by Jim Magary | Mar 13, 2015 | Tax Help
We are AFFORDABLE former IRS Agents & Managers who can remove an IRS Tax Levy & Paycheck Wage Garnishment. We are Fast, Experienced & Affordable.
We were former IRS agents and tax managers who know the system.
Over 60 years of working for the IRS in the local, district and regional tax offices of the IRS. We taught Tax Law as Former IRS agents.
While employed at the Internal Revenue Service we taught tax law and a new IRS agents.
As a result over 60 years of direct working knowledge we know and understand the complete inner workings of the Internal Revenue Service. We know their protocols, management styles and the best way to solve an IRS tax problem.
If you have a current IRS problem it only makes good common sense to hire former IRS agents and managers who know the system inside and out.
Our streamline processes are very fast and effective and can save you money.
As a general rule within 24 hours of receiving your current documented financial statement we can get an IRS tax levy, bank levy, paycheck levy, wage garnishment levy released.
The IRS System
IRS has a very specific process to get tax levies, bank levies and wage garnishment released. They must go by the book and we know the book.
IRS only levies bank accounts and paychecks when taxpayers have ignored or failed to respond to the last IRS notice sent. As a general rule the IRS sends out 4 notices and the final notice, the 1058 must be responded to. Many times IRS will send out certified mail. IRS secures your levy sourced from your previous file tax returns. They pick up information from third parties who must report to them such as your banks and employers.
If not IRS will follow-up with enforcement action, including the filing of a federal tax lien which will ruin and destroy your credit.
The IRS’s computer system manually and systemically sends out both bank and wage garnishment levies from information they have on their computer systems.
If you are in receipt of an IRS tax levy or wage garnishment we will need to contact IRS give them a current financial statement and have an exit strategy on how you plan to take your case off the enforcement computer.
As a general rule, your case can be removed by declaring and proving that you are the current financial hardship, wish to make a monthly installment agreement or wish to file an offer in compromise if you are a true tax that settlement candidate.
Call us today for an initial tax consultation and we will get your tax levy, bank levy or wage garnishment levy removed and your case closed all of the time.
We are the fast, friendly and affordable professional tax firm, since 1982, A+ rated by the BBB.
It is also important to know IRS may not release your levy if you have on file tax returns. We are a full-service firm that can prepare your back tax returns as well.
Remove IRS Tax Levy, Bank, Paycheck, Wage Garnishment, Settle Tax Debt = Affordable = Former IRS + Fresno, Stockton, Santa Rosa, Concord, Berkeley, Elk Grove
by Jim Magary | Mar 13, 2015 | Tax Help
What you need to Know about the Office in the Home Deduction
As a former IRS agent I can tell you IRS auditors love to look at this particular tax deduction because of the abuse that has taken place over the years. Finally IRS’s simplified the process. Read below and find out the new criteria involved to take the deduction.
If you use part of your home for business, you may be able to deduct expenses for the business use of your home.
The home office deduction is available for homeowners and renters, and applies to all types of homes.
Simplified Option
For taxable years starting on, or after, January 1, 2013 (filed beginning in 2014), you now have a simpler option for computing the business use of your home (IRS Revenue Procedure 2013-13, January 15, 2013).
The standard method has some calculation, allocation, and substantiation requirements that are complex and burdensome for small business owners.
This new simplified option can significantly reduce record keeping burden by allowing a qualified taxpayer to multiply a prescribed rate by the allowable square footage of the office in lieu of determining actual expenses.
Regular Method
Taxpayers using the regular method (required for tax years 2012 and prior), instead of the optional method, must determine the actual expenses of their home office.
These expenses may include mortgage interest, insurance, utilities, repairs, and depreciation. Generally, when using the regular method, deductions for a home office are based on the percentage of your home devoted to business use.
So, if you use a whole room or part of a room for conducting your business, you need to figure out the percentage of your home devoted to your business activities.
Requirements to Claim the Deduction
Regardless of the method chosen, there are two basic requirements for your home to qualify as a deduction:
1. Regular and Exclusive Use.
You must regularly use part of your home exclusively for conducting business. For example, if you use an extra room to run your business, you can take a home office deduction for that extra room.
2. Principal Place of Your Business.
You must show that you use your home as your principal place of business. If you conduct business at a location outside of your home, but also use your home substantially and regularly to conduct business, you may qualify for a home office deduction.
For example, if you have in-person meetings with patients, clients, or customers in your home in the normal course of your business, even though you also carry on business at another location, you can deduct your expenses for the part of your home used exclusively and regularly for business.
You can deduct expenses for a separate free-standing structure, such as a studio, garage, or barn, if you use it exclusively and regularly for your business.
The structure does not have to be your principal place of business or the only place where you meet patients, clients, or customers.
Generally, deductions for a home office are based on the percentage of your home devoted to business use.
So, if you use a whole room or part of a room for conducting your business, you need to figure out the percentage of your home devoted to your business activities.
Additional tests for employee use. If you are an employee and you use a part of your home for business, you may qualify for a deduction for its business use.
