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Understanding the Offer in Compromise
You probably have seen commercials about tax forgiveness or a “fresh start”. The commercials are more than likely referring to the Offer in Compromise (“OIC”). In this post we will discuss what an offer in compromise is, why it exists, how to request an OIC, factors considered by the IRS when reviewing an OIC submission,…
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Considerations When Choosing Health Insurance
Health insurance may be more important than ever with the current environment we are in. The last thing anyone needs is an excessive medical bill they can’t afford. Health insurance provides financial protection in case you have a serious accident or illness. In this post we will discuss key policy related items you should consider…
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IRA Considerations for Your Retirement?
Saving for retirement is very important, we all know that. One important tool in helping you save for retirement is an Individual Retirement Account (“IRA”). In this post we will first discuss what an IRA is. Second, we will discuss who’s able to open a traditional and Roth IRAs. Third we will discuss the difference…
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The Concept of Income & Sales Tax Nexus
One of the biggest misunderstandings for entrepreneurs is the idea of nexus as it applies to: This can be troublesome since nexus is crucial for understanding when and where businesses are required to collect and remit sales and income taxes. In this post we will touch on what nexus is and how it’s generally determined…
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CARES Act Recap
The Coronavirus Aid, Relief, and Economic Security (“CARES”) Act (or “the Act”) was passed by Congress with overwhelming, bipartisan support and signed into law by President Trump on March 27th, 2020. The Act is intended to provide fast and direct economic assistance for American workers and families, small businesses, and preserve jobs for American industries. …