PODCAST

Tax Resolutions Podcast with Tom Scott

If you have tax problems, or if you"d like to know more, these are just a few things I may be able to resolve for you: How to handle a notice from the IRS, What to do if you haven’t filed your taxes yet, and How to handle debt collection programs. Join me for two programs a month as I tackle these issues and more!

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The No. 1 Mistake People Make When Dealing With the IRS

Tax Resolutions Podcast with Tom Scott ·

2018/06/04

If you get a tax notice from the IRS, don’t put your head in the sand. Instead, call your tax advisor or a tax resolution specialist.Click here for a FREE tax relief consultation Check out our FREE tax resource library Dealing with the IRS is usually a scary subject for most people. If they receive a piece of mail from the IRS, they might look at it a while before opening the envelope...if they open the envelope at all. They don’t want to know what’s inside because it’s almost always

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The Truth About Being a 1099 Employee

Tax Resolutions Podcast with Tom Scott ·

2018/05/22

What tax-related issues can arise for self-employed people and 1099 employees? Let’s discuss this critical subject today. Click here for a FREE tax relief consultation Check out our FREE tax resource library Today we’re going to talk about the 1099 self-employed and their growing tax problems. This is a subject I deal with all the time when speaking with clients. Many of the people I have conversations with have no idea how to get into business, and make a lot

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Don’t Ignore Inheritance Assets When Filing Your Taxes

Tax Resolutions Podcast with Tom Scott ·

2018/04/06

Taxpayers often make the mistake of ignoring inheritance assets on their tax return. I’ll explain how to avoid and fix this mistake today. Click here for a FREE tax relief consultation Check out our FREE tax resource library A frequent error taxpayers make is ignoring inheritance assets. When a person inherits stocks or other assets, they often believe that they are not taxed. This is partially correct; the assets are not taxed when received. But when the

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What Is Wage Garnishment and How Could It Impact You?

Tax Resolutions Podcast with Tom Scott ·

2018/02/28

What are tax liens and levies? I’m going into detail about both today. Click here for a FREE tax relief consultation Check out our FREE tax resource library If you don’t pay your debts, the IRS can use wage garnishment to take most of your paycheck away. Ignoring your taxes can lead to the IRS collecting them instead. A wage garnishment or levy will only occur after you have received many notices and had many opportunities to handle your taxes on your own

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What Are Tax Liens and Levies?

Tax Resolutions Podcast with Tom Scott ·

2018/02/08

What are tax liens and levies? I’m going into detail about both today. Click here for a FREE tax relief consultation Check out our FREE tax resource library Welcome back to another edition of our series exploring various tax problems you can run into. Today, we’re talking about tax liens and levies. When the IRS issues a lien, it’s a lien on all of your property. It doesn’t matter if it was recorded in your county or not. This results in your inability to sell

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Solutions to Your Tax Debt Problems

Tax Resolutions Podcast with Tom Scott ·

2018/01/19

Do you have tax debt? If so, here are some solutions. Click here for a FREE tax relief consultation Check out our FREE tax resource library One of the most common tax problems we see people running into is simply not being able to pay their tax debt. It can be hard to stay calm when you’re worried about how you’ll live when the IRS is after you. Problems like this can deteriorate marriages and decimate bank accounts and paychecks. It’s a bad situation to be in

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You Should Know About These Serious Tax Problems

Tax Resolutions Podcast with Tom Scott ·

2017/12/28

You don’t want to run into trouble with the IRS. Here’s what will happen if you do. Click here for a FREE tax relief consultation Check out our FREE tax resource library There are a number of serious tax problems you can fall victim to out there, and each one has different solutions.The IRS takes these seriously and if you simply ignore them, the consequences get increasingly harsh over time. These consequences include: The IRS can take up to 80% of your paychecks until the debt

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Should You Rethink Your Position on the Cloud?

Tax Resolutions Podcast with Tom Scott ·

2017/04/11

You are already on the cloud (whether you know it or not), so how can you use it to improve your business? Click here for a FREE tax relief consultation Check out our FREE tax resource library I’ve run into many business owners who say that they don’t want to put their accounting on the cloud. They don’t trust the cloud. They are afraid of being hacked. Some people even say, “I don’t want any part of the cloud!” Well, I have some news for you: you are already on the

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Let Us Help You With the Parts of Your Business You...

Tax Resolutions Podcast with Tom Scott ·

2017/03/20

Many entrepreneurs find something they love and turn it into a business, but eventually wind up running a business instead of focusing on the thing they loved in the first place. Here's how we can help get you back to doing what you love. We work closely with many small businesses and find that people have become entrepreneurs by circumstance. After all, not many children say that they want to be an entrepreneur when they grow up. So how does one become an entrepreneur? Most of

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Where Is All Your Cash?

Tax Resolutions Podcast with Tom Scott ·

2017/03/07

If you only study your profit and loss statement, you aren't getting the full picture of your business finances. “My financial statements show I’m making money, but I don’t have any cash.” We hear this statement all the time from entrepreneurs like yourself. Most assume they should just drastically cut expenses and they’ll be OK. Here’s what you should do instead. If all you are looking at is the income and expense portions of your financial statement, you are only seeing part

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How Do You Know If Your Business Is Healthy?

