Texas - the not so friendly tax state.

Take a look at my new articles discussing Texas taxes and their impact on Texas small business owner.

Click here to review the article. http://ezinearticles.com/?Texas---Not-So-Friendly-Tax-State&id=5002637


Check out my website here. http://cantulegal.com/

Popular posts from this blog

Why an Offer-in-Compromise is More of an Art Form Than a Fill in the Blank Form

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  Fairly soon taxpayers will begin receiving IRS collection notices after several years of hiatus during the COVID outbreak. For more information of this development check out this link.      This will trigger the flood of national Offer-in-Compromise mills to put out their “settle your tax debt for pennies on the dollar” and “The IRS writes off millions of tax debt each year”. Both true statements but read the fine print. You must qualify. Ahh, and therein lies the rub. How do I qualify and keep my country club membership, my Tesla lease and shopping at Whole Foods? The short answer is you can’t. Pro Tip - For more information on What is an Offer in Compromise, check out my web page on this subject.   But what about those taxpayers in the middle – who have legitimate, OIC worthy tax situations? How do they communicate that to the OIC processor? Enter the tax artist.   Form 433A is a complete, in your face, disclosure of your entire financial ...
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Fresh Start: How the IRS Can Help You Get Relief from Back Taxes

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  The Internal Revenue Service (IRS) Fresh Start Program is a program that is designed to help taxpayers who are struggling to pay their taxes. This program provides relief to individuals and businesses who are facing financial hardship and cannot pay their taxes in full. The Fresh Start Program offers various options to taxpayers, such as installment agreements, penalty abatement, and offers in compromise. Installment agreements are payment plans that allow taxpayers to pay their tax debt in smaller, more manageable amounts. Under this program, taxpayers can make monthly payments to the IRS until their tax debt is paid in full. The IRS offers different types of installment agreements, including guaranteed, streamlined, and regular installment agreements. Guaranteed installment agreements are available to taxpayers who owe $10,000 or less in taxes and have filed all of their tax returns. Streamlined installment agreements are available to taxpayers who owe $50,000 or less in taxes ...
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Unlocking the Secrets of an Offer in Compromise: A Comprehensive Guide Chapter 3 - How Much Do I Offer?

  Calculating the Amount of your Offer in Compromise – What is Your Reasonable Collection Potential (RCP)? Drum roll please! This is what you’ve been searching for – how much do I offer? How little can I get away with? Why not low ball them?   Here are the two most important concepts to understand before you start your OIC.   Key Point 1 - You’re not buying a car or a house. The Settlement Agent does not work on commission. They don’t have to settle and the decision to settle rests entirely with the Settlement Officer. Any offer or counter-offer you make has to be backed up by the numbers.   Key Point 2 – Determine your Reasonable Collection Potential before making an offer. Reasonable Collection Potential (RCP) is a key factor considered by the IRS when evaluating an Offer in Compromise (OIC). RCP refers to the amount of money the IRS believes it can collect from a taxpayer based on their assets, income, and future earning potential.   The IRS...
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