Tax Planning

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What’s the Difference Between a CDP and a CAP?

Two common ways to stop the Internal Revenue Service (IRS) from collecting is by filing a Collection Due Process (CDP) hearing request or a Collection Appeal Program (CAP) request. Although these two mechanisms are similar, there are several important distinctions to...

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What is the Collection Statute Expiration Date (CSED)?

The Internal Revenue Service (IRS) only has a limited amount of time to take action to collect your delinquent taxes. The Collection Statute Expiration Date (CSED) refers to the amount of time which the IRS has to collect the tax debt you owe. After this time period...

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What’s the Statute of Limitations on Federal Tax Debt?

The statute of limitations for the Internal Revenue Service (IRS) to collect the tax amount you owe is typically ten years. This IRS refers to this period as the “Collection Statute Expiration Date (CSED).” However, understand that various laws and actions can impact...

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Preparing Your Corporation for its Tax Filings

For the purposes of filing federal income taxes, a corporation is considered a separate taxpayer. Any profit made is taxed to the corporation when earned and then taxed to the shareholders upon distribution as dividends. Critically, corporations that generate net...

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What Business Owners Should Know About Payroll Taxes

Business owners must pay various taxes, including income taxes, franchise taxes, sales taxes, and the most dreaded of all – payroll taxes. Payroll taxes can be the most confusing. Even if you hand the responsibility over to a payroll company, as the business owner,...

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Answering Business Tax FAQs with Joshua D. Brinen

Want to know about the ins and outs of business taxes? Listen to Joshua D. Brinen answer some of the most common questions business owners have regarding taxes:  What kind of taxes do businesses pay?  Depending on the structure of the business, a business...

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