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As a business owner, protecting your personal assets should be a top priority. Running a business always involves a level of financial investment and risk. However, as a Sole Proprietor, your personal assets are directly exposed to any debts or liabilities your business incurs. This means that if your business faces financial difficulties or legal … Continued
Just like Taxpayers make mistakes, the IRS makes them too. Sometimes trying to convince the IRS you don’t owe what they say you do is challenging but relief can be found with the U.S. State Tax Court. The United States Tax Court is the court we go to when we dispute what the IRS says … Continued
Struggling with overwhelming credit card bills can be a challenging and stressful situation. Fortunately, filing for Chapter 7 bankruptcy in New Jersey offers individuals a chance to regain financial control. Let’s talk about how our Chapter 7 bankruptcy attorneys were able to help Emily find relief with this option. Emily, like many others, faced a … Continued
Estate planning is a crucial aspect of preparing for the future, and while a Will may be the first thing that comes to mind, it’s important to understand that relying solely on a Will can lead to complications. Despite what you see in movies and TV shows, a Will alone cannot adequately address all of … Continued
Receiving a notice from the IRS can be stressful, but it’s important not to ignore it. In June, millions of taxpayers will receive CP14 notices by mail, informing them of their balance due for unpaid taxes. Several times the notices are wrong, and even if they are right, they impose time deadlines to protect yourself … Continued
The Department of Justice announced last month that a Home Improvement Contractor was sentenced to two years in jail for failing to pay payroll taxes he collected from his employees. In addition to 2 years in jail he was ordered to pay restitution of over $1 million. Unfortunately for Jay Prather of Heritage General Building … Continued
In today’s fast-paced world, saving money may seem like a daunting task. However, adopting a simple and effective savings strategy can make a significant difference over time. One key tip to kickstart your savings journey is to start small. Even if you have eliminated your past debt with bankruptcy, stay on track for the future. … Continued
Lisa Marie Pressley died earlier this year, but although she inherited a fortune of over $100 million, she too left behind over $2.5 million in taxes. Unfortunately those taxes do not go away upon her death. The cash and stocks she had will first go the IRS and then the beloved Graceland which her mother … Continued
Financial literacy is having an adequate level of knowledge about personal finance (such as saving, budgeting, credit management, investing, taxes, insurance and more) so that you can make informed and effective decisions with your money. Being financially literate means that you have a grasp of the fundamentals of smart spending and saving decisions and that … Continued
You betcha! The IRS and the State Tax Division has the right to confiscate your right, title and interest in any asset you own, including your car. That does not mean they will seize your vehicle and sell it, although they do have the right to do that. The IRS and the State Division of … Continued