When you owe creditors money that you can't afford to repay, sometimes you may be able to get the debt forgiven or otherwise cancelled. When this happens, you no longer owe your creditors the money that you used to owe them. The IRS, however, usually treats such canceled debt as income that you'...
For early adopters of Bitcoin, Ethereum, and other popular 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 are one of those early adopters who p...
Whether you file the simple 1040EZ or a complicated 1040 and a raft of schedules, making a mistake on your tax form could lead to significant tax trouble. Something as simple as a math error or unsigned form could invite extra attention from the IRS. The tax agency sees those mistakes every ye...
Few people look forward to tax filing season. Unless you are an accountant who loves tax season, you probably dread this time of year, and you are thrilled when your return is in, and your refund is on the way, or your tax debt is all paid off. When you sign your tax return and send it in, you...
Tax time will be here (again) before you know it. If your tax return is a simple one, you may be up to filing the return yourself. But if your situation is somewhat complicated, seeking the help of a qualified professional is probably the best move. Our firm specializes in helping people resol...
Working from home can be a dream come true, especially if you also work for yourself. Opportunities for freelancers, gig workers and other self-employed men and women have exploded in recent years, giving people the freedom they crave without sacrificing the income they need. This opportunity is ...
Filing for bankruptcy is a complicated and draining process. People often feel ashamed, scared, or confused. If you find yourself with no other options, bankruptcy can be an excellent way to clear out old debts, change financial patterns and, most importantly, get a fresh start. Here is everythin...
If you are drowning in debt and working harder and harder to make ends meet, you may think a bankruptcy filing is the only way out, but that is not necessarily the case. Filing for bankruptcy is one solution, but it is a drastic step that should only be taken as a last resort. This is especial...
2020 threw a huge wrench into everything and the IRS collections proceedings are no exception. With the tax deadline pushed until July 15th and a lot of the IRS closed under shelter at home orders due to COVID19, to the IRS being tasked with sending millions of Americans their stimulus checks, t...
Whether it is a global pandemic shutting the economy down for months on end, a stock market crash that leaves formerly giddy investors frightened and nervous or a housing crisis that makes real estate a risky bet, living through tough economic times is never easy. Even so, how you handle yours...
With the filing deadline moving from the traditional date of April 15th to July 15th because of the coronavirus pandemic, it can be tempting to put off filing your taxes for as long as possible. Most taxpayers dread the tedious task of compiling their financial records, tax documents and filin...
