Lequita Gray's (altstaxes) Blog

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Education & Training - Alexandria Louis Tax Solutions LLC
RECENT BLOG POSTS
The short answer is it depends.  It depends on what exactly?  I’m glad you asked.  We will look at it in two distinct ways.Alex Tax has a full-time job as a tax professional.  He earns $85,000 a year in this role.  Alex has always enjoyed real estate, particularly bringing neglected properties ba...
03/07/2022
It is no secret that the IRS has millions of unprocessed tax returns.  If you have attempted to call the department over the past few years, you know they are short on employees too.  In addition to the that fiasco, the IRS sent out automated letters to thousands of individuals with tax debt.  So...
02/21/2022
There are so many things hidden in the fine print, but it takes someone willing to point you in the right direction for you to benefit.  As I was refreshing my knowledge on home deductions, I ran across the Mortgage Interest Credit.  In reading the details, I thought, I sure wish someone had shar...
02/07/2022
This week’s title is a bit misleading just like those ads trying to convince you to sign up for a class to show you how to do it.  Someone thought to monetize a way for you to save on taxes by comparing your tax situation to the likes of Jeff Bezos and Elon Musk.  The stink is in the details.  Le...
01/10/2022
I love social media.  There are so many quasi-tax “gurus” out there that spur phone calls to my office.  The latest question spurred by the “gurus” is should my business select S-Corp tax status.  While the S-Corp election has its benefits, whether your business should select this status has a lo...
01/05/2022
One of the joys of being self-employed is becoming responsible for self-employment taxes.  Okay, clearly that was a joke.  No one is thrilled to pay taxes especially when it is an automatic 15.3% your net earnings.  Many clients are shocked the first profitable year in business to have the greate...
12/13/2021
If you are like many Americans, you were surprised to find out you owed taxes.  Considering 51 percent of Americans have less than three months’ worth of savings, owing the IRS can really be a burden.  So, what can you expect when you owe the IRS?  For starters, unlike other bill collectors, the ...
12/06/2021
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Mr. and Mrs. AL Tax married last year.  Mr. AL Tax has a student loan which he has not been making payments.  Mr. AL Tax owes $30,000 in unpaid student loans.  This is the first year for the couple to file taxes and they chose to file married filing jointly.  Their completed tax return resulted i...
11/22/2021
One of the most common questions asked this year from my self-employed clients was “Lequita, how can I reduce my tax bill?”  The answer was the same for most of the clients.  “There are some deductions we are not taking that we should consider for next filing season.  What most of the clients wer...
11/15/2021
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Lequita Gray

I help people with tax debt.
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