Edward M. Gardner PC CPA

Huge federal tax debt IRS notices got you flailing to stay afloat?
Do you think the IRS might have got it wrong in your case?

You can request an appeal. If your petition is considered by the IRS collections office, they'll kick you to the Office of Appeals.

The Office of Appeals operates independently from the IRS division that assesses tax debt and ignites collection.

Their office aims to resolve tax snarls impartially without litigation.

There's no magic wand to abracadabra your tax problems away.

Not the tax debt. Not the audits. Not the IRS notices.

But there is a way to relieve the pressure.
It just takes the decision to face them... and ask for help.

The New Congress and Your Harris County Business

The New Congress and Your Harris County Business With a new Congress in play, what should you be paying attention to in your business? I’ve got 7 takeaways.

Did you know the IRS can go after the individual -- not just the business -- for unpaid payroll taxes?

If they think the individual taxpayer was responsible for the taxes not being paid, they'll seek recompense from *personal* accounts, not the business’s. This is not a position you want to be in as a taxpayer, nor do you want your employees to have to deal with as a business owner.

Deal with the unpaid tax issue head-on.

Bonus on your mind? Make sure you're thinking about the tax implications.

How Bonuses Are Taxed (and Bonus Tax Rates) Understanding how bonuses are taxed can be confusing due to the withholding laws. Here we clear up the confusion so you can make the most of any bonus coming your way.

Some of the most common red flags for tax fraud investigations:
1) Keeping two sets of books
2) Making false entries in books and records
3) Claiming personal expenses as business expenses
4) Claiming false deductions or credits against taxes owed
5) Hiding or transferring assets

Those who reach their financial goals usually carry a willingness to live beneath their means for as long as it takes. While their peers are showing a tendency toward embracing the good life at the first sign of prosperity, the would-be wealthy take a pass on all of that.

A drive to save large amounts of money causes frugal spending habits, which then enable the ability to make purchases without using debt.

It's a domino effect.

There are a few different approaches to getting debt reduced, but some come with some setbacks that you should consider ahead of time.

Here are two:

1) Debt Settlement -- Inviting a third party to negotiate outstanding debt in your name.
Setback: You often end up paying more out of pocket than if you had just taken on the debt yourself.

2) Debt Consolidation -- The consolidation method is used by companies that essentially roll all your debt into one lump sum, then charge you at a lower interest rate.
Setback: It (usually) just means you'll be in debt for a longer period of time.

If you have years of unfiled tax returns weighing on you, don’t get paralyzed by the burden.

First of all, the IRS only requires filing for up to 6 years past.

Second, it really is possible to work out a doable plan for repayment.

Harris County Businesses choosing to live out of a place of gratitude

Harris County Businesses choosing to live out of a place of gratitude No matter what you may be facing this year (personally or in business), no matter if the news portrays the world as spinning out of control, we can choose to live out of a place of gratitude.

This is the time of year when we re-examine what success looks like.

In rethinking and re-examining, you'll soon discover that sometimes the "most successful" people can be the most impoverished ... and those without many zeroes in their accounts can be flat-out rich.

"Success" is a state-of-mind -- and it's tied to gratitude. Gratitude is the enemy of fear. It's like an opposite magnet for it. Walk in gratitude, and fear just melts away.