From the Author Archive

New Tax Scams and Identity Theft Warnings – Did You Know?

The IRS recently posted warnings about new and ongoing tax scams, along with other fraudulent activity related to the COVID-19 (coronavirus) pandemic. The most prevalent and dangerous scams involve identity theft, deceptive advertising, and […]

Effective vs. Marginal Tax Rates – Did You Know?

Do taxpayers belonging to the “22% tax bracket” actually pay federal income taxes equal to 22% of their earnings? The answer is no, and the explanation lies in the difference between marginal and effective […]

Starting Your Business: Your Guide to Licensing

BUSINESS LICENSING There are generally three types of licenses that apply to businesses; Transaction Privilege (Sales) Tax Licenses, Regulatory (Professional) Licenses, and Occupational Licenses/Permits. These licenses are obtained by completing the required forms and […]

Explaining Tax Deadlines, Extensions, and Payments

There’s usually some degree of confusion regarding when “taxes” are due. Here are a few tips to help you better understand when tax returns and payments are due. Depending on the type of tax […]

HSA Limits Changed for 2018

IMPORTANT!!!! If you contribute to a Health Savings Account (HSA) you’ll want to take note – the new 2018 limit has been reduced to $6,850. The IRS had previously announced that the family limit […]

New Budget (and Tax Deal)

This morning (early) Congress passed and the President signed the new budget deal to restart government operations (after a several hour shutdown). Included in the bill were a number of resurrected tax provisions that […]

IRS Answers Questions Regarding 7 Common Tax Myths

The Internal Revenue service offered taxpayers some tips today to help clear up some common misconceptions and provided a list of common tax myths. We hear these misconceptions often and have summarized the IRS […]

Evan A. Nielsen Named as Alternate on IRS Advocacy Panel

The Internal Revenue Service selected Evan A. Nielsen of Nielsen Law Group as an alternate on the Taxpayer Advocacy Panel (TAP). As defined by the Internal Revenue Service (IRS), the TAP is a Federal […]

Integrating Life Insurance Benefits into Your Estate Plan

Life insurance is a wonderful tool to provide income security for the insured’s dependents and to provide liquidity essential for payment of estate taxes or equalization of distributions to heirs of the estate. But […]

Postnuptial Agreements for Asset Protection

A postnuptial agreement is a contract between spouses that sets out how assets or liabilities will be allocated between them during a marriage and at death or divorce. This agreement offers spouses the opportunity […]