Can You Go to Jail for Not Paying Taxes? Here’s What to Know
Yes, you can go to jail for not paying taxes or not filing a tax return, particularly in cases of tax evasion or fraud. The possibility of jail time exists if the failure to pay tax or the failure to file a tax return is intentional and aimed at evading tax obligations. In this article, […]
Sales Tax Audits and Sales Tax Audit Defense
Sales tax audits are on the rise in most states. This is due to budget shortfalls of states across the country. In fact, state auditors are much more aggressive about tax laws than the auditors at the IRS. The state has the power to do massive damage to a business as a result of a […]
Georgia Sales Tax: The Basics
How The Georgia Sales Tax Affects Your Business Sales tax is an important part of doing business in Georgia, particularly when it comes to tangible personal property. Sales tax impacts retailers in the state, as well as businesses selling online or remotely from out of state to customers in Georgia. Does Georgia Have a Sales […]
Trust Fund Recovery Penalty
The Trust Fund Recovery Penalty is a very severe set of rules that are meant to encourage voluntary compliance with our payroll tax laws. Payroll taxes includes the income tax and Federal Insurance Contributions Act (“FICA”) taxes that are withheld from every employee’s paycheck. It also includes the employer portion of FICA. The business pays […]
Georgia Sales Tax Exemption
Are 501(c)(3) Non-Profit Organizations Exempt from Sales Tax in Georgia? Sales tax is an important part of doing business in Georgia. The Georgia sales tax impacts sellers throughout the state, as well as businesses selling online or remotely from out of state to customers in Georgia. However, the Georgia sales tax rules for 501(c)(3) non-profit […]
Compensation: How Much to Pay Yourself
Maximizing Tax Savings for Entrepreneurs: Understanding Reasonable Compensation for LLCs and S Corporations Chances are you’ve seen something online about the potential tax savings of switching from an LLC to an S Corporation. However, most of these articles and videos gloss over the most important input of this decision – how much to pay yourself. […]