409A Valuations and Stock Options
Thanks to the IRS, 409A valuations are a regular part of business for companies that issue stock options to employees. This is the reality for any company that uses stock options as part of its employee compensation, including many early-stage companies. Businesses that issue stock options should get a valuation at least annually. IRS Requires […]
Guide to IRS Payment Plans or Installment Agreements
The Basics of IRS Payment Plans or Installment Agreements IRS installment agreements, also called IRS payment plans, are offered to taxpayers looking for a way to pay their tax to the government in monthly amounts. Installment agreements are among the most popular programs requested by clients at our Atlanta CPA firm. There are several variations […]
Section 1031 Exchange and Delaware Statutory Trust
Delaware Statutory Trust as a Section 1031 Exchange Solution for Real Estate Investors Section 1031 allows an investor to sell real estate for a gain and then roll the proceeds into another “like-kind” asset. This type of transaction is called a “1031 exchange,” which allows the investor to defer paying capital gains tax on the […]
Federal Tax Lien: How to Solve the Problem
IRS Tax Liens What is a Tax Lien? A tax lien is a claim by the IRS that taxes are owed and they intend to collect these taxes. It is legal claim by the IRS against your property. The lien attaches to your property until the tax is paid. The purpose of a tax lien […]
IRS Appeals Process
The IRS Appeals Process for collections began in 1998 with the IRS Restructuring and Reform Act. As a result of this law, taxpayers were no longer at the mercy of the IRS. The new rules prohibited the IRS from levying bank accounts and garnishing wages at will. And a formal appeals process was instituted to […]
Expense Deduction for Teachers: $50 Increase
Educator Expenses: A Bit of Good News The IRS increased the expense deduction for teachers by $50! While this is not earth shattering, at least it is a step in the right direction. We like to share good news whenever we can. The Basics of Teacher Tax Deductions Teachers and other educators may now deduct […]
Past Due Tax Returns
Millions of people across the United States do not file tax returns under the mistaken belief that it is best not to file a tax return if they cannot pay the tax. However, past due or unfiled tax returns cause a host of problems. It is both illegal not to file and a strategic mistake. […]
Getting an ITIN the Easy Way: Certified Acceptance Agent
An Individual Taxpayer Identification Number (ITIN) is a tax processing number issued by the Internal Revenue Service. The IRS issues ITINs to individuals who are required to have a U.S. taxpayer identification number but who are not eligible to obtain a Social Security number (SSN) from the Social Security Administration. This includes non-United States citizens […]
Tax Secrets Webinar – CSG & Massey
Check out our recent tax secrets webinar featuring Core Solutions Group and Massey and Company CPA. In this video, we discuss tax tips that law firms and small businesses can take advantage of to be successful. ____________________________________ If you or someone you know has a tax issue relating to a business, please contact us […]
ProfitSense Podcast
Family Owned Businesses In this inspiring episode of 𝘗𝘳𝘰𝘧𝘪𝘵𝘚𝘦𝘯𝘴𝘦 with Bill McDermott, Gary Massey, CPA discusses the story of his firm and how a little advance planning avoids tax headaches down the road. Bronson Lavender, Senior Vice President with Pinnacle Bank, talks about his passion and calling for helping clients throughout his career in banking. […]