A testamentary trust is an extension of a will that allows someone to put assets into a trust after they pass away for the purpose of controlling their distribution after they are no longer around to direct the assets. Testamentary trusts, while useful to set up instructions for the use of your assets after you are gone, aren’t useful for much else. A testamentary trust is basically...
Many business owners do not even consider the possibility of being audited. You should always prepare for this to happen. There are some red flags that could trigger an audit. If you are aware of these and can avoid them, you could also deter an audit. Why am I audited by the IRS?: 8 Invitations to an IRS Audit Due to the current federal deficit, there...
Small business owners have five options available to help settle tax issues that could arise with the IRS. These methods may not all work for every business, but as an owner, you should know that there are options to resolve tax issues. As a small business owner (SBO), you most likely will not enjoy any audits from the IRS. Things can become intimidating when the business owner...
