Dissolve Companies Tax Planning
Buy and Sell Business Tax Planning
DHH Tax and Bookkeeping Services is a dedicated Tax and Bookkeeping firm owned by a California CPA, EA, MSA, Danielle Huang. She holds a Master degree in Accoutancy from California State University, Fullerton and has been working in Tax and Accounting Services over 10 years. The firm is a located in Newport Beach, California, mainly providing full-service QuickBooks Bookkeeping, Individual and Corporation Taxes and Tax Planning and Consultation services. She has been working with clients both domestic and international in a wide range of industries.
Services That Put US Tax Return and Small Businesses First
If you have a financial hardship and lack the money to pay off your IRS or State tax debt, you may have your account put into a Currently Not Collectible, or CNC, status. There are Advantages and D is advantages of CNC status. Advantages: Once your account is in CNC, all levies and garnishment is stopped. Disadvantages Since the tax debt is not wiped out, IRS may still place a lien on your property and IRS will continue monitor your finances and reopened the tax debt if they determine your financial status improves, and you now have more income to pay for the tax debt. Offer in Compromise, another way to solve our IRS tax debt. Officer in Compromise is The Offer in Compromise (or OIC) program is an Internal Revenue Service (IRS) program is a IRS program under 26 U.S.C. § 7122 that will allow qualified Corporations, Self-employed and individuals with an unpaid tax debt to negotiate a settled amount that is less than the total owed to clear the debt. However, it is not easy to get IRS to allow you to reduced your tax debt unless you meet the IRS calculation tables that shows your ability to pay the full tax debt is impossible. DHH is offering free consultation to assess your ability to apply for OIC
If you owe IRS taxes and cannot qualify for OIC and CNC. You can setup installment plans with IRS. Depending on how much the tax debt you have and how much you can offer to pay every month, there are different types of installments plan options. 1. If you owe less than 10,000, you qualify for 36 months (guaranteed installment plan) payment plans. Its easiest to apply 2. If you owe under 50,000 (streamlined installment plan), you will get up to 84 months to pay your debt without submitting your financial status papers Form 433-F. 3. If you owe more than 50,000, IRS will want to verify how much assets, income and expenses you have first before they will setup the installment plans with you. 4. If you are not able to pay monthly minimum payments, you can apply for partial installment plans to offer to pay smaller payments. If you are being levied or garnished on your bank or wages, as soon as the installment agreement is in place, you can request to release the levies. There are more details for each method, please book an appointment for free to discuss further with us.
Decision about selecting the right business entity for your startup is never an easy task, as there are many options and every option has its own pros and cons. Selecting a business entity depends on your financial needs, your short term and long term business goals, risk and ability to grow.
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Decision about selecting the right business entity for your startup is never an easy task, as there are many options and every option has its own pros and cons. Selecting a business...Continue Reading
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