Posted inA tax audit Back taxes Tax resolution houston tx

What to Expect When You Are Audited

Tax Defenders know many business owners work so hard they don’t take time to think about their taxes, let alone the risk of an IRS audit. Nearly a quarter of all surveyed business owners failed to even know their own tax rate (CNBC, 2016). This can put you and your business risk. If you receive notice of a tax audit, it is because they have questions regarding your taxes And there are likely to be more questions to follow, questions that can end up costing you money, penalties, and even your business. Tax returns not filed can result in criminal penalties. In May 2018, the Police Commissioner of Baltimore City resigned after being charged with unpaid taxes, with a trial to follow.

Let’s start with basics about an IRS Audit. What can they review? The law allows an IRS audit to go back and review three years of filings and collect up to 10 years of Continue Reading

Posted inBanks Business finance Car loan

Are You Considering Buying Your First Home?

When you graduated from college you had no idea that you would so quickly being paying attention to mortgage rates, down payments, and other adult sounding topics. The fact of the matter is, however, that the generous housing allowance your new employer is including in the benefits for the first year in this new part of the country you are actually considering buying a home. When you look at the low mortgage rates that are available for the kind of home that you are looking at and compare those numbers to the apartment rents in the area, a home purchase makes sense.
Common wisdom says that you should not consider purchasing a home if you are planning to move again in five years, but this is a location that you have always dreamed about and there are lots of opportunities for promotion in this first job, as well as plenty of other competitors in the area. In fact, the job prospects for your field are as high as any other career.
Continue Reading