Tax Resolutions Podcast with Tom Scott ·

2017/02/15

As you will see today, measuring the health of your business is not much different than measuring your own personal health. Is your business healthy? How can you determine if it is or not? The process mimics how you determine your own personal health. When you see your own personal physician for your annual checkup, they start with some basic information. In the medical field, these are called “vital signs.” Your blood pressure, body temperature, height, weight, etc., are

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What Are the Benefits of Cloud Accounting?

Tax Resolutions Podcast with Tom Scott ·

2017/01/23

Have you heard about cloud accounting? It utilizes online servers for your accounting needs so you don't have to worry about expensive equipment or constant software upgrades. I want to take a moment today to tell you about cloud accounting. We CPAs are involved in varied areas of accounting and tax. One of my specialties happens to be income tax and tax problems. I also specialize in accounting and consulting for small business, which some may refer to as bookkeeping and

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What Can the 21st Century Office Do for You?

Tax Resolutions Podcast with Tom Scott ·

2017/01/04

As technology advances at a rapid rate, your business needs to be able to move more data than paper. 21st Century Office can help you accomplish this. Our Sales Manager, Stan Newton, covers this in our latest video. Who remembers Y2K? You know, the predicted ruination of the power grid? A lot of people were concerned about this, but when the clock passed midnight on Dec. 31st, 1999, nothing much happened. A new millennium began, and technology advanced into the 21st century

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How Can You Appeal IRS Decisions?

Tax Resolutions Podcast with Tom Scott ·

2016/12/12

Today we’re talking about the IRS Office of Appeals. We’ve got some information you need to know. Many tax disputes are not resolved in favor of the taxpayer. Many times, the IRS is wrong in their conclusions. There are remedies if you feel you have a strong case and can support that case with the IRS. The IRS Office of Appeals was formed in 1927. Their mission is, “To resolve tax controversies, without litigation, on a basis which is fair and impartial to both the government and

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The Taxpayer Bill of Rights (Part 2)

Tax Resolutions Podcast with Tom Scott ·

2016/12/05

Today we're back to talk about the last five rights you have according to the Taxpayer Bill of Rights. It's important to be aware of these in case you ever find yourself in a tax dispute with the IRS. Today, we’re back to talk about the second part of our series on the Taxpayer Bill of Rights. You can see the first portion here. Last time I talked about the first five rights under the Taxpayer Bill of Rights. Today, let's talk about the other five. 6. You have the right to

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What Is the Taxpayer Bill of Rights? (Part 1)

Tax Resolutions Podcast with Tom Scott ·

2016/11/16

You have rights as a taxpayer. We will be going over the first five items on the Taxpayer Bill of Rights today. As U.S. citizens, we all have rights. We have rights as taxpayers, too, so the IRS has come up with the Taxpayer Bill of Rights. This is a list of 10 rights you have as a taxpayer that you should know about. Today, we’re discussing the first five: 1. You have the right to be informed. You have the right to know what you need to do to comply with certain tax laws. You

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Fake Tax Notices and Other Scams: Part II

Tax Resolutions Podcast with Tom Scott ·

2016/10/24

There’s an ongoing scam out there involving fake call centers claiming to be the US tax authorities and demanding bogus unpaid taxes. How can you avoid falling victim to this scam? Welcome to the second part of my two-part series dealing with fake tax notices and other scams you need to watch out for. First, I’m happy to report some good news about fake IRS collection scams. Last week, authorities in India arrested about 70 people and are questioning hundreds more after uncovering

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Don’t Be Fooled by Fake Tax Notices

Tax Resolutions Podcast with Tom Scott ·

2016/10/07

Unfortunately, tax scammers and thieves are still finding new ways to try and obtain our personal information. Look out for this recent IRS scam. Scammers and thieves are descending on us now more frequently than ever. Last year we encountered a con in which scammers would call ordinary citizens and tell them that they were being sued by the IRS and that the only way to prevent it was to send them money. I personally received one of these calls and several of my clients contacted me

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How to Handle an Audit Notice

Tax Resolutions Podcast with Tom Scott ·

2016/09/02

What happens when you receive an Audit Notice from the IRS? More than likely, your first instinct will be to panic. However, getting audited doesn’t always mean that an error was made on your tax returns. Returns are chosen for a few different reasons: Most audits simply come from Document Matching. When you receive a W-2 form or a 1099, that information is also sent into your file at the IRS, ready to be matched. If you do not report that income on your return, the IRS computer will

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Everything You Need to Know About Federal Tax Liens

Tax Resolutions Podcast with Tom Scott ·

2016/08/11

A federal tax lien is the government’s legal claim against your property when you neglect or fail to pay a tax debt. The lien protects the government’s interest in all your property, including real estate, personal property, and financial assets. A federal tax lien exists after the IRS: Puts your balance due on their books and assesses your liability Sends you a bill that explains how much you owe called a “Notice and Demand for Payment” If you neglect or refuse to fully pay the

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Tax Resolutions Podcast with Tom Scott

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