Did you know that you could owe taxes on debt that was canceled? Well, you could. This is how it works. When you owe creditors money that you can't afford to repay, sometimes you may be able to get the debt forgiven or otherwise canceled. When this...

Did you make money with cryptocurrency in the past? For early adopters of Bitcoin, Ethereum, and other cryptocurrencies, the profit potential has been simply stunning. While there has been some heart-stopping moments and frightening ups and downs, the clear long-term trajectory has been upward. If you...

Falling behind on your debts is never a fun place to be. It’s less fun when a levy is placed on your assets. This article, IRS and Other Asset Levies Explained, looks at what an IRS levy is, why it happens, and what you can...

The IRS Filed a Substitute for Return on Your Behalf! If you failed to file your tax return(s) for one or more years, you might be surprised to learn that the IRS has filed an SFR, a substitute tax return on your behalf. When the IRS...

Oh, no! Tax time is almost here. If your tax return is a simple one, you may be able to file the return yourself. However, if your situation is more complicated and you are not confident preparing your return, seeking a qualified professional's help is...

Filing your taxes is always stressful. However, tax time for restaurant owners can easily have you scratching your head in confusion. Knowledge of business accounting is essential. You need to understand your potential deductions and the correct reporting of them. It's necessary to have a...