VATaxRelief

Can the IRS really levy your W2 paycheck or 1099 Real Estate Commission Check? They can - and will - if you've  been getting IRS notices asking you pay taxes owed, and you fail to comply.  I've also seen agents and brokers who haven't even filed tax returns get levied by the IRS or their state ta...

You didn’t have enough money to pay your taxes in full when you filed last year. So you were relieved to learn you could set up a monthly installment agreementYou requested a monthly pay plan for the remaining balance, and the IRS accepted it. So you began making payments every month and moved on...

Over the years I've prepared nearly a thousand Realtor tax returns, and have helped many others fix IRS tax problems. I've learned there are five goofy mistakes agents that can get them in trouble with the IRS and cause them to pay thousands in taxes they don't have to be paying.  Spit-balling on...

I've prepared hundreds of Realtor tax returns, and have provided IRS Representation to help many agents and brokers sleep better at night. Most could avoid overpaying on their taxes if they simply structure their business correctly.  I'd estimate that 50 % of agents are operate as sole proprietor...

What if you dont file taxes this year? To many, the answer seems obvious, but I work with many Realtors who are seriously asking themselves this very question. Especially this year. Why? Because this spring agents are running crazy hard trying to find inventory to sell! Time is precious. They don...

I specialize in helping Real Estate Brokers and Agents with their taxes, and I've prepared nearly 1,000 Realtor tax returns over the years.The one area where agents consistently fail to maximize their business deductions is car and truck expense. After buying a home, buying a car is your second b...

Did you know ...if you have employees working in your business, and you haven't paid payroll taxes, you can become personally responsible for those taxes? Even if the business itself ceases to exist, you can be assessed for the tax debt.How is this possible?Everyone knows that real estate sales i...

I've worked with many good Realtors over the years who haven't filed tax returns.An agent's  "busy season" (March - April - May) matches up perfectly with the IRS filing deadline. Which means Realtors can get so busy serving clients that they lose track of the tax timeline.  I'm excited about the...

I've worked with many good Realtors over the years who find themselves in trouble with the IRS. They receive a notice of Federal Tax Lien or notice of Intent to Levy, and don't know what to do about it.Fortunately, taxpayers have powerful appeal rights.The IRS Collection Division cannot simply le...

I prepare hundreds of Realtor tax returns every tax season. Historically, over 70% of them take the Standard IRS Mileage Rate because it’s the quick and easy way to claim auto expense.But is it the best way?Standard Mileage Rate MethodLet’s say you claim 10,000 business miles this year. (You prob...