hrltax.com RSS Feed https://hrltax.com/ Take a look at our recent blog posts and client newsletter articles. en-us Mon, 01 Mar 2021 09:00:00 -0600 Mon, 01 Mar 2021 09:00:00 -0600 Tax Breaks for Families With Children https://www.hrltax.com/newsletter.php#3 If you have children, one or more of these tax credits and deductions could help your family reduce the amount of tax owed. Mon, 01 Mar 2021 09:00:00 -0600 https://www.hrltax.com/newsletter.php#3 Small Business Tax Roundup https://www.hrltax.com/newsletter.php#4 In 2020, the IRS issued a number of guidance documents as well as final rules and regulations that clarified several tax provisions affecting businesses. Mon, 01 Mar 2021 09:00:00 -0600 https://www.hrltax.com/newsletter.php#4 Renting Out a Second Home https://www.hrltax.com/newsletter.php#2 Tax rules on rental income from second homes can be confusing, especially if you rent the home out for several months of the year and also use the home yourself. Mon, 01 Mar 2021 09:00:00 -0600 https://www.hrltax.com/newsletter.php#2 Capital Gains Tax on Sale of Stocks https://www.hrltax.com/newsletter.php#5 If you made money last year buying and selling stocks, you may owe capital gains tax. Mon, 01 Mar 2021 09:00:00 -0600 https://www.hrltax.com/newsletter.php#5 Avoiding an IRS Tax Audit https://www.hrltax.com/newsletter.php#1 With taxes becoming more complicated every year, there is an even greater possibility of tax confusion turning into a tax mistake and an IRS audit. Avoiding "red flags" like these could help. Mon, 01 Mar 2021 09:00:00 -0600 https://www.hrltax.com/newsletter.php#1 Types of Financial Statements for Your Business https://www.hrltax.com/newsletter.php#feed_1056

Financial statements help you analyze your company's performance and meet your business goals.

The post Types of Financial Statements for Your Business first appeared on www.financialhotspot.com.
Wed, 24 Feb 2021 00:00:00 -0600 https://www.hrltax.com/newsletter.php#feed_1056
FAQs on Taxes for Expats https://www.hrltax.com/newsletter.php#feed_1048

Hiring a professional tax preparer that's conversant with expatriate taxation helps reduce your tax burden.

The post FAQs on Taxes for Expats first appeared on www.financialhotspot.com.
Wed, 17 Feb 2021 00:00:00 -0600 https://www.hrltax.com/newsletter.php#feed_1048
What You Should Know Before Applying for a Credit Card https://www.hrltax.com/newsletter.php#feed_1043

Credit cards can be a positive or negative influence on your financial health. Find out how!

The post What You Should Know Before Applying for a Credit Card first appeared on www.financialhotspot.com.
Wed, 10 Feb 2021 00:00:00 -0600 https://www.hrltax.com/newsletter.php#feed_1043
Tax Planning Tips for Your Business https://www.hrltax.com/newsletter.php#feed_1039

Business tax planning is essential for growth and success, find out more!

