Tag Archives: filing taxes

6 Vital Ways A Tax Attorney Can Help Business Owners | The Startup Magazine

Filing taxes is a gigantic undertaking for business owners as figuring out the intricacies of commercial or enterprise-related tax can be difficult and fines can be huge if there is any discrepancy in the process.

Tax audits can be particularly harsh for business owners who have either forgotten or incorrectly filed their taxes even once. Working with a tax attorney can alleviate many of your troubles as they can handle responsibility for correctly calculating your taxes and obtaining the necessary paperwork.

A Comprehensive Analysis Of Applicable Taxes

Tax attorneys are incredibly specialized in tax law and the tax net prevalent in the country. Apart from federal taxes, businesses regardless of size can also be liable to pay local or state taxes. Furthermore, no business (not even a certain type of business) will have the same amount liable in tax.

The full scope of activities of a business and a multitude of other factors determine the end amount of tax that needs to be paid. Businesses that operate internationally or have an established presence in their own country supplying far and wide, will be subject to additional taxes as well compared with very small local businesses. A tax attorney can figure out the exact varieties of tax that apply to your business making the process smoother and hassle-free.

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Biden Order Should Make Filing Taxes, Renewing Passports Easier | Forbes

Americans will likely soon find it easier to do things like file taxes, renew their passport, manage student loans, change their address and more, as President Joe Biden signed an executive order Monday that will improve customer service infrastructure across 17 federal agencies.

The order will direct government officials to “account for the experiences of the public in seeking government services” by making 36 customer service improvements across the federal government, according to a fact sheet released Monday.

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Couple Loses $7,000+ Tax Refund From Being Two Days Late | Forbes

I hate it when people lose out by barely missing a deadline. A recent decision in the Western District of Wisconsin has an important lesson about deadlines. The lesson is that if you are going to rely on special rules to cut things close, you better understand how the rules apply. The couple in the decision, whom I will refer to as John and Jane Toolate – you can read the decision if you want their real names- lost a  $7,386.48 refund by being two days late.

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Employment Taxes 101 for Entrepreneurs | Getentrepreneurial.com

If you thought that filing taxes as a “one man band” was challenging – wait until you hire employees. The government has strict regulations in place for employers that must be followed in order to avoid hefty penalties. Not only will you be responsible for distributing payroll on a periodic basis to your staff, but you’ll also be responsible for paying related taxes for each employee you have on the books. These taxes include federal income, social security, Medicare, and potentially state and city as well.

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