Professional Advice Archives - Priority Tax Relief https://www.prioritytaxrelief.com/category/tax-news/professional-advice/ Priority Tax Relief offers comprehensive services to individuals and businesses struggling with tax debt and other related issues. Our team of licensed professionals includes experienced attorneys, certified public accountants, and enrolled agents who handle all aspects of tax resolution, including negotiation with the IRS and state tax agencies, filing back tax returns, penalty abatement, and tax lien and levy release. We pride ourselves on providing personalized solutions that meet the unique needs of each client, while also offering affordable payment plans and transparent pricing. Our commitment to quality, integrity, and exceptional customer service has earned us a reputation as one of the top tax resolution companies in the industry. Contact us today to get started on the path to tax relief. Fri, 17 Jan 2025 00:36:55 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 https://www.prioritytaxrelief.com/wp-content/uploads/2024/04/logo-5-150x150.png Professional Advice Archives - Priority Tax Relief https://www.prioritytaxrelief.com/category/tax-news/professional-advice/ 32 32 New Year, New Finances: How to Tackle Your Tax Debt in 2025 https://www.prioritytaxrelief.com/how-to-tackle-your-tax-debt-in-2025/ Thu, 16 Jan 2025 21:27:10 +0000 https://www.prioritytaxrelief.com/?p=23996 Image Source: Canva Pro As we usher in 2025, it’s the perfect time to reset, reevaluate your financial health, and take control of your tax situation. Whether you’re facing lingering tax debt from previous years or want to ensure you avoid any tax troubles in the future, starting the year off with a plan can […]

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]]> Top Tax Relief Options Before Filing Your 2025 Taxes https://www.prioritytaxrelief.com/top-tax-relief-options-before-filing-your-2025-taxes/ Wed, 08 Jan 2025 21:30:56 +0000 https://www.prioritytaxrelief.com/?p=23999 Frequently Asked Questions: Top Tax Relief Options in 2025 Image Source: Canva Pro As the tax season approaches, understanding your options for managing and reducing tax liabilities is more important than ever. Whether you’re dealing with back taxes, penalties, or financial difficulties, tax relief programs can provide a lifeline. Knowing your options before filing your […]

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]]> Why You Should Pay Off IRS Tax Debt Before Credit Card Debt https://www.prioritytaxrelief.com/why-you-should-pay-off-irs-tax-debt-before-credit-card-debt/ Thu, 24 Oct 2024 20:13:57 +0000 https://www.prioritytaxrelief.com/?p=23588 Image Source: Canva Pro Debt is a burden that millions of Americans face, and managing it effectively is crucial for financial health. When balancing multiple obligations, such as tax debt owed to the IRS and credit card debt, many people may wonder which to prioritize. While both types of debt can have significant consequences if […]

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]]> Tax Preparation & Planning: How to Avoid Paying Taxes on Settlement Money https://www.prioritytaxrelief.com/tax-preparation-planning-how-to-avoid-paying-taxes-on-settlement-money/ Wed, 23 Oct 2024 18:48:31 +0000 https://www.prioritytaxrelief.com/?p=23567 Image Source: Canva Pro When receiving a legal settlement, one of the first questions that might come to mind is, “Will I owe taxes on this money?” This is a crucial consideration because settlements, whether for personal injury, employment disputes, or other legal matters, can lead to significant financial windfalls. However, without proper planning, these […]

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]]> Tax Checklist for New Businesses https://www.prioritytaxrelief.com/tax-checklist-for-new-businesses/ Thu, 10 Oct 2024 22:16:33 +0000 https://www.prioritytaxrelief.com/?p=23463 Image Source: Canva Pro Launching a business can be both exhilarating and demanding. Although the primary emphasis is typically on creating a product or service and drawing in customers, it is essential to comprehend and handle your tax obligations to maintain your business’s financial well-being. Below is a comprehensive tax checklist for starting a business […]

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]]> What Happens When You Do Not Pay Your Estimated Quarterly Taxes? https://www.prioritytaxrelief.com/what-happens-when-you-do-not-pay-your-estimated-quarterly-taxes/ Tue, 10 Sep 2024 17:12:23 +0000 https://www.prioritytaxrelief.com/?p=23307 Image source: Canva Pro Estimated quarterly taxes are payments made four times a year to the IRS to cover income taxes for individuals who do not have taxes automatically withheld from their paychecks. These include self-employed individuals, freelancers, independent contractors, small business owners, and even some retirees. If you do not pay your estimated quarterly […]

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]]> Understanding Unrealized Capital Gains? https://www.prioritytaxrelief.com/understanding-unrealized-capital-gains/ Thu, 05 Sep 2024 11:50:42 +0000 https://www.prioritytaxrelief.com/?p=23303 Image Source: Canva Pro In the field of investing, capital gains play a crucial role in evaluating an investor’s potential profit. It is important for investors to understand the concept of unrealized capital gains. We will explore the definition of unrealized capital gains, how they differ from realized capital gains, their tax implications, and effective […]

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]]> How Does Tax Debt Affect Your Credit Score? https://www.prioritytaxrelief.com/how-does-tax-debt-affect-your-credit-score/ Fri, 30 Aug 2024 21:46:03 +0000 https://www.prioritytaxrelief.com/?p=21733 Tax debt can be a significant financial burden, but many people are unsure about its impact on their credit score. Understanding how tax debt interacts with your credit report and score is crucial for managing your financial health. In this article, we’ll explore the relationship between tax debt and credit scores, as well as the […]

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]]> 5 Signs to Tell if an IRS Letter Is Real or Fake https://www.prioritytaxrelief.com/5-signs-to-tell-if-an-irs-letter-is-real-or-fake/ Tue, 27 Aug 2024 21:16:18 +0000 https://www.prioritytaxrelief.com/?p=21687 Receiving a letter from the IRS can be a stressful experience, especially if you’re unsure whether it’s genuine or a scam. Unfortunately, scammers are becoming increasingly sophisticated in their efforts to impersonate the IRS, making it more difficult to distinguish between legitimate communications and fraudulent ones. Here are five key signs to help you determine […]

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]]> How an Enrolled Agent Can Assist When You Receive A Notice https://www.prioritytaxrelief.com/how-an-enrolled-agent-can-assist-when-you-receive-a-notice/ Mon, 19 Aug 2024 14:37:19 +0000 https://www.prioritytaxrelief.com/?p=17976 Receiving an audit notice from the IRS is a situation that no taxpayer wants to face. The idea of having your tax return scrutinized can be stressful and overwhelming, especially if you’re unsure of what steps to take next. However, understanding the audit process and knowing how to seek professional help can make a significant […]

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