax extension.     1) Prepare a Tax Projection

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