Jablonsky Tax Relief Articles
Richardson TX – The IRS NFTL. What is the Impact?
When taxpayer’s come into my office in Richardson, TX related to IRS tax debt issues, threat of or Notice of a Federal Tax Lien is one of the major reasons. Taxpayers often don’t understand the process, how a Tax Lien impacts them, and what they can do to avoid one...
Plano TX – How to calculate Insolvency for a Cancelled Debt on Form 982
Two weeks ago, I wrote that there are certain situations which permit the exclusion from Gross Income on a Taxpayer’s tax return, when they are the recipients of debt forgiveness that would typically be taxed. One of the options that permitted exclusion was for debt...
Richardson TX – Who Qualifies for the Home Office Deduction
In some case, entrepreneurs who work from home can write off a portion of their housing and utility expenses. That's often a big question for our clients in our Richardson, TX tax office, who use part of their home in their business. If you qualify, it can have a...
Add Functionality to Your Accounting System with Apps
Did you know that you can add apps to help increase the functionality of your core accounting system? The process will save you time and frustration. It is because every business is different that you may—and likely will—need these add-on features that aren't already...
Plano TX – Are you aware that there are exceptions to Being Taxed on Cancelled Debt? Here’s a List of Them.
As I wrote a week ago, in general, if you borrow money and you are legally obligated to repay that debt at a future date, and if that debt is forgiven in full or in part, the cancelled debt becomes taxable income to you. I also discussed Amounts that could be excluded...
Plano TX – When Does a New Business Need an EIN
When new business owner's come into our Richardson, TX tax office, a common question is if the business needs its own Employer Identification Number (EIN). An EIN is a nine-digit number that the IRS assigns to identify tax accounts. It’s also referred to as a Federal...
Plano TX – When to Exclude Debt Forgiveness From Taxable Income!
In general, if you borrow money and you are legally obligated to repay that debt at a future date, if that debt is forgiven in full or in part, the cancelled debt becomes income to you. However, there are situations that tax law permits you to exclude the income...
Frisco TX – Did You Know That The IRS May Accept a Payment Plan That Won’t Full Pay Your Tax Debt? The Partial Pay Installment Agreement (PPIA)
Did you know that as a taxpayer who owes income taxes to the IRS, you may qualify for a payment plan that if all payments are made, will not completely pay your tax debt within the 10 years that the IRS has to collect income tax debt? Many taxpayers who come to our...
Plano TX – Owe the IRS? You May Have Passports Problems!
When taxpayer’s have IRS Debt, the IRS has a number of tools to use to collect the debt. Those include levies, liens, and can also include revoking the taxpayer’s passport. For some taxpayers, this is not a major threat. For others, there can be a substantial...
Richardson TX – Starting a New Business? Tips Every New Business Should Follow.
Starting a business is exciting and nerve-wracking all at the same time. Our Tax firm is in Richardson, TX, and every day, there are hundreds of new businesses being formed in the DFW area. The process of starting a new business can be intimidating and the “to do”...
Start Your Tax Relief Journey with Bob Jablonsky, EA and CTRS
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