How Filing for Bankruptcy can Save Your House
Feb 21, 2011
Help!
My Loan Modification did not go through and Im in Foreclosure, what can I do
next?
Many people are facing an unprecedented wave where
theyve fallen behind on mortgage payments, their loan modific...
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Report of Foreign Bank and Financial Accounts (FBARs)
Feb 21, 2011
Did you
know you have to report foreign bank accounts with an excess of $10,000
USD in them?
That
is exactly what the IRS is requiring you to do.
Starting a few years ago, the IRS began to crack down o...
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What to expect in a Loan Modification
Dec 07, 2010
This guide covers the basic loan modification process and what to expect during the process.
Falling Behind on Payments
The typical loan modification case starts where you are having trouble making y...
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What is Cancellation of Debt Income?
Oct 30, 2010
Normally, when a creditor cancels your debt, as in the foregiveness of a
mortgage if your house is underwater, you must pay tax on the difference
between the loan amount and the fair market value of ...
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Exceptions to Cancellation of Debt Income
Oct 30, 2010
When a bank or other finanical institution sends you a 1099-C, normally you have to report this amount on your tax return as income. However, there are many exceptions to this, outlined below.
Excep...
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An Overview of the IRS Process
Oct 23, 2010
This guide gives you an overview of the different stages of IRS controversy and what you can do in each stage to maximize your likelyhood of success with your case.
The Audit
The Audit is the initial...
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Why Being a Disregarded Entity can simplify your Taxes
Sep 28, 2010
If you are a single member LLC or single member S Corporation, you are what's called a "Disregarded Entity" under the tax law. This basically means that the IRS does not see your S Corporation or LLC a...
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How to Apply for an EIN
Sep 18, 2010
Most businesses require an EIN to do business and identify themselves to the IRS on all tax documents. This guide explains how to apply for one, and details the individual steps in doing so....
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How to Apply for an EIN
Sep 18, 2010
Find Out Whether You Need an EIN or Not Most businesses require an EIN to do business and identify themselves to the IRS on all tax documents. If you have a C Corporation, S Corporation or LLC, you ...
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How to form an S corporation
Sep 09, 2010
This guide walks you through the process of forming an S Corporation, from incorporation to the S election form....
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