February 2019 Archives

Tax considerations for business partnerships

A great deal of responsibilities lay on the shoulders of individual business owners operating in partnerships, including tax liability. Their professional decisions can have major personal financial impacts, and therefore, must be chosen carefully. Business owners operating in partnerships should consider the following three tax tips.

Taxpayers may receive leniency on mistakes this year

Changes to tax laws have left many Americans unsure about their own tax liability. Taxpayers with complex assets typically face a more complicated filing process, but this year’s filing season may be even more confusing with new rules in place. Without help from experienced professionals, it is possible that many people will make mistakes on their tax returns. Fortunately, confused taxpayers are getting a break this year.

How likely are you to be audited?

You often hear of people being audited, but how likely are you to actually receive an audit notice from the Internal Revenue Service (IRS)? According to a recent report, your chances are around one in 160.

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