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November 2016 Archives

The basics of voluntary tax compliance

As we begin this blog post, we hope that our readers had a happy and plentiful Thanksgiving. Now we enter what is commonly known as “the most wonderful time of the year.” Indeed, retailers want you to believe so because of all of the deals that can be had at the mall (or online). If you are a small business, it is the best time of the year because it is the final push to make the best of the year. For consumer taxpayers, it is the anticipation of w-2 notices based on end-of-year bonuses.

Tax Mistakes: You don't know what you don't know

Taxes: one of the few things in life you can always be sure of. But can you be sure that you are always filing your taxes properly? How sure are you that you are entitled to that energy credit? And even if you are sure, is there the possibility that you've gotten it wrong? Will an audit send you down a rabbit-hole of financially frenzy? Past taxes and penalties can pile up quickly. Who can you turn to for help?

How to potentially avoid capital gains taxes

Wouldn’t it be great to completely avoid taxes? Most people would say yes. But be careful for what you wish for, because there is essentially no such thing as living “tax free.” However, lowering one’s tax burden to an easy and predictable payment is completely reasonable. This is especially true when it comes to the sale of property or securities, because of the prospect of capital gains taxes.

How to avoid tax penalties if you can't afford your tax bill

In our prior post, we highlighted how most people would rather pay their taxes to Uncle Sam through their regular withholding with each paycheck and get a refund every spring rather than to have a larger paycheck and possibly owe the federal government money.

The debate between accountants and tax attorneys

Depending on your sensibilities, dealing with tax issues can be as pleasant as a root canal or as routine as navigating traffic jams in the morning. Whether you are dealing with a Notice of Lien or being investigated for criminal charges, it may not be so easy to determine who is better suited to help with your problem: an accountant or a tax attorney.

A bigger refund or a bigger paycheck? Which is better for you?

The beginning of November is not a very popular time to talk about tax refunds; unless, of course, you are a political candidate running for office. Nevertheless, it is still important to think about your tax return in terms of the interest free loans that you may be giving to the federal government because of the withholdings in your paycheck.

Law Offices of Charles R. Frazier
5258 Murfreesboro Road #B
La Vergne, TN 37086

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