Deciding where to buy, how to go about it, and what kind of dental practice to purchase is a very important step in the career of a dentist. There are many essential decisions to make and key factors to examine as you search for the perfect dental practice that meets all of your needs. Take…
Category: Tax & Accounting
Supporting Documents & Form 656
Preparing Form 656 and Supporting Documentation in Attempting an Offer for Compromise of IRS Back Tax Debt An Offer for Compromise (OIC) is a tax settlement offer from the Internal revenue service to taxpayers, both individuals and businesses, who are unable to manage their tax debt. There are certain strict criteria that determine eligibility to…
Form 433-b
Form 433-B Form 433-B from booklet 656 is necessary for those business owners that have businesses that are any other entity than sole proprietorships. This form is used to calculate the minimum offer you can make the IRS when seeking an offer in compromise, that is unless you’re able to provide evidence that would lead…
Tax Planning for Travel Expenses
Business Travel Expenses Comparable to other costs of doing business, you might receive tax deductions for some travel expenses incurred so that you might provided services to clients. However, it is wise to plan business travel for you to maximize your deduction. As a self-employed business owner, you are permitted to only deduct for your…
Form 433a
Preparing Form 433-A The personal financial statement, form 433-A must be provided together with your initial OIC application. The 433-A form is what the Internal Revenue Service will use to draw its analysis of your income, expenses, and assests. The IRS employs the data within to be able to make decisions on your eligibility to…
Offer in Compromise Guide
We’re please to inform you that we’ve started work at an offer in compromise (or OIC) tutorial. And while it’s only at its very beginning, we are working at finishing it with strong drive. So please have a look at the Huddleston Tax Library and revisit frequently, as we plan to update this OIC manual…
A Tax Guide for the Pet Owner
In the month of July of 2009, Representative Thaddeus McCotter unveiled the Humanity and Pets Partnered Through the Years (or HAPPY Act) bill. The HAPPY Act pushed for allowing a tax deduction up to 3,500 in each year for pet-related costs. The current status of this bill at the date of this article: “Referred to…