The post Tax Planning Tips for Your Business first appeared on www.financialhotspot.com.
Wed, 03 Feb 2021 00:00:00 -0600 https://www.hrltax.com/newsletter.php#feed_1039
What's New for 2020 Tax Returns https://www.hrltax.com/newsletter.php#2 Taxpayers should be aware of several key items involving credits, deductions, and refunds when filing their tax returns this year. Mon, 01 Feb 2021 09:00:00 -0600 https://www.hrltax.com/newsletter.php#2 Taxable vs. Nontaxable Income https://www.hrltax.com/newsletter.php#5 Are you wondering if there's a hard and fast rule about what income is taxable and what income is not taxable? The quick (and easy) answer is that all income is taxable unless the law specifically excludes it. Mon, 01 Feb 2021 09:00:00 -0600 https://www.hrltax.com/newsletter.php#5 Tax Filing Season Starts February 12 https://www.hrltax.com/newsletter.php#1 The IRS begins accepting and processing 2020 tax year returns on Friday, February 12, 2021. Mon, 01 Feb 2021 09:00:00 -0600 https://www.hrltax.com/newsletter.php#1 Social Security Benefits and Taxes: The Facts https://www.hrltax.com/newsletter.php#4 Generally, you pay federal income taxes on your Social Security income only if you have other substantial income in addition to your benefits. Mon, 01 Feb 2021 09:00:00 -0600 https://www.hrltax.com/newsletter.php#4 Employer Tax Credit Extended for Payroll Workers https://www.hrltax.com/newsletter.php#3 Extended through June 30, 2020, the Employee Retention Credit helps businesses keep their employees on the payroll - despite the challenges posed by COVID-19. Mon, 01 Feb 2021 09:00:00 -0600 https://www.hrltax.com/newsletter.php#3 How to choose the right tax accountant for your Business https://www.hrltax.com/blog.php?id=25 Having the right accountant to work with is extremely important for any businesses. This directly leads to one of the most frequently asked questions to all business owner; How to choose the right tax accountant for your business. Mon, 20 Jan 2020 09:00:00 -0600 https://www.hrltax.com/blog.php?id=25 What to do When an EDD Auditor requesting an Extension of your Audit Statue [Form DE 1977] https://www.hrltax.com/blog.php?id=24 It is very common for EDD auditor to request a wavier of the statue from Taxpayer. Understanding how to deal with this situation is extremely important to the outcome of an EDD audit. This article provides taxpayers with insight information on the topic of an EDD audit. Wed, 28 Aug 2019 09:00:00 -0500 https://www.hrltax.com/blog.php?id=24 EDD Audit Process Summary https://www.hrltax.com/blog.php?id=23 Put it in simple words, the main objective of an EDD audit is not only to review the accuracy of the payroll tax return filed but also exanimate the employer records for the compliance requirements listed below: Sun, 11 Aug 2019 09:00:00 -0500 https://www.hrltax.com/blog.php?id=23 Reasonable Causes for IRS Penalty Abatement https://www.hrltax.com/blog.php?id=22 One of the most frequently asked questions from troubled taxpayers is, what qualify as reasonable causes for IRS Penalty Abatement. In this article, we are going to dive into the detail of the reason causes of IRS Penalty abatement. Sun, 04 Aug 2019 09:00:00 -0500 https://www.hrltax.com/blog.php?id=22 If you received an assessment from a recent IRS audit, do you have to report this information to the California franchise tax board? https://www.hrltax.com/blog.php?id=21 This article will answer one of the most frequently asked questions after taxpayer receives an assessment from an IRS audit. Wed, 03 Jul 2019 09:00:00 -0500 https://www.hrltax.com/blog.php?id=21 Right to representation in IRS audit, what does it mean? https://www.hrltax.com/blog.php?id=20 In the previous article published on 06/26/2019, I detailed some of the important things you should know on choosing a qualified tax representative. I would highly recommend you go back and read the previous article if you think hiring a representative for your audit is the next thing for you. This article, we will be focusing on understanding your right to representation. Mon, 01 Jul 2019 09:00:00 -0500 https://www.hrltax.com/blog.php?id=20 Important things every taxpayer should know on choosing a qualified tax representative when dealing with the IRS https://www.hrltax.com/blog.php?id=19 choosing a qualified tax representative is an extremely important in resolving your tax issues successfully. An inexperienced tax representative could easily cause inaccurate assessments, unfair interest charges, and both