You must meet the tests discussed above plus:
• Your business use must be for the convenience of your employer, and
• You must not rent any part of your home to your employer and use the rented portion to perform services as an employee for that employer.
If the use of the home office is merely appropriate and helpful, you cannot deduct expenses for the business use of your home.
For a full explanation of tax deductions for your home office refer to Publication 587, Business Use of Your Home. In this publication you will find:
• Requirements for qualifying to deduct expenses (including special rules for storing inventory or product samples).
• Types of expenses you can deduct.
• How to figure the deduction (including depreciation of your home).
• Special rules for daycare providers.
• Tax implications of selling a home that was used partly for business.
• Records you should keep
• Where to deduct your expenses (including Form 8829, Expenses for Business Use of Your Home (PDF), required if you are self-employed
by Jim Magary | Mar 12, 2015 | Tax Help
We are an AFFORDBLE full service tax firm that specializes and has an expertise in IRS tax problems help.
We have over 206 years of professional tax experience and over 60 years working directly for the Internal Revenue Service in the local, district, and regional tax offices of the IRS.
We are composed of tax attorneys, CPAs and former IRS agents.
We have been in practice since 1982.
If you are undergoing an IRS tax problem and need tax help call us today and speak to true IRS tax professionals. If you owe back taxes we can take your current financial statement and determine the course of action IRS will take.
We can help you with the possibilities of getting an IRS tax hardship, going on a payment plan or possibly settling your tax debt for pennies on the dollar through the offer in compromise program.
If you have a current tax levy, within 24 hours of receiving your current documented financial statement ,as a general rule we can get your tax levy removed or released.
If you have to file the back tax returns we can have a former IRS agents prepare your returns and assure you’ll pay the lowest amount allowed by law.
Call us today for free initial tax consultation.
We are the true tax professionals. A+ rated since 1982.
IRS Tax Problems Relief Help, Former Agents, Owe Back IRS, State Taxes + Offer in Compromise, Remove Tax Levy & Unfiled Back Returns + Coeur d’Alene, Twin Falls, Lewiston, Lewiston Orchards
by Jim Magary | Mar 12, 2015 | Tax Help
We are a full service tax firm specializing in accounting, taxes and QuickBooks. We have been in practice since 1982 in South Florida and have over 206 years of professional tax experience.
We are staffed with CPAs, accountants, and former IRS agents managers and tax instructors that worked out of the South Florida IRS offices.
We can help you with all facets of your bookkeeping, accounting, taxes and QuickBooks.
The reason QuickBooks® is so popular with small businesses is that it’s an easy-to-use, efficient accounting and tax system, but no system is effective unless it is installed properly and its users are very well trained.We can do just that!
We have all the experience necessary to make sure your system is in good working order.
We also provide financial and tax planning specifically geared toward your business needs.
FST’s goal is to be your business partner and to help you make business decisions that will allow you to enjoy a more successful business!
Starting a New Business
If you are starting a new business we can help you chose the best legal entity for your business.Since 1982 we have working with our clients right here in South Florida.
FST can organize, set up and do all your bookkeeping, accounting and business tax filing.
Our CPA’s and other tax professionals can analyze your financial records so you know how your business is doing.
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We optimize our clients’ business performance by providing them with the necessary tools to assess their financial position at any given time.
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Full service bookkeeping, accounting tax firm serving the needs of small to mid-sized businesses & individuals right here in Fort Lauderdale in South Florida, since 1982.
by Jim Magary | Mar 12, 2015 | Tax Help
FST is an AFFORDABLE professional tax firm that specializes in IRS & Washington State Tax Resolution, A plus Rated BBB, since 1982.
We have been in private practice since 1982 and are true affordable tax experts in resolving individual, business in payroll taxes.
We know and understand the IRS and State tax systems.
Our firm now represents those who have nationwide tax problems.
We have over 60 years of direct work experience at the Internal Revenue Service in the local, district, and regional tax offices of the IRS.
On staff are former agents who used to work for state governments.
Some on our staff have work as IRS managers, instructors, supervisors and wrote part of the internal revenue manual section 5 dealing with the collection division.
Due to our experience at the Internal Revenue Service we know every possible tax solution to get you the very best result.
If you owe any IRS or State back taxes of any kind we can work out different tax solutions depending on your current financial condition.
Your current financial statement as a general rule will determine the outcome of your case. and other factory keep in mind is that most governments have a national standard expense table that they used to determine the end result of your case.
Experienced tax professionals can usually predict the outcome of a given case based on your income and your current monthly expenses.
Keep in mind your financial statement will have to be verified by the Internal Revenue Service before they will render any determination on your case. Therefore it is critical you have a tax professional who knows the system prepare and negotiate your settlement with the Internal Revenue Service.
Included in that financial statement will be the last three months of canceled checks, copy of monthly expenses and a copy of pay stubs. IRS does a full analysis of your financial statement before rendering a determination. You want to make sure you are completely honest giving any government agency a financial statement.
If you owe individual, business or payroll taxes, we will take a current financial statement contact the IRS and work out an affordable individual or business payment plan and/or file and settle the tax if applicable.
