Click to toggle navigation menu.
   

Loading

ExpertBeacon Logo
Home » Money
Joe Mastriano's picture

How to make sure your tax returns are never audited by the IRS

Joe Mastriano, CPA
“Killer IRS” CPA
Valrie Chambers's picture

What to do if you can't pay the taxes that you owe

Valrie Chambers
Associate Professor of Taxation and Accounting, M.E. Rinker Institute of Tax and Accountancy
Richard J. Bloom's picture

Filing and preparing taxes for high net worth executives

Richard J. Bloom, CPA, PFS, MST
Partner
Lee Rawiszer's picture

Tips for year-end tax planning

Lee Rawiszer
Managing Principal
Jude Bijou's picture

Quit procrastinating and get your taxes done now

Jude Bijou MA MFT
Psychotherapist and Award-winning Author
Scott M Estill's picture

Understand your tax debt resolution options and rights with the IRS

Scott M. Estill PC
Speaker, Author, Lawyer
Ron Portell's picture

Donor-advised funds help manage and distribute charity donations

Ron Portell, CAP®
Co-Founder and Managing Director
LaVon Chancy's picture

Maximize tax deductions and credits on your tax return this year

LaVon Chancy, JD, CPA
Director of Tax and Business Advisory Services
Kevin Gallegos's picture

What to do when you do not have enough money to pay your taxes

Kevin Gallegos
Vice President of Phoenix Operations
1
2
3
4
5
6
7
8
9
10

Taxes

Benjamin Franklin once said that nothing in life is certain but death and taxes. There seems to be a tax for everything these days including income, property ownership, sales, and capital gains on sales of assets. Taxes are collected by governments at the federal level, states, province, and local level. Your estate may even get taxed upon your death. Successfully dealing with taxes can make a large impact on your financial situation, and can also keep you out of trouble with the law and the IRS. Visit ExpertBeacon for help and advice from tax experts including accountants, financial planners, baking specialists, and much more.

How to make sure your tax returns are never audited by the IRS

A CPA firm should advise people that if they want to avoid being audited, that they should follow certain procedures. Anyone who follows these guidelines will be successful in not having their income tax return audited by the IRS. It’s that good. This article discusses the four things they must do, along with other do’s and don’ts to have the best level of audit protection available.

Joe Mastriano, CPA“Killer IRS” CPA

Billed as the Expert on Fox News Radio heard weekly! Our Clients Returns are almost never audited! Professional: I have owned a Texas CPA firm for more than 30 years, representing thousands of taxpayers before the IRS. I specialize in helpi...

View Full ProfileRecent Articles

Filing and preparing taxes for high net worth executives

Preparing and filing tax returns for high net worth individuals who serve as executives in a company or organization presents many challenges and opportunities. These individuals often have a significant amount of their compensation paid in the form of equity and may have alternative forms of investments, multiple homes, and/or unique charitable planning objectives. Keeping in mind some simple dos and don’ts will help ensure that tax filing goes smoothly.

Richard J. Bloom, CPA, PFS, MSTPartner

Richard has more than 20 years of experience delivering specialized personal tax and financial planning services to high net worth individuals, including closely held business owners, executives, and hedge fund managers. He provides tax consulti...

View Full Profile

Quit procrastinating and get your taxes done now

Procrastinating is a behavior that springs from wanting to avoid a task that's unpleasant or daunting. Take the example of taxes. What's interesting is that the act of just sitting down and doing them is usually much easier than dealing with the emotions triggered by putting them off -- emotions such as feeling worried about getting a penalty, fearful of doing them wrong and risking an audit, and stressed-out about locating all those records from the past year.

Jude Bijou MA MFTPsychotherapist and Award-winning Author

Jude Bijou MA MFT is a respected psychotherapist, professional educator, and workshop leader. Her theory of Attitude Reconstruction® evolved over the course of more than 30 years working with clients as a licensed marriage and family therapist. ...

