The Complete Guide to Small Business Taxes

By Top Tax Staff

For business owners everywhere, the end of the year means that it is time to get ready to file their businesses’ tax returns. Rather than wait until the last possible minute, you can get ready now for tax filing season with some common sense advance planning. These strategies could help you maximize your deductions, lower your taxable income, and possibly increase the amount of your tax refund. 

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New 2019 Income Tax Brackets and Rates

By Top Tax Staff

Tax codes are subject to change with each passing year. For the upcoming 2018 tax year, the changes can significantly impact the way you file your return. Before you file, you may want to learn more about the new IRS tax brackets and how the tax code changes could affect what deductions you plan to take when you file your taxes. 

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What to Consider When Choosing a Tax Resolution Service

By Top Tax Staff

Approaching the IRS on your own can be a daunting undertaking. You may not know how to advocate for yourself when you owe back taxes or have a complicated tax debt case with which you must contend. 

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An Employer's Guide to IRS Wage Garnishment

By Top Tax Staff

As an employer, you are required to follow precise state and federal laws when paying your employees. Along with paying them what they have earned, you also must withhold amounts from their paychecks whenever your employees are garnished. You can comply with a garnishment order fully by understanding what it is and under what circumstances the state or federal government requires you to withhold money from your employees' earnings. 

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What is the IRS Fresh Start Program?

By Top Tax Staff

When you owe the IRS a substantial amount of money, you might wonder how you can get it paid in full without incurring costly interest and penalties. Rather than going deeply into debt, you could pay off what you owe affordably by making use of the IRS Fresh Start Program. You can decide if this program is right for your tax debt situation by learning what it is and how to apply for it today. 

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How to Avoid a Federal Tax Lien

By Top Tax Staff

 

The IRS uses a variety of collection activities to collect what taxpayers owe to the government. Among these tactics, a federal tax lien can be among the most difficult with which to cope. 

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Using the Child Care Tax Credit to Deduct Day Care Expenses

By Top Tax Staff

Child care expenses can put a strain on your household budget. When you want to recoup some of what you have paid toward daycare or child care expenses during the year, you could claim them on your tax return. 

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Can I Go to Jail for Unfiled Taxes?

By Top Tax Staff

Failure to file and pay your taxes on time each year invites a host of penalties that can inflict long-lasting damages on your life and finances. Out of all of them, you might fear going to jail the most. 

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The Impact of Unfiled Tax Returns on Your Security Clearance

By Top Tax Staff

You realize you have to file and pay your taxes by the April deadline each year. Despite being aware of this obligation, you might fall short of fulfilling it. In turn, you could compromise critical aspects of your job including your ability to keep or maintain your security clearance. 

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The Impact of Wage Garnishment on Your Credit Report

By Top Tax Staff

When you owe money to a creditor, that person or company has the right to pursue the debt through a variety of methods. It can send you letters or make phone calls to your home to demand payment on the account. It can also ask a judge to have your wages or salary garnished until the debt is paid in full. 

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