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Does the IRS tax joint ventures as partnerships? Ordinarily, the IRS does tax joint ventures as partnerships. However, Congress passed the Small Business and Work Opportunity Tax Act of 2007 in May of that year. As part of the Act, a qualifying joint venture owned and run by a married couple is to receive sole […]

Paying taxes is what some Missouri residents may consider a necessary evil. You may be among the many individuals who dread having to file your tax returns and pay any outstanding taxes that you may owe. Of course, in lucky situations, you could get a refund, which many people also look forward to. You could

Owners of small businesses are often forced to serve a variety of different roles — many of which they may have little or no experience or training — to ensure the business’s success. Unfortunately, those who are skilled and knowledgeable at providing a certain service, for example, may feel overwhelmed by the financial management aspect

It’s bad enough to find yourself embroiled in a controversy with the IRS. The last thing you should have to worry about is someone taking advantage of your need or situation, but each year, innocent taxpayers like you fall victim to scams. In response, the agency issues a list of what it calls the “Dirty

Most people and businesses in the United States are required to pay taxes. Though there are relatively few people who fully understand federal laws regarding taxes, most in Missouri and across the country are able to successfully file their taxes each year as required. However, when a tax situation becomes complicated — such as when

Often those in Missouri and across the country who make a great deal of money have people who help them manage it, including preparing and filing their tax returns for them. Unfortunately, even with oversight, mistakes can be made. In fact, actor Terrence Howard and his ex-wife are now reportedly under investigation for tax evasion, though

When a letter from the IRS comes in the mail, you may be like many in Missouri and across the country who assume it can’t be good news. In fact, you may delay finding out by leaving the mail untouched for days or even weeks. As understandable as it may be to hide from the IRS, in some

People who own their own companies in Missouri and across the country often work hard to ensure their success. However, some people may accidentally make mistakes with the money that their business brings in — innocuous decisions that may not fully take into consideration the tax implications. Unfortunately, a business owner in another state has

Despite your best efforts, you have been unable to keep up with your debt. Perhaps the breaking point was when you completed your tax returns and discovered you owed the federal government a significant amount of money. You may be doing your best, working extra shifts or taking a second job, but you feel as