View Full ProfileRecent Articles

Donor-advised funds help manage and distribute charity donations

For many wealthy investors, giving back is a regular occurrence. The same can often be said of community-oriented organizations. While there are several charitable giving options out there, donor-advised funds have become increasingly popular in the last few years. They are often more easily established, cost efficient, and flexible in nature than creating a private foundation to facilitate donations.

Ron Portell, CAP®Co-Founder and Managing Director

Ron Portell specializes in creating and implementing investment strategies for high-net-worth families, foundations, endowments and institutions that equal their investment goals and risk tolerance, while providing the credibility for further in...

View Full Profile

Small business owners: do a mid-year review of taxes and finances

As a small business owner wanting to make sure your business is on track for success, it is important to conduct a mid-year review of your finances. Yes, a nice warm-weather vacation away from work may be more tempting than reviewing financial spreadsheets, but it’s important to check your progress half-way through so you can avoid potential trouble down the road. A “check-up” halfway through the year, especially as it relates to your taxes, can ensure your business is on target to meet its year-end goals. As you conduct your financial check-up, consider the following advice.

Edward RigbyTax Expert and Principal

Edward Rigby has 19 years of professional tax experience and has served as the lead tax advisor for leading companies in the pharmaceutical, orthopedics manufacturing and financial services industries. Rigby specializes in advising clients on me...

View Full Profile

Advice for a sole proprietor business owner facing an IRS audit

A sole proprietor who files a Schedule C with his or her Form 1040 that reports $100,000 or more in gross receipts, has a much higher audit profile than the typical employee who receives that amount or more reported on a W-2. An IRS audit can be a scary proposition for a small business owner. However, there are things a sole proprietor can do to assess the risk, and prepare for and respond to an audit that can make the process less painful.

Christine A. Reuther, Esq.Shareholder

Christine is a shareholder at McCausland Keen & Buckman in the Tax and Business practice areas. Her practice focuses on tax and business planning for privately held corporations and pass through entities, including limited liability companies, p...

View Full ProfileRecent Articles

Small businesses can cut taxes by donating excess inventory

Excess, non-moving inventory is a common problem that contains its own solution. By donating new, idle merchandise to charity, your business can earn a federal income tax deduction under Section 170 (e) (3) of the U.S. Internal Revenue Code.

The IRS Code says that regular C corporations may deduct the cost of the inventory donated, plus half the difference between cost and fair market value. Deductions may be up to twice cost.

Gary C. SmithPresident

Gary C. Smith is the president of NAEIR. For more information on how companies can realize an enhanced federal tax deduction on donations of excess inventory, contact NAEIR at (800)-562-0955 or donor@naeir.org, or visit www.naeir.org...

View Full Profile

Advice for filing taxes on your own for the first time

You are not a kid anymore. You now have to do your own tax return. No matter if you are 18 or 30 years old, if you are filing your taxes for the first time, it is important to educate yourself about the tax laws so that you know how to file your federal and state return correctly and on time, while also maximizing your deductions so that you can pay as little as you can to the government. Here is some advice to help.

Joe Mastriano, CPA“Killer IRS” CPA

Billed as the Expert on Fox News Radio heard weekly! Our Clients Returns are almost never audited! Professional: I have owned a Texas CPA firm for more than 30 years, representing thousands of taxpayers before the IRS. I specialize in helpi...

View Full ProfileRecent Articles

Protect against an IRS audit when you file small-business taxes

Your small- or home-based business can legally reduce its federal income tax liabilities without increasing the odds of an IRS audit. In my twenty-five years of practicing law—including time spent as an attorney for the IRS—I have seen many common mistakes small businesses make. Mistakes increase the odds of an IRS audit, and also increase the amount of taxes they will ultimately pay.

Scott M. Estill PCSpeaker, Author, Lawyer

Attorney Scott M. Estill is a nationally-recognized and sought-after tax speaker and author. He has written multiple books and workshops that help people and businesses save money (with tax planning) on tax deductions and tax strategies for both...