We will carefully review your case and give you an expert opinion on whether your case is eligible for the fresh start initiative called the offer in compromise.
Over 41% of all taxpayers and apply for the offer in compromise program get accepted settlements but you must be a true qualified taxpayer for the program.
We will not file for a tax debt settlement if you are not qualified.
Be careful that firms will ask you for a fee and you have no chance of getting accepted. You can use the IRS pre-qualifier tool to find out if you are truly qualified for attacks that settlement.
We can file all back tax returns and get this problem behind you so you can move on with your life.
Many times the Internal Revenue Service will not close your case off the system until all back tax returns are current up to date and they feel you are in compliance with your estimate or current withholding for the year we are in.
As a side note: you want to make sure you file all your back tax returns if not the Internal Revenue Service will file all unfiled back tax returns and that will wind up being a nightmare.
Call us today for a free initial tax consultation speak directly to a true tax expert.
We are the friendly, affordable professional and experienced tax firm. Since 1982, A+ rated by the BBB.
Owe Back IRS Taxes, Individual, Business, Payroll Taxes, File Tax Returns, Settle Tax = Former IRS
by Jim Magary | Mar 12, 2015 | Tax Help
We are composed of AFFORDABLE IRS Tax Lawyers, IRS Tax Attorneys, Certified public accountants, enrolled agents, and former IRS agents. Since 1982, A plus rated BBB.
We are the experienced, affordable and trustworthy professional tax firm.
Our firm has over 206 years of professional tax experience and over 60 years of working directly for the Internal Revenue Service. We also taught tax law is former IRS agents.
We know the IRS system due to our 60 years of direct work experience. As former IRS agents we taught tax law to new IRS agents.
Our former IRS agents worked in the local, district, and regional teaching offices of the IRS.
We are IRS tax experts for all that owe back taxes, need releases and removal IRS tax levies, tax defense and IRS representation for IRS tax audits, IRS tax settlements and for those wishing to make payment agreements with the Internal Revenue Service.
You will find us an affordable choice to resolve your IRS problems matter.
Fast and Affordable IRS Tax Levy Relief, Bank & Wage Garnishment Releases and Removals
IRS generally sends out 1.8 million bank and wage garnishment levies every year so you are not alone.
An IRS tax Levy usually comes in two different forms.
An IRS bank levy or an IRS wage garnishment levy.
Both are very different.
An IRS Bank Levy, 668A, puts a freeze on your money for 21 days where as IRS wage garnishment levy is an immediate seizure of your paycheck.
You can you use your bank account during that 21 day period.
The day the levy was received by the bank are the only funds that are frozen. You can use the account freely except for the frozen funds.
The Internal Revenue Service gives you a 21 day period of time to get your money back and allows the bank to keep the funds until the 21st day.
When the Internal Revenue Service garnishes wages,668W, it takes approximately 85% of the weekly wages. you will get your normal paycheck back as soon as IRS releases the wage levy.
As a general rule a levy can be released within 24 hours of receiving your current financial statement and calling the IRS. When you retain fresh start tax llc you will never speak to IRS we handle all the calling and all the negotiations.
Internal Revenue Service does not want to seize money that belonging to taxpayers it only does so to get the attention of taxpayers to close their case off the IRS enforcement computer. IRS only seizes bank accounts and paychecks because taxpayers fail to respond to the last of four notices sent to the last current address. many levees go out because taxpayers failed to notify IRS the change of address.
IRS usually closes or settle their cases with non-collectible program, the payment program or the offer in compromise.
Each type of closure is completely dependent on your car in verifiable financial statement. The IRS generally works on forms 433F or 433A.
Financial statement you give Internal Revenue Service will depend on where the case is being work within the system
IRS Tax Audits = IRS audits less than 1% of all taxpayers
The Internal Revenue Service audits exactly .88 of all personal tax returns under $200,000.
However we cautioned taxpayers do not play the IRS audit lottery.
Always file or correct tax return.
If you are undergoing an IRS tax audit you can have a former IRS audit manager provide your best possible tax defense and represent your best interest during an IRS tax audit. one of the keys of IRS audit representation is to limit the tax audit.
We can also take the case to IRS appeals are Tax Court is necessary and or appeals.
If you are wishing for an IRS tax settlement it is called an offer in compromise, we will be happy to walk you through the IRS prequalifier tool to see if you’re a suitable candidate before filing any offer in compromise.
We’ll qualify all taxpayers before we file and ask for an IRS tax settlement.OIC.
About 38% of all taxpayers who apply for a tax debt settlement relief can get it through the offer in compromise.
Those wishing to make payments to the Internal Revenue Service to resolve their debt, we will walk you through the financial statement to make an affordable payment that you can live with.
Call us today for a free initial tax consultation and speak to a true IRS tax expert who can resolve your case.
We’re the fast, friendly, affordable and experienced professional tax firm, since 1982, A+ rated by the BBB.
IRS Tax Attorney, IRS Tax Lawyer = Owe Back IRS Taxes, Tax Levy Garnishment, Unfiled Returns, Tax Settlement, IRS Payments + Everett, Kent, Yakima, Renton, Spokane Valley
