If you're an independent contractor, then you have one thing to remember: You have to save money for your taxes. It's easy to spend all the money you have coming in, but you should be saving enough money to pay your taxes quarterly or yearly, depending on how much you...
Atlanta Georgia Tax Law Blog
IRS underpayment: penalties you may face
One of the rules that the IRS has in regards to taxes is that everyone in Georgia and around the nation must pay their federal income tax throughout the year. Some workers may already have these taxes withheld from their paycheck while others who are self-employed may...
Tips for avoiding audits after moving
Moving to Georgia may help to save money on income and other types of taxes. However, it is critical to establish residency in the state if you wish to take advantage of its tax rules. If you are considered a resident of another state, you may be required to file a...
When does a hobby become a business according to tax laws?
Whether their hobby makes a few dollars a week or $60,000 a year, an individual needs to declare their hobby income on their taxes. Otherwise, they might be subject to penalties from the IRS. Here's what people in Georgia need to know about declaring their hobby...
Tax audits vary greatly in seriousness
Opening the mailbox and seeing something from the Internal Revenue Service can make your heart stop. Many letters that the IRS sends are fairly troublesome news. These include things like adjustments to your taxes that lead to you owing money and audit notices. For...
Tax audits vary greatly in seriousness
Opening the mailbox and seeing something from the Internal Revenue Service can make your heart stop. Many letters that the IRS sends are fairly troublesome news. These include things like adjustments to your taxes that lead to you owing money and audit notices. For...
IRS penalties: What you should know about penalty relief
Oftentimes, in Georgia, battles with the IRS tend to be perceived as expensive and, overall, time wasters. This is why, when it comes to IRS penalties, it can be somewhat daunting to even ask for some relief. The good news is that there are many ways to go about...
How people can figure out if they owe money to the IRS
If an individual in Georgia owes back taxes to the IRS, they should pay off the taxes as soon as possible because late bills will incur increased interest in penalties. Here's how individuals can find out if they owe money to the IRS. How do people know if they owe...
Situations that could trigger an audit for your business
Even when people know they have done nothing wrong on their taxes, they usually want to do everything they can to avoid an audit by the Internal Revenue Service. Georgia business owners may be able to take some precautions to reduce the likelihood that they will be...
How business owners can negotiate with the IRS
If a business in Georgia owes back taxes to the IRS, it has several options to resolve the situation. Throughout the process, business owners should stay in touch with the IRS and be honest about their situation. If they try to avoid the IRS, they might find...
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