View Full ProfileRecent Articles

Hire a trustworthy and qualified certified public accountant (CPA)

So you have reached the point where you are ready to hire a Certified Public Accountant (CPA) to assist you with certain financial aspects of your life. The first thing you need to realize when you start searching is that not all CPAs are equal. CPAs often have expertise in differing areas of accounting, and some are better than others in specific areas. There are certain steps that you can take and various traits to look for to make sure that you find a CPA that is good at what they do, and also one that is a good fit for you and your specific situation.

Karl Schwartz, CPA, CFPConsultant

Prior to joining Hewins Financial in 2008, Karl Schwartz worked as a tax accountant for Wipfli LLP for nearly four years. With a firm grasp on taxation and wealth management solutions, and working as a Consultant with Hewins, Karl broadened his ...

View Full Profile

Be prepared for when you get audited by the IRS

“The only two certainties in life are death and taxes,” a famous quote from Benjamin Franklin and later attributed to Mark Twain, is more appropriate today than ever due to the almighty IRS. And perhaps the most powerful weapon available to the IRS today is the tax audit. In this article, learn what to do (and not do) when confronted with the IRS audit machine.

Scott M. Estill PCSpeaker, Author, Lawyer

Attorney Scott M. Estill is a nationally-recognized and sought-after tax speaker and author. He has written multiple books and workshops that help people and businesses save money (with tax planning) on tax deductions and tax strategies for both...

View Full ProfileRecent Articles

What to do if you can't pay the taxes that you owe

Valrie Chambers Associate Professor of Taxation and Accounting, M.E. Rinker Institute of Tax and Accountancy Stetson University

As the tax deadline approaches, what should you do if you think that you can’t pay taxes that might be due? That’s obviously not a good situation to be in, but you can minimize the damage by doing a few key things.

Valrie ChambersAssociate Professor of Taxation and Accounting, M.E. Rinker Institute of Tax and Accountancy

Dr. Chambers is an Associate Professor of Accounting at Stetson University in Celebration, FL, USA. Prior to receiving a Ph.D. from University of Houston concentrating in taxation in 2000, she had over a decade of public accounting experience as...

View Full Profile

Tips for year-end tax planning

Lee Rawiszer Managing Principal Paradigm Financial Partners

As the year comes to a close, it’s time to stop and evaluate your current financial position in preparation for filing this year’s taxes. A year-end review can present new tax-saving opportunities and various financial planning strategies. Take into consideration these expert tips for year-end tax planning before the New Year.

Lee RawiszerManaging Principal

As an independent financial advisor, Lee Rawiszer helps high-net-worth professionals, entertainers and business owners understand their current financial situations and define future goals. Lee believes that financial planning is a process that ...

View Full ProfileRecent Articles

Understand your tax debt resolution options and rights with the IRS

Many American taxpayers will end up owing the IRS money after a tax return is filed. Unfortunately, in many instances, this tax debt cannot immediately be paid in full. As a result, the IRS Collection Division will come into play. The primary goal of the Collection Division is to obtain the most amount of money from a taxpayer in the shortest period of time.

Scott M. Estill PCSpeaker, Author, Lawyer

Attorney Scott M. Estill is a nationally-recognized and sought-after tax speaker and author. He has written multiple books and workshops that help people and businesses save money (with tax planning) on tax deductions and tax strategies for both...

View Full ProfileRecent Articles

Maximize tax deductions and credits on your tax return this year

Benjamin Franklin said “...In this world, nothing can be certain, except death and taxes.” If you make death preparations with the advice from an attorney, why not plan for the other by working with a CPA or Tax Advisor? With advice and planning, the tax filing process is not only less morbid than death, but can be financially gratifying as well.

LaVon Chancy, JD, CPADirector of Tax and Business Advisory Services

Education: BS Accounting from Temple University and Juris Doctor from Beasley School of Law, Temple University Years of Experience: 18 Ms. Chancy is Director of Milligan & Company’s Tax and Business Advisory Services, responsible for m...

