Posted by Charles R. Frazier | Jul 19, 2023 |
What should you do if you owe money to the IRS? Communicate! Ignoring the IRS only makes it more likely that it will engage in aggressive collection enforcement activities. Most situations can be resolved with consistent communication and an understanding of options for resolving tax debts.
Posted by Frazier Inbox | Jul 06, 2023 |
As a business owner in Tennessee, it's important to stay up to date with any changes in state law that could potentially impact your business. One such change is the expansion of the repossession sales and use tax credit, which takes effect on July 1, 2023. This credit is designed to help dealers who sell used automobiles by providing them with relief from the sales and use tax burden. In this blog post, we'll dive deeper into the details of this expansion and what it means for your business.
Posted by Charles R. Frazier | Jun 30, 2023 |
In the heartland of Rutherford County, Tennessee, a remarkable initiative is quietly shaping the trajectory of local leadership. The development of leaders through programs such as Leadership Rutherford has become a transformative force, empowering individuals to become catalysts for positive cha...
Posted by Frazier Inbox | Jun 30, 2023 |
Enhance Your Business Financial Acumen: Join Our Workshop on Accounting Principles and Financial Statements
Summary: As a business owner, it is essential to have a solid grasp of basic accounting principles and an understanding of the primary financial statements. Our upcoming workshop is designed to help you gain this crucial knowledge and effectively monitor the financial health of your business. By exploring the three primary financial statements and their interrelationships, this workshop will provide valuable insights into their significance. Furthermore, it will equip you with the necessary skills to confidently discuss your business's financials with lenders and investors. While the workshop won't turn you into an accountant, it will significantly enhance your proficiency in the language and concepts of finance, empowering you to make informed decisions that matter for your business's success. Don't miss this opportunity to boost your financial acumen - register now!
Posted by Frazier Inbox | Jun 26, 2023 |
The Tennessee Department of Revenue will be raising the prevailing and installment payment agreement interest rates from July 1, 2023. The prevailing interest rate charged to Tennessee taxpayers with past due balances or those who fail to make estimated quarterly payments will increase to 12.25%.
Additionally, an additional 1% will be charged for taxpayers who pay past-due taxes through an installment agreement, making the total interest rate for installment payment agreements 13.25%. The decision to raise these rates is in response to the increase in the Prime Interest Rate, which is tied to the FED Funds rate and the discount rate set by the Federal Reserve.
This change will affect Tennessee taxpayers who owe balances to the state, particularly small businesses. It is advised that businesses have a plan in place to pay their state tax balances on time to avoid the rising rates. It is also worth noting that these expenses are generally not deductible for taxpayers, so it may be more beneficial to borrow funds from a bank or another capital source rather than borrowing from the state.
Charles R. Frazier is a Nashville-based tax attorney specializing in tax issues and planning services. He has represented numerous taxpayers before the IRS and state department of revenue. More information about his services can be found online.
Rick Miller is a Certified Public Accountant in the Nashville area who prepares tax returns for business owners and individuals in Tennessee and at the federal level.
Posted by Charles R. Frazier | Apr 24, 2023 |
As seen April 24, 2023, in The Tennessean.
When families show up in my office after a loved one has passed away or become incapacitated, it is usually a tough time for everyone involved. However, if they haven't planned for this moment, then there's a chance that I can do little to help them. Af...
Posted by Charles R. Frazier | Oct 24, 2022 |
Taxation of the new student loan forgiveness program could be considered one of the “fine print” topics attached to this federal debt relief plan. As the U.S. Department of Education officially launched its student loan forgiveness application this week, an estimated 43 million Americans stand to...
Posted by Charles R. Frazier | Sep 09, 2022 |
Happiness is something that humanity, in large part, has spent a tremendous amount of effort pursuing throughout history. Early on, happiness likely came from simple victories such as having a full belly, surviving another day, or simply staying warm. Over time, with the progress of civilization,...
Posted by Charles R. Frazier | Aug 23, 2022 |
BRENTWOOD, Tenn., & MIDLAND, Mich. – The Inflation Reduction Act was signed into law by the President earlier in the week. Conservative headlines claim 87,000 new armed IRS agents are coming after the American middle class. Tax professionals are balking at these claims.
“With 87,000 new IRS agent...
Posted by Charles R. Frazier | Aug 17, 2022 |
LA VERGNE, Tenn. – Attorney Charles R. Frazier has been named to the 2023 class of Leadership Rutherford, a personal development program within the Rutherford County Chamber of Commerce. Frazier is one of 40 leaders who were selected for the program which is designed to motivate participants to d...