civil and criminal penalties. Wed, 26 Jun 2019 09:00:00 -0500 https://www.hrltax.com/blog.php?id=19 How to Appeal an IRS audit assessment? https://www.hrltax.com/blog.php?id=18 When dealing with an IRS audit, it is very important for the taxpayer to understand their appeal rights to ensure a fair assessment could be reached. Wed, 19 Jun 2019 09:00:00 -0500 https://www.hrltax.com/blog.php?id=18 Will the IRS Take your Home when you owe back taxes? https://www.hrltax.com/blog.php?id=17 This article will answer One of the most frequently asked questions from Taxpayers who owe back taxes to the IRS is “Will the IRS take my personal residence as the payment of my tax debt?” Fri, 14 Jun 2019 09:00:00 -0500 https://www.hrltax.com/blog.php?id=17 IRS procedure and Taxpayer\'s solution to Non-Filed Tax Returns https://www.hrltax.com/blog.php?id=16 This section discusses the procedures involved in handling nonfiled tax returns. Sat, 12 Jan 2019 09:00:00 -0600 https://www.hrltax.com/blog.php?id=16 2018 Tax Law Update on S-Corporation Business Credit and Reasonable Compensation https://www.hrltax.com/blog.php?id=15 This article helps to explain the 2018 tax law updated on S-corporation business credit and reasonable compensation Wed, 02 Jan 2019 09:00:00 -0600 https://www.hrltax.com/blog.php?id=15 Tax Audit/Examination 1.1- IRS Individual Income Tax Examination [Form 1040] https://www.hrltax.com/blog.php?id=14 IRS Tax Audit/Examination, what Taxpayers should know. Mon, 08 Oct 2018 09:00:00 -0500 https://www.hrltax.com/blog.php?id=14 Tax Audit/Examination [Series 1] https://www.hrltax.com/blog.php?id=12 What you need to know and what you need to do when you encounter a tax audit by tax agencies including the IRS, CDTFA formerly known as BOE, and EDD? Sat, 14 Jul 2018 04:00:00 -0500 https://www.hrltax.com/blog.php?id=12 2018 Tax Updates [IMPORTANT INFORMATION] https://www.hrltax.com/blog.php?id=11 As the New Year rolls around, it's always a sure bet that there will be changes to current tax law and 2018 is no different now that many of the tax provisions pursuant to the Tax Cuts and Jobs Act of 2017 (TCJA) are in full effect. From health savings accounts to tax rate schedules and standard deductions, here's a checklist of tax changes to help you plan the year ahead. Mon, 08 Jan 2018 03:00:00 -0600 https://www.hrltax.com/blog.php?id=11 2018 Tax Season due dates and 2018 IRS updated information https://www.hrltax.com/blog.php?id=10 2018 Tax Filing Season Begins on Monday, January 29, 2018. Individual Tax Returns Due date is on April 17. Several IRS tools are Available to help Taxpayers during 2018 tax filing season. Mon, 08 Jan 2018 03:00:00 -0600 https://www.hrltax.com/blog.php?id=10 Authorities of an Internal Revenue Service (IRS) Revenue Officer https://www.hrltax.com/blog.php?id=9 A summary of the authorities of an IRS revenue officer. Wed, 31 Aug 2016 04:00:00 -0500 https://www.hrltax.com/blog.php?id=9 methods by which the IRS selects tax returns for examination (How does IRS select Returns for examination) https://www.hrltax.com/blog.php?id=8 By understanding the process of how IRS selects tax returns for audit or examination, it could help taxpayers and tax practitioners to prepare tax returns using favorable presentation techniques and to understand the likely issues if an examination ensues. Tue, 16 Feb 2016 03:00:00 -0600 https://www.hrltax.com/blog.php?id=8 2016 IRS IRA Contribution Limits https://www.hrltax.com/blog.php?id=7 IRS Individual Retirement Account Deduction Limit (Retirement Topics - IRA Contribution Limits) Mon, 11 Jan 2016 03:00:00 -0600 https://www.hrltax.com/blog.php?id=7 How to approach IRS Appeals for your tax assessment? Ways to Resolve IRS tax debt collection. https://www.hrltax.com/blog.php?id=6 After experiencing years of devastating economic conditions, many individuals are finding that they are unable to keep up with their income tax obligations. So, how does a person recover from the economic crisis when the IRS is beating on the door with notices on a daily basis? Tue, 15 Dec 2015 03:00:00 -0600 https://www.hrltax.com/blog.php?id=6 IRS Automated Collection System (ACS) vs. Revenue Officer: What is the Difference? https://www.hrltax.com/blog.php?id=2 What is the difference between IRS automated collection system and IRS revenue officer? My blog contains all the necessary information which trouble taxpayers should know before making any contact with IRS collections. Sat, 19 Sep 2015 04:00:00 -0500 https://www.hrltax.com/blog.php?id=2