Tax Relief Blog

SALT Credits – A Handy Guide to State and Local Tax Credits

December 10, 2021 | Mike Habib, EA

When it comes to matters regarding taxes and tax breaks, it’s important to know where you stand. The demand for professional tax services as of late is greater than ever before and if you’re a taxpayer yourself, you’ll instantly understand exactly why that is.

For anybody who is a taxpayer, not only does it pay to seek professional help, it also pays to understand the various tax breaks and deductions which could be available to you.

State and local tax credits for example, have been a hot topic as of late as it can potentially save you money in the form of a very handy deduction.

But what exactly are SALT credits and what is the important info that you need to know? Well, all will soon become clear as we share a very handy guide with you all about state and local tax credits.

Tax Credits You May Claim Now

November 19, 2021 | Mike Habib, EA

If you’re like most, then taxes are probably not your favorite thing in the world. But at the end of the year it’s always good to make sure that you don’t miss out on any deductions or credits – because let’s face it, money is tight and every dollar counts.

In this article we will go over 10 different tax credits that you may be able to claim in order to reduce your taxable income, and therefore the amount of taxes you owe. These include credits for charitable giving, education expenses, child care, retirement savings accounts and more and even better these are eligible for individuals and small business.

My name is Mike Habib and I’m here to tell you about tax credits for this year that can help save you some money. Whether you’re a freelancer, an employee with overtime hours, or just someone who wants to report losses from investments- there are plenty of ways for Americans to take advantage of what they deserve. So if you have questions about whether one credit applies to your situation we’ll cover it all in this article.

IRS Federal Tax Credits – Different Types of Tax Credits

October 18, 2021 | Mike Habib, EA

If you had the opportunity to receive a refund from the IRS or pay less tax legally than you thought you had to, would you take the opportunity or just let it pass you by? 9.9 times out of 10, you’d jump at the opportunity, and why wouldn’t you?

Despite there being numerous ways of paying the IRS fewer taxes, and indeed, of claiming back taxes and expenses that you weren’t aware you could, it turns out that every year, countless US citizens across the nation pass up these very opportunities by failing to take advantage of the IRS federal tax credits that they are legally entitled to.

Tax season may still be quite a way away yet, but it’ll soon be here before you know it and the last thing you want is to leave it until the last minute when filing your return, or worse still, to pay more tax than you should. If you are looking to reduce your tax liability, or even potentially enjoy a tax rebate from the taxman himself, familiarizing yourself with the various tax credits out there is highly recommended.

Tax & Accounting Service – Preparation, Planning, Representation

September 20, 2021 | Mike Habib, EA

Tax Help? IRS – FTB – CDTFA – EDD tax help.

We provide specialized tax & accounting service for individuals and or businesses facing IRS or State tax problems such as:

– Back Taxes

– Tax Levy – we release wage and bank levies

– Tax Audits

– Tax Appeal

– Unfiled Tax Returns – 1040, 1120, 1065

– Negotiated Tax Settlements

– Tax Liens

– Offer in Compromises

– Tax Planning & Tax Preparation

– Employment 941/940 Payroll Tax Problems/Disputes

Call us toll free 1-877-78-TAXES [1-877-788-2937]

Or visit us online at www.myirstaxrelief.com

Fee starts from $300 for basic tax preparation

Do not compromise on your tax service provider, call us for a free and confidential 15 minute consultation at 1-877-78-TAXES [1877-788-2937].

Whittier, Los Angeles, Pico Rivera, Norwalk, La Habra, Brea, Fullerton, Buena Park, Hacienda Heights, Rowland Heights, El Monte, Rosemead, Baldwin Park, Irvine, Santa Ana, Newport Beach, Santa Monica, Malibu, Beverly Hills, SGV, SFV, LA County, OC County, EA enrolled agent, CPA, Tax Lawyer

Whittier Emergency 911 Urgent accounting help

September 6, 2021 | Mike Habib, EA

This article is for business owners who need emergency bookkeeping, accounting services to catch up on back years and unprepared books. Many Whittier, Los Angeles, Orange County, and other businesses find themselves at a critical time financially due to Covid-19. The only true way to survive is to realize that you need professional CPA, EA help, finding the right help is the key. When it comes to your business finances no one knows better than an accountant what you are going through. This is why your first call should be to an accounting professional before you talk to your banker. We are uniquely qualified to offer 911 emergency Urgent accounting and bookkeeping help.

