You’ve been summoned by the IRS, now what?

In general, unless you are expecting a refund check, a letter from the IRS is an anxiety-inducing experience. Occasionally, the IRS sends out an Information Document Request ( IDR), asking for information. While you do not have a legal obligation to comply, if you...

Bonus depreciation available to business owners

We’ve written extensively on the potential impacts of the new Tax Cuts and Jobs Act. While it’s true that we know your 2018 tax situation could look different compared to last year, not everyone is sure what it will look like on an individual level. If you are a...

What happens if I can’t pay the IRS?

According to the Tax Foundation, income earners in the U.S. are subject to an average tax rate of 21 percent. That figure can prove burdensome for business owners and individuals who find themselves owing money at tax time. Although the bill may be unwelcome, you...