Tax Remedy Hub

I started this Journey in August by I'm going full speed ahead now 💪🏾
Thanks

I had the pleasure of presenting a seminar on Succession Planning and Business Continuity for a bunch of Travel Advisors last night at .

It was a nice, relaxed intimate setting with great food and drinks.

I enjoy speaking on this topic! We all need to get our affairs in order 💪🏾

American Society of Travel Advisors thanks for having me ❤️

Afterwards, we got a chance to take a peek at some spacious suites 🛏

Why Not Filing Your Business Tax Return Can Hurt You

Neglecting to file your business tax return might seem like a harmless decision, but it can lead to serious consequences. Swipe to see key reasons to stay compliant ➡️

Stay ahead of the game by filing your business tax returns on time! If you need assistance, I’m here to help you navigate the complexities of your tax situation and ensure you stay compliant. 💼

Seeing this came right on time! A nice reminder to never give up. Keep pushing folks!

🚨5 Ways You Could Trigger an IRS Audit 🚨

1) Whistleblower Complaint:
If someone reports suspicious activity, the IRS may launch an investigation based on insider knowledge.

2) Mismatch in Income Reporting:
The IRS automatically cross-checks your reported income against W-2s, 1099s, etc. If there’s a discrepancy, it raises a red flag.

3) Random Selection:
Sometimes, you’re just unfortunate. The IRS randomly selects a small percentage of taxpayers for an audit each year.

4) Your Preparer Was Audited:
If your tax preparer is flagged for suspicious returns, the IRS might audit their clients too.

5) Claiming Excessive Deductions:
Over-the-top or unusual deductions compared to your income can raise eyebrows and lead to an audit.

Want to stay on the IRS’s good side? Stay compliant and double-check your Returns✅️

If you're receiving tax letters and have tax debt, contact for help!!

"Be fearful when others are greedy and be greedy when others are fearful."

-Warren Buffet

The IRS provides some great points about filing your tax return. Staying tax compliant is the key!

IR-2024-28: Things to remember when filing 2023 tax returns IR-2024-28: Things to remember when filing 2023 tax returns Internal Revenue Service (IRS) sent this bulletin at 01/30/2024 03:09 PM EST News Essentials The Newsroom Topics IRS Resources Issue Number: IR-2024-28 Inside This Issue Things to remember when filing 2023 tax returns WASHINGTON —The Inte...

It's January 1st!
The perfect moment to look over your beneficiary designations for your:
•Insurance Policy
•401K plan
•IRA account
•Pension plan
•Will
•Bank accounts - Designating someone while alive will allow a transfer on death (TOD) of your bank account to your beneficiary, avoiding the probate process

P.S. This is a pic of my cute niece! I would hate for her to miss out on an inherance because a loved one forgot to assign her as a beneficiary due to negligence.

🗣Don't forget to log your car mileage tonight if you use your vehicle for business purposes.

It's important to have accurate records just in case of an IRS audit.

#2024

Target companies: Smaller companies that are lightly regulated with no close monitoring and not otherwise reporting to a regulator.

Nonprofits and corporations with more than 20 employees and $5 million dollars are exempt from filing. So a company like Walmart is excluded.

When navigating the Corporate Transparency Act - beneficial ownership reporting mandate, it's important to know what is meant by "Beneficial Owner".

Beneficial Owner(s) is one that owns or controls at least 25% of ownership interest of a company (officers, board members, possibly non-owner managers, capital and profit interest, etc.) Those that excercise substantial control over the company. A report is required for every beneficial owner.

It's going to be a great idea to dissolve those inactive businesses that haven't had any activity before 2023 is over to avoid registering them.

For existing businesses, you will have all of 2024 to register them with FinCEN.

For newly formed businesses, you have 90 days to register them with FinCEN in 2024 and 30 days in 2025.

Compliance is key! Avoid these hefty fines and/or jail time.

DID YOU KNOW.......

Child support isn't the only reason you can have your passport revoked.

Your passport can be revoked due to unsettled tax debt. The worst time to find out is when you've just been denied boarding a plane to a well-planned vacation with friends and family.

If you currently owe $59,000 (increased from $50,000) or more in tax debt, you are in jeopardy.

Now would be a good time to reach out to . Not only can you get assistance with becoming tax compliant, we can also help with reinstating your passport.

Act Now!

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