The Hidden Costs of Payroll and Bookkeeping

The Hidden Costs of Payroll and Bookkeeping The visible costs of Payroll and Bookkeeping can be truly daunting. These two areas have been the bane of many small business owner. The visible costs include not just the cost of the service, but also the cost of not doing...

What is an Enrolled Agent & Do I need one?

What is an Enrolled Agent & Do I need one? By Dave Horwedel, EA  “An enrolled agent (or EA) is a federally authorized tax practitioner empowered by the U.S. Department of the Treasury to taxpayers before the Internal Revenue Service (IRS). Enrolled agent...

How to File an Amended Tax Return

How to File an Amended Tax Return   Of course we all want the original return to be perfect. But sometimes you receive data that changes the return after you have filed. Maybe you made a mistake. Maybe your tax preparer did. Maybe you falsely reported income on...

What to Do if You get a Letter from the IRS

  First, do not panic. Yes, it can be upsetting to receive a notice from the IRS. But the first step is to not panic and calmly read the notice or letter. The notice or letter states the reason it was sent, its purpose, and instructions on how to respond. In the...

IRS Statute of Limitations

YES! There is one. There is a point beyond which IRS can no longer collect on a prior tax debt. To find out more about this, click the video below. Torchlight Tax Winning 1.8 Million Dollar Case OK. I am jumping the gun here. But I was so happy that I wanted to share...

What is an Enrolled Agent & Do I need one?

  “An enrolled agent (or EA) is a federally authorized tax practitioner empowered by the U.S. Department of the Treasury to taxpayers before the Internal Revenue Service (IRS). Enrolled agent status is the highest credential awarded by the IRS.”...