Get a free evaluation or second opinion by calling us at 1-877-788-2937.

Whittier Emergency 911 Urgent tax help

August 9, 2021 | Mike Habib, EA

For any business, the worst thing that can happen is that you can find yourself in a 911 emergency urgent tax help situation. The IRS is known to be the toughest and most ruthless of all collection agencies on the planet. If you ever find yourself in trouble with the IRS, never consider going it alone. There are always avenues for you to turn and they do allow you to have a representative on your side. While its reputation is one of cold-heated, it is pretty fair, with all things considered. Our Whittier based firm works with clients in Los Angeles, Orange Counties and others nationwide.

For this article, we are going to focus our attention on three specific types of tax issues for businesses. These issues are very serious and should never be ignored, even if you don’t agree with them. Contacting the right representation firm for your 911 urgent tax help will make the difference between a positive or negative outcome.

Get a free case evaluation at 1-877-788-2937.

Tax Debt Relief Services IRS-FTB-EDD-CDTFA

July 12, 2021 | Mike Habib, EA

Each year, many individual and business taxpayers end up owing the IRS hundreds of thousands of dollars due to not filing their taxes by the deadline or under paying them. If you have experienced back tax debt, you need to find a reliable and experienced professional who offers tax debt relief services to assist you in getting caught back up and on track as quickly as possible. While it may feel overwhelming right now, Mike Habib, a Los Angeles based tax debt relief professional can help ease the burden, show you what options you have, and help you choose the right path to get out of debt with the IRS and or FTB, EDD, CDTFA.

Get a free evaluation today at 1-877-788-2937.

How to Keep My New Corporation Out of Trouble?

June 14, 2021 | Mike Habib, EA

Running a corporation is not easy. There are many challenges that you will face, some of which you may not even expect until they happen. And while no one is perfect, you can minimize potential problems if you do the basics. This means surrounding yourself with the best personnel, including the right Los Angeles CPA or EA tax firm that can do so much for your needs.

What follows are some basic principles that will help keep your corporation out of trouble. While even the best practices cannot guarantee that your corporation will not face an emergency or unexpected situation, you can minimize the issues that it faces when you focus on the basics such as the following.

Know Your Current Financial Status – How to Keep My New Corporation Out of Trouble?

Having up to date financial records of all income transactions and expenses is a must for making good business decisions. Knowing where you stand financially provides a clear picture of how your corporation is fairing in the world. This means that you can make solid decisions based on facts and not assumptions.

Too many corporations have suffered because of making business decisions not based on their actual financial status.

Cannabis Tax & Accounting

May 17, 2021 | Mike Habib, EA

Cannabis-based businesses are some of the fastest growing business sectors in the country. With more and more states legalizing medical marijuana and also recreational use, dispensaries and grow operations are popping up all over. Unfortunately, there are a number of things that makes a cannabis business a challenge is that there are many unique situations that go into running an all-cash operation. You need to get EA, CPA help with Cannabis Accounting & Tax if you are going to have a thriving cannabis-based business in Los Angeles or Southern California.

Along with the accounting issues, it is one of the most heavily regulated industries in the country. That makes compliance and even more important consideration that funding. The last aspect is the taxes that have to be carefully monitors. The state and federal government each have their tax laws to consider and you have to be sure that you are dotting all your “I” and crossing all your “T”.

Get a free evaluation today at 1-877-788-2937.

IRS to increase back tax collection, audit enforcement action

April 19, 2021 | Mike Habib, EA

If you have not filed your tax returns, or if you owe unpaid back taxes, employment 941/940 payroll tax, or could possibly be audited, the IRS is raising the bar and hiring more revenue officers and revenue agents.

Our tax firm assists taxpayers in getting compliant, resolving their unpaid back tax matter and represent you at audit and exam conferences to present your case for the best possible tax debt relief outcome.

Call us today for a free evaluation at 1-877-788-2937.