Posted by Charles R. Frazier | Aug 15, 2022 |
The Law Offices of Charles R. Frazier are excited to announce a new way for our clients to pay. ClientCredit, powered by Affirm, allows our clients to finance their payments to our firm with no hidden fees, no late charges, and zero surprises.
To take advantage of ClientCredit, simply click on th...
Posted by Charles R. Frazier | Jul 29, 2022 |
If you have an ownership interest in a closely-held business, you know how important leadership is to the success of that business. Are you prepared for a smooth transition when that leadership changes?
A sudden health crisis could cause a leader to step away from a management role. Or the succe...
Posted by Charles R. Frazier | Jul 15, 2022 |
We invite you to join a free webinar with Charles Frazier on July 20th.
Frazier will be presenting on Estate Planning at the Financial Planning webinar hosted by the Black Employee Network.
Join the meeting here:
https://chime.aws/6435194297
Meeting ID: 6435 19 4297
Posted by Charles R. Frazier | Jun 09, 2022 |
The summer months are upon us. It's the season for road trips across Tennessee from the winding roads of the Smoky Mountains to quaint downtown streets in the Tennessee Valley. Even for those who stay home, there are festivals like the returning CMA Fest in Nashville and Bonnaroo in Manchester th...
Posted by Charles R. Frazier | Jun 03, 2022 |
The Law Offices of Charles R. Frazier announced that it has expanded its taxpayer representation services to residents in the Great Lakes region and throughout the state of Michigan, with its new office in Midland.
While the firm provides tax law and estate planning services nationwide, the prima...
Posted by Charles R. Frazier | May 31, 2022 |
Many parents or guardians of loved ones with special needs struggle to navigate the landscape of special needs trusts and inheritance. You may feel like you have enough time to decide later, especially if your loved one is still a child. However, it's essential to prepare for the unexpected and s...
Posted by Charles R. Frazier | Apr 26, 2022 |
Estate planning in the digital age includes much more than most people realize. Virtually everyone has digital assets, and many of those assets have no paper trail at all.
It is essential to ensure that you account for these assets as part of your estate plan. Otherwise, your loved ones may be le...
Posted by Charles R. Frazier | Mar 28, 2022 |
LA VERGNE, Tenn. – Charles R. Frazier is newly certified as an Estate Planning Law Specialist (EPLS) by the Estate Law Specialist Board, Inc., an organization accredited by the American Bar Association and affiliated with the National Association of Estate Planners & Councils. Frazier is one of o...
Posted by Charles R. Frazier | Mar 11, 2022 |
Tax season is fully underway and an important deadline for businesses is just around the corner. March 15 is the due date for most organizations classified as partnerships and S-Corporations to file their annual tax returns to the Internal Revenue Service. It's critical to file these returns on t...
Posted by Charles R. Frazier | Feb 24, 2022 |
We are thrilled to announce a new addition to our team, Mr. Rick Miller, CPA. He will lead tax matters at our firm in Brentwood. Rick has extensive experience in tax planning and compliance.
A banking and financial industry insider since 2002, Rick most recently operated his own tax and ...
Posted by Charles R. Frazier | Jan 31, 2022 |
Now is the perfect time to dig into your files and see whether you need to add or update documents in your estate planning portfolio.
Regardless of age or asset levels, everyone should have a few basic documents prepared. Here's a quick list of what to consider:
Financial Power of Attorney
If you...
Posted by Charles R. Frazier | Dec 27, 2021 |
La Vergne, Tenn. – The Law Offices of Charles R. Frazier announced that it is celebrating 10 years of providing legal services to individuals and businesses across Tennessee.
The firm's practice areas are tax law, business law, and estate planning. Since opening its doors in 2009, the firm has ac...
Posted by Charles R. Frazier | Jul 10, 2020 |
Tax Day 2020 for most taxpayers was extended to July 15, which is only a few days away. Due to the unprecedented effects of the global COVID-19 pandemic, the Internal Revenue Service implemented several temporary policies to assist taxpayers and provide relief during an economic downturn. However...
Posted by Charles R. Frazier | Jul 02, 2020 |
July is National Family Reunion Month and it's typically a time to gather for barbecues, fireworks celebrations, pool parties and more. However, during unprecedented times that restrict how and where we can gather, we are all having to be more creative when trying to honor typical family traditio...
Posted by Charles R. Frazier | Jun 10, 2020 |
During these unprecedented times, we are all working hard – day in and day out (and often evenings, nights, and weekends). However, an important question remains; are you preparing for your own care? Working together, the Law Offices of Charles R. Frazier can craft the best possible estate plan t...