by Kevin Thompson | Sep 10, 2014 | Tax Laws
The Earned Income Credit (EIC) was designed to aid needy families but unfortunately is being used by those who are using it fraudulently. Last year, the IRS paid more than $13 billion in tax credits to people who may not be eligible. This abuse of this program...
by Kevin Thompson | Aug 1, 2014 | Tax Laws
“I get the immediate question” says Kevin E. Thompson, CPA; “what does a CPA know about Marketing?” “A great question” says Thompson and replies “I know very, very little and it is still worthwhile to share these small, low-cost opportunities to grow business.”...
by Kevin Thompson | Jun 11, 2014 | Tax Laws
Have you been listening to radio ads that promise to get you out of paying your taxes? They claim that a taxpayer can settle their tax balances that are owed to the IRS with an Offer in Compromise (OIC). Many taxpayers who are unable to pay outstanding amounts are...
by Kevin Thompson | Jun 11, 2014 | Tax Laws
Business tax preparation can be just as daunting for a business owner as it is for an individual taxpayer. Business tax laws are complex, and it’s often wise to consult with a tax attorney or tax accountant. With several taxes to take into consideration, a...
by Kevin Thompson | Jun 10, 2014 | Tax Laws
If you are divorced and either receiving or paying alimony the IRS may start looking at how each of you reports on your tax return. When one of you takes a deduction for alimony, the other should be reporting it as income. This gets tricky, if for example, a payment...
by Kevin Thompson | May 20, 2014 | Tax Laws
As Baby Boomers prepare to retire, they are facing tough financial decisions in order to make their finances last for the duration of their lives. These concerns include: The best time to take Social Security benefits When to tap into retirement assets Health...
