Recommendations

A.J. Gross was hired as a sales rotation engineer, then hired as a technical sales engineer on an internal account. A.J. was a very quick learner, conscientious, and very committed. He took pride in everything that he did and was always looking for a challenge. He faced all challenges head on and was open to suggestions and constructive input. A very professional person that also worked well on and with other teams. I enjoyed working with A.J. February 9, 2012, Fred.

Do not let your taxes snowball out of control (Part Two)

Having discussed Sally’s tax delinquencies and the corrective action taken by ALG Tax Solutions in Do not let your taxes snowball out of control (Part One), the following narrative is about an independent contractor named George.  Name and location changes to protect client confidentiality are in effect.  This is another real life example demonstrating how back taxes can become as threatening as an out-of-control snow ball rolling down the hill. Continue reading…

Do not let your taxes snowball out of control (Part One)

I have helped a considerable number of clients resolve their back taxes.  One thing that surprises most of my clients is the sheer amount of taxes, interest, and penalties owed.  How do people get into this situation?  Owing taxes can be compared to a snowball that starts to roll from the top of a hill and gets increasingly larger as the snowball progresses down the hill toward the bottom.  Given a long ride, that snowball gets too big to handle.  The following narrative, which includes name and location changes to protect client confidentiality, demonstrates how back taxes can erupt out of control. Continue reading…

Recommendations

I highly recommend A.J. He is extremely trustworthy and can be counted on, not only to accomplish the task, but get it done at the highest level of quality.  He takes tremendous pride in going the extra mile to take care of customers and insure he is fully up on the latest technologies and that he understands his products at an expert level.  Time and time again he has proven he is up to any challenge.  February 14, 2012, John.

 

Are you a real estate professional?

If you own rental property, the rental activity is generally treated by the IRS as a “passive activity.”  This is important to understand because if you operated rental property and sustained a loss, the loss can be claimed against active income, such as wages.  This loss deduction is limited to $25,000 for the claimed tax year.  The $25,000 loss deduction may be further limited by Adjusted Gross Income (AGI).  However, if you are a bona fide real estate professional, the rental activity is treated as an “active activity.”  Therefore, there is no limit on the amount of losses that can be deducted. Continue reading…