View Full Profile

What to do when you do not have enough money to pay your taxes

Kevin Gallegos Vice President of Phoenix Operations Freedom Financial Network

Many Americans approach the tax season not knowing whether they will get a refund or owe money to the Internal Revenue Service (IRS) and/or their state government. In fact, more than half of taxpayers will owe some amount. If that is the case for you, and you find you can’t pay the full amount, follow this advice.

Kevin Gallegos Vice President of Phoenix Operations

Kevin has worked with Freedom Financial Network since 2005. Before that time, he held the position of enrollment sales supervisor for Nationwide Financial Solutions in Tempe, Ariz. Kevin also has worked as a business analyst and customer service...

View Full ProfileRecent Articles

Tax advisers do taxes and can help improve your financial health

Although many are tempted to use software to file their taxes each year, nothing beats a personal relationship with a trusted tax advisor. Your advisor will not only file your taxes by April 15, but also improve your financial health by showing you all year how to better prepare for your tax filing. This advice will help you find the best advisor for your needs.

Ann Marie Casinelli, CPASenior Manager

Ann Marie Casinelli has over 20 years of accounting experience, including 12 years in public accounting. In her role as senior manager at ParenteBeard, she collaborates with attorneys, investment advisors, family offices and integral parties to ...

View Full Profile

What can independent contractors do to help reduce their tax bill?

An independent contractor is a small business. Like every business, the independent contractor has to pay taxes. Like every business, the independent contractor has expenses. And, like every business, it is important to have a plan. Before the tax year begins, do some tax strategizing so you can take advantage of deductions when they will give you the greatest value. You also need to remember that sometimes the biggest tax savings are the interest, penalties, and audit costs you avoid by following the rules.

Christine A. Reuther, Esq.Shareholder

Christine is a shareholder at McCausland Keen & Buckman in the Tax and Business practice areas. Her practice focuses on tax and business planning for privately held corporations and pass through entities, including limited liability companies, p...

View Full ProfileRecent Articles

Should you have a professional tax preparer do your personal taxes?

Not everyone needs to use a paid preparer to do their tax returns, but as the Internal Revenue Code grows ever more complicated, a paid preparer can provide some peace of mind and a substantial time savings for a price. Whether you use a paid preparer comes down to a cost benefit analysis based on your individual situation. Here is some advice to consider when making your decision.

Christine A. Reuther, Esq.Shareholder

Christine is a shareholder at McCausland Keen & Buckman in the Tax and Business practice areas. Her practice focuses on tax and business planning for privately held corporations and pass through entities, including limited liability companies, p...

View Full ProfileRecent Articles

Advice on hiring the right tax attorney to help you fight an IRS audit

Many Americans will face the IRS at some point in their lives. Over the years and as many people’s taxes become more and more complicated, facing a tax audit is likely. While many of these audits are “routine,” and can be handled by any qualified tax professionals—including an attorney, CPA, accountant, or enrolled agent—there are some instances where only a tax attorney will suffice.

Scott M. Estill PCSpeaker, Author, Lawyer

Attorney Scott M. Estill is a nationally-recognized and sought-after tax speaker and author. He has written multiple books and workshops that help people and businesses save money (with tax planning) on tax deductions and tax strategies for both...

View Full ProfileRecent Articles

Expert advice on dealing with the IRS on back taxes and collections

The IRS wields a great deal of power when it comes to enforcing the tax laws and collecting tax revenue for the government. However, that power is not absolute and taxpayers have many rights when the IRS is attempting to enforce the collection of a tax debt. This article will briefly discuss the main points to consider when dealing with the massive IRS collection machine.

Scott M. Estill PCSpeaker, Author, Lawyer

Attorney Scott M. Estill is a nationally-recognized and sought-after tax speaker and author. He has written multiple books and workshops that help people and businesses save money (with tax planning) on tax deductions and tax strategies for both...

View Full ProfileRecent Articles