by Steven J Weil, PhD, EA, LCAM | Jun 2, 2023 | Blog, Business Tax, Personal Tax
In most cases the IRS has 3 years from the last day of the date your return was filed OR your return was due. However, this time limit, also known as the statute of limitations, can be extended under certain circumstances. The statute of limitations can be extended... by Steven J Weil, PhD, EA, LCAM | Jun 1, 2023 | Blog, Personal Tax
WRONG. This is an old and false argument which the courts have dismissed time and time again. U.S. taxes are not voluntary. The U.S. tax system is based on the principle of compulsory compliance, meaning that taxpayers are legally obligated to pay their taxes as... by Steven J Weil, PhD, EA, LCAM | May 29, 2023 | Blog, Business Tax, Personal Tax
If you can’t pay the taxes you owe, don’t just ignore the IRS. Instead consider your options. The IRS offers a number of plans for those that can’t pay. These plans include: long and short-term payment plans, temporary collection delays for those experiencing... by Steven J Weil, PhD, EA, LCAM | May 19, 2023 | Blog
Proper use of your accounting systems requires the system to be set-up properly. Set-up is a little different for each kind of business. Set-up starts with having a chart of accounts that is designed for your business. The kinds of revenue and expenses that a... by Steven J Weil, PhD, EA, LCAM | May 17, 2023 | Blog
4 Things You Should Get From Your Accounting System Business accounting is about more than just getting information to do your taxes. It should provide you with useful information that helps you understand how you are doing, provide a way to manage cash flow, prevent... 