Our Tax Blog
A collection of our articles on various aspects of taxes. We cover Tax Representation subjects (collections, liens, levies, penalty abatement), individual tax situations, and business taxes.
S Corps and Basic Tax Savings
I briefly discussed LLCs, S Corporations, and C Corporations in a previous article. In this article, I’ll expound more on S Corps, their basic operating principles, and demonstrate potential tax savings. The Inception of an S Corporation S Corps are an...
Self-employment Deductible Expenses
This is probably one of the more anticipated questions, especially around tax season. What can you deduct as a business expense? Most of it is pretty easy and straight forward. But first, a few quick notes. Keep...
The Difference Between the Actual and Simplified Methods for the Home Office Deduction
Self-employment Deduction Benefits One of the great benefits of being self-employed and working from home is the Home Office Deduction (video version here). To qualify for the home office deduction, your home office needs to be used exclusively on a regular...
The Nitty Gritty Tax Example with Calculations
Income Tax Table You'll need an income tax table to follow along with the examples. Here's a very succinct version of the 2019 Income Tax Table used in the examples below. (The actual standard deduction used below is rounded for simplicity. The real values for 2019...
Understanding Income Tax Brackets and How They Work
Sliding Brackets Income tax brackets are considered a “sliding bracket”. Various portions of your income are taxed independently of each other. For example (rounded numbers used for simplicity), if you’re single, the first $10,000 of taxable income is...
Paying Estimated Quarterly Taxes, 2019
What are Estimated Quarterly Taxes? Taxes are a pay-as-you-go system. For people who are self-employed, the government requires taxes to be paid at least four times per year (thus "quarterly" taxes). Quarterly taxes include all taxes owed (income tax, self-employment...
Tax Resolution in Salt Lake City, UT (or anywhere else!)
Tax Resolution What is Tax Resolution? Tax Resolution is the area of taxes where a credentialed tax specialist (like an Enrolled Agent) is able to represent you before the IRS to resolve your tax issues. Tax issues can be things such as collections, penalty abatement,...
Expats, Taxes, and S Corps
Advice If you're an expat and looking for some tax advice and help, keep reading! Being overseas adds an extra layer of difficulty come tax time. We're here to hopefully alleviate some of that burden for you. We'll touch on a few key questions that come up a lot....
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