VATaxRelief

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Services for Real Estate Pros - Anchor Tax Relief LLC - 00100741-EA
RECENT BLOG POSTS
It’s late October. My favorite time of the year. The holidays are coming fast, fall colors paint the landscape, and  the football season is in full swing. But in case you haven't noticed, it's also the season for IRS notices. The extension deadlines for business and individual income tax filings ...
10/30/2021
Got your kids on payroll yet? When you hire your under-age-18 child, you shift taxable income from you to your child. Why does hiring family members matter? Because if you're single with taxable income of $40,526 or higher - or married with $81,050 or higher - you're in the 22% (or higher!) feder...
09/25/2021
Donating money is a great thing.But do you really want to donate to the IRS?Many Realtors do via missed tax deductions.I mean sure, I guess the IRS needs help…But they already have 74,000 employees and a budget of $11 billion.So I think they’re doing ok.Better than a lot of other organizations I ...
09/16/2021
Since the tax filing deadline comes at the busiest time of year for Realtors, many agents and brokers opt to file for an automatic extension to file with the IRS.That will push the deadline for S Corp filers to Sept 15... even Oct 15 for many LLC and sole proprietors. The problem is, with the cra...
09/11/2021
New agents are running so hard to launch their business and develop a customer base that they rarely take the time to set up their record-keeping and taxes correctly.I've prepared over 1,000 Real Estate Agent or Broker tax returns over the past few years, and it's amazing to me how a few simple c...
08/28/2021
Can the IRS really levy your W2 paycheck or 1099 Real Estate Commission Check? They can - and will - if you've  been getting IRS notices asking you pay taxes owed, and you fail to comply.  I've also seen agents and brokers who haven't even filed tax returns get levied by the IRS or their state ta...
08/20/2021
You didn’t have enough money to pay your taxes in full when you filed last year. So you were relieved to learn you could set up a monthly installment agreementYou requested a monthly pay plan for the remaining balance, and the IRS accepted it. So you began making payments every month and moved on...
04/11/2021
Over the years I've prepared nearly a thousand Realtor tax returns, and have helped many others fix IRS tax problems. I've learned there are five goofy mistakes agents that can get them in trouble with the IRS and cause them to pay thousands in taxes they don't have to be paying.  Spit-balling on...
03/27/2021
I've prepared hundreds of Realtor tax returns, and have provided IRS Representation to help many agents and brokers sleep better at night. Most could avoid overpaying on their taxes if they simply structure their business correctly.  I'd estimate that 50 % of agents are operate as sole proprietor...
03/18/2021
What if you dont file taxes this year? To many, the answer seems obvious, but I work with many Realtors who are seriously asking themselves this very question. Especially this year. Why? Because this spring agents are running crazy hard trying to find inventory to sell! Time is precious. They don...
03/14/2021
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JimFlauaus

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