The middle of July is a good time to talk about paying your quarterly estimated taxes because the need to file is not imminent. Estimated taxes are required for many people who own small businesses or are self-employed, including those working as independent contractors for an established company. They also may be required for peoplecontinue reading…
Does it make sense to pay your tax debt with a credit card?
You owe federal taxes, and you also have a credit card that will pay rewards on anything you use it for. When you run the numbers, are the rewards worth the cost? Generally, no. Although it might be tempting to rid yourself of that pesky tax debt right away, there are usually better options thancontinue reading…
Is your ITIN set to expire?
The Internal Revenue Service (IRS) recently announced “millions” of Individual Taxpayer Identification Numbers (ITINs) will expire in 2019. What is an ITIN? The IRS provides an ITIN to those who are required to pay tax obligations to the US government but cannot get a social security number. Those who require an ITIN can include: Nonresident aliens thatcontinue reading…
Tax issues after death: How do I file for a loved one?
Navigating the responsibilities that come with closing an estate is not an easy process. In addition to dealing with heirs and creditors, the individual in charge of the estate must also deal with the Internal Revenue Service (IRS). When do I need to file a tax return? The easier question is often when do Icontinue reading…
Minnesota co-op manager charged with tax crimes
Minnesota officials charged a former co-op manager of using business funds to bankroll personal expenses. The government has accused the manager of using his position within the business to gain loans from banks to pay for elaborate hunting trips, real estate purchases and other personal expenses. In addition to wrongly using the funds, the accusedcontinue reading…