As an S-corp owner who paid $12K in W2 wages for 2013, is there a way to make a contribution to a traditional IRA now without incurring additional Social Security and Medicare taxes?

October 7th, 2023

Can the IRS collect a penalty for late filing of Form 5500 from an S Corp that has closed and has no remaining assets? The S Corp failed to file a timely 5500EZ in the year the Single K plan was terminated.

May 26th, 2023

I received a CP523 notice stating I had until March 6 to contact them and that they may levy my state income tax refund on May 4. The letter was confusing and mentioned paying past due amounts or facing termination of my installment agreement (IA). What does this mean, and what actions should I take?

January 30th, 2023

My mom closed out her traditional IRA in March 2013 and gave the $75,000 to me. She is 86 and still employed. Her tax guy says she owes $30,000 to the federal and state governments. Can we reverse the damage she did?

August 2nd, 2023

How can an individual who sold a real estate investment property pay the least amount of capital gains tax, especially if they have a business managing the rental property and want to accrue the sale to the business instead of themselves?

January 1st, 2023