Archive for October, 2007
Will the IRS Allow My TIthes and Offerings as an Allowable Expense
A good many of my clients give a substantial amount of money to their churches or other charitable organizations and want to know if they can get credit for that as an allowable expense. Many people give a lot of money to their "religious institution" each month either because it is "required" by their religion [...]
Happy Halloween
Halloween is a fun time where everyone can dress up and be "someone they’re not" for a little while. We can escape reality where everyone wants something from us and go to a playful time where we can go to other people’s homes and ask for tricks and treats.
In reflecting on this [...]
I own my house as well as some Investment Properties – Do I qualify for an Offer in Compromise?
The question this week is from a person who owns a house as well as some other investment properties and they would like to know whether they will qualify for an offer in compromise. The answer is: it depends.
What does it depend on, you ask? Well, your financial situation as a whole, [...]
How Does Divorce Effect Our IRS Tax Debt?
QUESTION:
I am going through a divorce and I know that my spouse and I still owe a lot of money to the IRS. We have filed married filing jointly throughout our entire marriage.
ANSWER:
There are several issues that are apparent in your situation, and some that may come up depending on the exact circumstances [...]
How does the IRS Levy a Self Employed Sole Proprietor?
QUESTION:
I am self-employed as an independent contractor and my business is run as a sole-proprietorship. Therefore, I receive a 1099 from the people I work for. I recently recived a notice from the IRS stating that they were going to levy my wages. Since I do not pay myself a monthly paycheck how can [...]
How does the IRS Levy a Self Employed Sole Proprietor?
QUESTION:
I am self-employed as an independent contractor and my business is run as a sole-proprietorship. Therefore, I receive a 1099 from the people I work for. I recently recived a notice from the IRS stating that they were going to levy my wages. Since I do not pay myself a monthly paycheck how can [...]