Guiding You Through The Legal Process
In 2018, Georgia employees and others in America will be able to contribute up to $18,500 into their 401(k) accounts. This is an increase of $500 from 2017 limits. Although an extra $500 per year may not seem like much, it could result in an extra $70,000 in a...
Georgia residents and other taxpayers didn't have to disclose whether they had health coverage when filing their returns in 2017. However, the IRS says that it will not process electronically filed returns that don't address health care status in 2018. If a filer...
Georgians who have trouble paying their taxes might want to take heed of actor Forest Whitaker's case. The actor sued the IRS because it refused to grant him an installment plan and instead demanded that he pay all of the taxes that he owed in a lump sum payment....
Some workers receive severance pay from their employer. It may be as the result of being terminated, being laid off or leaving a position. Regardless of why a person received such pay, the IRS views it as wage income subject to tax. Therefore, that payment may be...
Georgia residents might like to know about legitimate ways to minimize or eliminate gift and estate taxes. Those who own a successful business may wish to freeze the value of a company to avoid taxes due to future appreciation of the company. This strategy to reduce...
If you are thinking of starting a new business, what form will it take? There are several choices ranging from a sole proprietorship to an S corporation, and much will depend on the kind of product or service you plan to offer. When considering the kind of entity that...
According to a national advocate for taxpayers, people in Georgia and across the U.S. should not rely on much of the information provided on the Internal Revenue Service website. Specifically, the Frequently Asked Questions page and other guidance on the site listed...
Georgia residents who are in business partnerships should be aware of regulations being proposed by the Internal Revenue Service regarding partnership audits. The agency is having a hearing that will provide taxpayers and their financial advisers the opportunity to...
When individuals in Georgia buy and sell real estate or business assets, capital gains taxes could be a costly concern. Solutions could emerge with planning and patience because an Internal Revenue Code Section 1031 exchange or irrevocable trust provides the legal...
The Internal Revenue Service has announced tax relief for people and businesses affected by Hurricane Harvey. As another hurricane might be hitting Georgia, taxpayers in that state might soon be seeing a similar announcement in the future. The IRS has said it will...
