Back Taxes Or Tax Debt

There is an old adage – ignorance of the law is no defense. The same might be said about ignorance of what others do on your behalf. There is no denying that the responsibility of meeting possible tax obligations can be an onerous thing. And it is also true that as one’s assets and businessescontinue reading…

When you think about the sale of a business, you typically think about the assets of the business being sold to another party in exchange for a sum of money. Of course, the sale would be a taxable event for the seller, as he or she could realize a windfall in the transaction. In thecontinue reading…

There are so many sayings that seem to apply to our topic today. There’s the one in the headline. There’s also, once bitten, twice shy. And how about, the definition of insanity is doing the same thing over and over again and expecting a different result. Back in April, word came down that the IRScontinue reading…

When you purchase property, is it really yours? The answer, of course, is yes. However, there are qualifiers. If you borrow money to buy a house or car and use the property as collateral, your lender has a stake in the game in the form of a lien. However, even if you hold clear titlecontinue reading…

There is no single answer to the question posed above. Perhaps the most useful response is that the best option is the one in which you clear your tax debt in the shortest amount of time with the least amount of financial hardship. In one previous post, we discussed the potential value of seeking a first time penaltycontinue reading…