What Happens If a Mechanic’s Lien Is Not Filed Correctly? You did the work. You haven’t been paid. Now what? If you’re relying on a mechanic’s lien to protect your business, you better make sure it’s done right. Because here’s the truth: If you mess it up, even slightly, you might lose your only shot …
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Can You Deduct Gambling Losses on Your Taxes? Here’s What the IRS—and Your State—Wants to See You hit the jackpot—or maybe you didn’t. Either way, if gambling played a role in your finances last year, the IRS wants a look. Yes, gambling winnings are taxable. Every dollar. But what about your losses? Can you deduct …
Are Self-Employed Individuals’ Chances of Being Audited Higher? The Fear of an Audit Nobody wants to receive that dreaded letter from the IRS. If you’re self-employed, you may have heard that your chances of being audited are higher. Is that true? Unfortunately, yes. The IRS tends to scrutinize self-employed individuals more closely. But why? And …
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Today’s Tax Propaganda: Divorce and Taxes and YOU! Did you know that the MOST important document in your divorce is the “The Financial Statement?” WARNING: If you own your own business or own investment real estate,“The Financial Statement” is more complicated than it looks! It requires: 1. Info from Schedule C and Schedule E on …
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