past due tax returns

Struggling With Past Due Tax Returns? Here’s Your Action Plan

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We’re rapidly approaching October 15th, which means that anyone who filed for a 2023 tax extension will soon owe payments.

What if you’re not ready to make them? What if you never filed an extension in the first place?

In 2021, the US hit a new record with over $688 billion worth of unpaid taxes, as reported by CBS.

You’re far from the first person to deal with past due tax returns and there’s still time to make an action plan.

At Master Accounting, our enrolled agent is here to support you through the steps to resolve back taxes.

Read on to learn more about what the process can look like and why you need professional help. Read more

business accounting firm

How a Business Accounting Firm Can Help You Navigate Complex Tax Laws

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Are you one of the many businesses struggling to make sense of complex tax regulations? Are you worried about past-due tax returns or staying on top of business tax compliance?

Whether a new business owner or an established company, the complexities of tax laws can lead to costly mistakes.

Failing to comply with ever-changing tax laws not only results in penalties but can also jeopardize the financial health of your business.

Partnering with a business accounting firm provides you with the expertise needed to navigate these challenges.

Imagine having an expert team that understands the intricacies of corporate tax planning and can guide you through the maze of tax regulations.

Master Accounting and Tax Service offers personalized solutions to ensure your business remains compliant while maximizing savings.

Keep reading to learn how an accounting firm like Master Accounting and Tax Service can simplify your tax processes, keep you compliant, and save you money. Read more

offer in compromise with IRS

Offer in Compromise With the IRS: What You Need to Know Before Applying

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It’s estimated that each year Americans fail to pay roughly $688 billion in taxes.

While some of this amount comes from non-filers, the vast majority is from households or businesses that can’t afford their tax debts.

Being in debt to the IRS can feel like a shadow is constantly looming over you.

Plus, the pentalty fees and interest, only digs you deeper into the hole.

However, there are potential solutions for people in this situation.

Specifically, you can seek an offer in compromise with the IRS.

But what exactly is an offer in compromise? And what do you need to know before applying for it? In this guide, we’ll answer these questions so you can decide if this form of IRS tax debt relief is right for you. Read more

offers in compromise

Understanding Offers in Compromise and Important Steps to Consider

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Almost one in four Americans owes the IRS some amount of back taxes.

When hard times coincide with tax season, many people fall into arrears.

While many see these debts as non-negotiable, the IRS can come to the negotiating table the same way any other lender can.

If you’ve fallen into a pit of debt that seems inescapable, you can find a rope to climb out.

Accountants call those ropes offers in compromise.

Want to know more about how to escape those inescapable debts? Keep reading. Read more

enrolled agent vs tax attorney

Enrolled Agent vs Tax Attorney: Understanding Their Roles and Expertise

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Imagine running a business that has a stellar branding strategy and offers premier products.

It also has no trouble keeping its team aligned with its goals.

However, tax problems arise that quickly bring your momentum to a halt.

Many people encounter tax issues but are unsure whether to hire an enrolled agent or a tax attorney.

Both can help, but they have different roles.

Let’s look at a tax professional comparison so you can choose the right enrolled agent vs tax attorney for your needs. Read more

llc tax accountant managing quarterly tax payment estimates

LLC Tax Accountant: Managing Quarterly Estimated Tax Payments

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Imagine running a business that has no issue providing stellar products and keeping its team motivated.

One day, though, you discover you owe thousands in penalties to the IRS for insufficient quarterly tax payments.

This can easily derail your progress.

Managing quarterly estimated tax payments can be daunting, but professional help can make it manageable.

There’s no shortage of ways an LLC tax accountant can improve your financial management.

Not all LLC tax help is created equal, though, and it’s important to understand what they have to offer.

Let’s explore the key ways they can streamline your tax obligations. Read more

fractional controller rates

Exploring Fractional Controller Rates: Maximize Efficiency and Savings

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Consider this scenario: You’re working late, sifting through endless spreadsheets, and feeling overwhelmed by numbers that don’t add up.

Your budget is tight, and you can’t afford a full-time financial expert.

Are you tired of seeing your business finances spiral out of control? You’re not alone.

Many business owners struggle with managing their finances efficiently while trying to cut costs.

This is where a fractional controller can step in.

But what are some average fractional controller rates you should look out for? How much should you pay to hire top-tier financial professionals on a part-time basis, giving you the expertise without the hefty price tag?

Let’s now look into how fractional controller services can help you streamline your finances and save money, and how much you should pay for them. Read more

arizona payroll services

Arizona Payroll Services Made Easy: A Guide for Small Business Owners

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Imagine you’re a small business owner in Arizona, and it’s payday.

Your employees are counting on you to pay them what they’re owed and do it on time.

Instead of a smooth process, you’re tangled up in complex calculations and compliance worries.

Financial issues are why approximately 20% of small businesses fail within the first year.

The good news is that it’s easier than it seems to prevent issues like these.

Outsourcing to Arizona payroll services is one of the best ways to do so.

We’ve created a brief guide of small business payroll tips on how to leverage these services.

Let’s explore the key information you should keep in mind moving forward. Read more

how payroll companies in AZ can ensure employees are paid consistently and on time

How Payroll Companies in Arizona Can Ensure Employees Are Paid Consistently and on Time

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In a world where timely paychecks are expected, numerous Arizona workers still face payday uncertainty.

How can this happen in today’s tech-savvy era?

Errors and delays in payroll processing can disrupt lives and cause real financial distress.

These hiccups can lead to unpaid bills and stress among employees.

This post explores how local payroll companies in Arizona can overcome these challenges to deliver reliable and punctual payments to employees.

By enhancing their strategies and technologies, these companies play a crucial role in ensuring financial stability for countless workers across the state.

Let’s explore the matter a little further. Read more

what to look for in controller services in AZ

8 Things to Look for in Controller Services in Arizona

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Every business owner knows the sting of financial surprises and how they can severely damage the running of what should be a smooth-sailing business.

Yet many don’t realize how the right controller services in Arizona can shield them.

Whether you’re knee-deep in financial sheets or just planning ahead, knowing what to look for in controller services can transform your approach.

Picking the right partner can make the difference between mere survival and robust growth.

This guide will arm you with the essential knowledge to choose wisely and boost your business stability.

It will help you understand the critical features of top-notch controller services.

The idea is to ensure that your financial operations are efficient, compliant, and tailored to support your business’s unique needs. Let’s explore further into the matter. Read more