Halley&Murray CPAs

Basically, an offer in compromise is a formal way to negotiate your tax debts with the Internal Revenue Service. Through an offer in compromise, tax payers agree to pay the IRS only the reasonable collection potential instead of the full amount of taxes owed.

Are you starting up a new business? If so, you’ll have very little time to focus on the financial side. Experts say you’ll probably be busier than you can imagine, and having an accountant in charge of the business software and staying on top of the business books will allow you to focus on your company’s main operations.

Where did the world's first accountants originate? a) Greece, b) Rome, c) Mesopotamia, d) India. Answer: C. Mesopotamia! These bean-counting pioneers worked for religious authorities, tracking taxes paid in sheep and other agricultural products.

Did you know that enrolled agents (EAs) are actually federally licensed? This can be very convenient in certain business situations, as your EA can assist you across state lines and even concerning foreign issues.

Starting a new business can be an exciting and hectic time in anyone’s life. Remember to schedule an appointment with a tax accountant early on so that you’ll know exactly which business expenses you’ll be able to write off on your taxes each year.

If you need help with either filing your taxes or dealing with an audit, an EA is going to be your best bet. An EA is certified and licensed to prepare taxes by the IRS and can represent you in any form of litigation with the IRS, including audits and appeals.

One of the biggest benefits of using a tax accountant is the amount of time you end up saving. All you need to do is to collect and compile all of the necessary documents, and your tax accountant will take care of the rest for you, including the filing.

We understand that businesses often turn to experts that specialize in areas they do not. When it’s time to start thinking about your corporate tax planning needs, we’re ready to provide our expertise.

The services provided by Enrolled agents for tax calculations are often cost effective. One can surely save a good amount of money if proper tax calculations are done and no issues are raised by IRS.

According to the IRS, not filing a tax return is the biggest mistake made yearly by taxpayers. An accountant can explain the benefit of filing even if you have no money to pay the government. There is a form to request an installment payment plan and another form to ask for a filing extension.

Why work with a small business accountant? More than half of all small business owners spend more than 40 hours a year on tax preparation, and close to 40% devote more than 80 hours a year to taxes.

Did you know that the majority of taxpayers hire professionals to prepare their returns? Even with modern software, it can still be extremely difficult to figure out what information is being requested and which tax laws apply to your particular situation. Hiring a tax pro is the best way to get your return filed quickly and accurately.