Joseph Orabona's (vectortax) Blog

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Services for Real Estate Pros - Vector Tax & Accounting LLC
RECENT BLOG POSTS
  As we wrap up the year the last thing most people are thinking about is their taxes. But planning ahead can have a serious impact on your tax bill next year, especially if you know you’ll owe taxes. In this article, we’ll talk about some steps you must take if you know you’ll be owing taxes to ...
12/16/2020
 If you owe back taxes you might think you need a tax attorney, but that’s not necessarily always the case. Just like hiring a traditional accountant to try to resolve your tax debt might not be the best choice, hiring a tax attorney, who doesn’t specialize in tax resolution might be the same thi...
12/02/2020
 For early adopters of Bitcoin, Ethereum and other popular cryptocurrencies, the profit potential has been simply stunning. While there have been some heart stopping moments and frightening ups and downs, the clear long-term trajectory has been upward. If you are one of those early adopters who p...
11/23/2020
 When you owe creditors money that you can't afford to repay, sometimes you may be able to get the debt forgiven or otherwise canceled. When this happens, you no longer owe your creditors the money that you used to owe them.  The IRS, however, usually treats such canceled debt as income that you'...
11/19/2020
 Working from home can be a dream come true, especially if you also work for yourself. Opportunities for freelancers, gig workers and other self-employed men and women have exploded in recent years, giving people the freedom they crave without sacrificing the income they need. This is far more ev...
11/16/2020
If you don't have money to pay what you owe the IRS, you have a few options to work with. Whatever you do, don’t ignore the letters from the IRS and don’t let your back tax problem go unattended. The IRS has a great deal of power when it comes to recovering money they think is theirs.  When you o...
11/12/2020
 Filing for bankruptcy is a difficult and draining process. People often feel ashamed, scared, or confused. If you find yourself with no other options, bankruptcy can be a good way to clear out old debts, change financial patterns, and most importantly get a fresh start. Here is everything you ne...
11/09/2020
 Until recently, cryptocurrency investors have mostly flown under the radar as far as taxes are concerned. Now those days are coming to an end, and many holders of virtual currency are scrambling to understand what they owe and how their investments may impact their finances.  The IRS has already...
11/05/2020
 COVID-19 has caused many tax problems, but some taxpayers received a reprieve from the IRS when they released their “People’s First Initiative” back in March. Basically, the IRS realized businesses were shutting down and millions of people were losing their jobs. If people are not working, they ...
11/02/2020
 Falling behind on your debts is never a fun place to be. It’s less fun when a levy is placed on your assets. In this article, we look at what an IRS levy is, why it happens, and what you can do about it. Note: If you have any tax trouble or owe more than $10k to the IRS or state but can’t pay in...
10/30/2020
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