If you own a small business, you know that taxes can be complicated. But do you know that one of the most common reasons for IRS audits is when the owner fails to pay themselves a reasonable salary from their corporation? Even if you don’t earn much from your business, not paying yourself can cause more harm than good in the long run.

While in Las Vegas this weekend, I was speaking with Eric Green, one of the top tax resolution attornies in the country, and he said that the IRS is going to crack down dramatically on all the corporations that exist with no salary being paid. We need to help business owners what they are doing wrong.

Here is what you need to know about why it’s important to pay yourself a reasonable salary and how Carlos Samaniego EA can help if you find yourself in trouble with the IRS.

Why Should I Pay Myself?
The IRS requires that small business owners pay themselves a “reasonable salary” from their corporation. This means that your salary should reflect what someone else would be paid for doing similar work in your industry or geographic area. The IRS considers anything less than this amount to be an attempt at tax avoidance, which could result in an audit and potential penalties. Not only that, but failing to pay yourself could also cause problems with creditors and other stakeholders who might question why the owner isn’t taking on some of the risk associated with running a business.

Just a few months ago, I encountered an unfortunate real estate broker who had been subjected to the dreaded IRS audit. To her dismay, they requested three years of business and personal records! Upon further examination it became clear that she never paid herself a salary in those same 3 year period – setting off red flags with the government agency. If only this property professional had made sure to pay herself regularly; what could have resulted in severe fines was easily avoided.

How Can Tax Debt Consultants Help Me?
Tax Debt Consultants understand the complex rules surrounding small business taxes, especially when it comes to paying yourself a reasonable salary. We can help you in planning payroll systems so that your salary is properly accounted for, as well as provide advice on how to structure your company’s finances so that both the IRS and other stakeholders are satisfied. Furthermore, if you have already been audited by the IRS over unpaid salaries, we can help negotiate on your behalf so that any penalties are minimized or avoided entirely.

Paying yourself a reasonable salary from your corporation is one of the most important things you can do as a small business owner. Not only does it ensure compliance with IRS regulations, but it also shows others—including customers, vendors, lenders, and other stakeholders—that you are serious about running a successful enterprise and taking on some of its risks along with its rewards. Tax Debt Consultants understand all of these complexities and can help make sure everything is done correctly so that both you and the IRS are happy with the outcome.

Don’t get caught unprepared – contact us today!

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CarlosSamaniego.com
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Office: (909)570-1103
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The Franchise Tax Board (FTB) is a state agency that is responsible for collecting taxes and administering tax laws. If you owe money to the FTB, they have the legal right to issue wage garnishments and bank levies in order to collect the debt. In this blog post, we’ll explain everything you need to know about FTB legal orders.

What Is a Franchise Tax Board Legal Order?
A Franchise Tax Board (FTB) legal order is a legal document that allows the FTB to collect taxes that are owed by levying bank accounts and/or wages. The FTB can issue these orders if you have failed to pay your taxes or have made an error on your tax return.

If you receive an FTB legal order, it’s important to take action immediately. The sooner you contact the FTB and come up with a payment plan, the better. Ignoring an FTB legal order will only make things worse—the FTB can take more aggressive collection actions, such as seizing assets or placing a lien on your property.

Why Do the Franchise Tax Board Issue Wage Garnishments and Bank Levies?
The franchise tax board can issue wage garnishments and bank levies in order to collect unpaid taxes. Both wage garnishments and bank levies are serious collection actions that can have a major financial impact on taxpayers.

Wage garnishments occur when the FTB instructs an employer to withhold a certain portion of an employee’s paycheck and send it directly to the FTB. This can be a major financial hardship for taxpayers, as it reduces their take-home pay.

Bank levies occur when the FTB instructs a financial institution to freeze a taxpayer’s bank account and send the funds directly to the FTB. This can also be a major financial hardship for taxpayers, as it prevents them from accessing their own money.

The Franchise Tax Board has the legal right to issue wage garnishments and bank levies in order to collect unpaid taxes. If you receive an FTB legal order, it’s important to take action immediately and contact the FTB. Ignoring an FTB legal order will only make things worse—the FTB can take more aggressive collection actions, such as seizing assets or placing a lien on your property.

Download my free book: http://TaxDebtBook.com

Visit Me: TaxDebtConsultant.com
TEXT ME!! +1 (909) 909-345-9215
Office: (909)570-1103
Book an Appointment: CallTaxEA.com

Carlos Samaniego is a true champion for those struggling with tax problems. He understands the pain and frustration that comes from facing hefty IRS fines and collections actions, and he works tirelessly to help people get back on their feet and put an end to their tax woes once and for all.

Carlos gained his expertise in tax law through years of personal experience dealing with the IRS. He started out as just another struggling individual who had gotten behind on his taxes, and he quickly learned what it takes to navigate the complex world of taxes and get back on track. Now, as a Federally Licensed Enrolled Agent and tax resolution specialist, Carlos helps countless others do the same by providing them with the guidance and support they need to successfully resolve their tax issues.

Throughout his career, Carlos has shown himself to be an incredibly dedicated advocate for those in need. He shared on Hollywood Live Interview, “People just don’t realized their our people out there than can show them the light at the end of the tunnel.” Carlos is always willing to go above and beyond the call of duty in order to assist his clients, working closely with them every step of the way to ensure that their needs are met. Whether you’re dealing with unfiled returns or collections actions from the IRS or state taxing authority, Carlos can help you find a solution that works for your unique situation.

If you’re struggling with tax problems of your own, then don’t hesitate to reach out to Carlos today. With his help, you can finally put your past behind you once and for all so that you can focus on moving forward toward a brighter future.

Download my free book: http://TaxDebtBook.com

Visit Me: TaxDebtConsultant.com
CarlosSamaniego.com
TEXT ME!! +1 (909) 909-345-9215
Office: (909)570-1103
Book an Appointment: CallTaxEA.com

Last week I had the opportunity to travel to Beverly Hills to be interviewed by Hollywood Live and talk about my book, “How to Make the IRS an Offer They Can’t Refuse.” We talked about the challenges that people are having dealing with IRS.

We discussed how scary it is when people are having their bank accounts levied, their paychecks are being garnished. I told them I know how my clients feel because I went through the exact same thing in my 20’s.

I didn’t file my taxes and owe the IRS a lot of money. That is why I am on mission to help people deal with this scary problem.

It was an honor to work with Emmy Award-winning director Nick Nanton during this filming. While at the event, I got a chance to attend two movie premiers and then attend an award ceremony where I received my award Expy Award for Media and Television. It was great seeing firsthand how all the behind-the-scenes work comes together to create a final product. This experience has only made me more dedicated to helping out anyone who is going through a tax problem. No one should have to go through what I went through, and I will do everything in my power to ensure they don’t.

If you or someone you know is dealing with a tax problem, don’t hesitate to reach out. I know exactly what you’re going through and can help you find a solution that works for you. No one should have to go through this alone, and I’ll be there every step of the way.

Are you a non-filer? Do you know what that means? It means that you have not filed a federal income tax return for a given year, even if you were required to do so.

The penalties for not filing can be steep, including fines and even criminal prosecution. But there is hope!

If you’re a non-filer, there are two ways to come clean with the IRS: through the voluntary disclosure program or by filing your missing returns.

The voluntary disclosure program is an agreement between the IRS and the taxpayer in which the taxpayer admits guilt and agrees to pay any back taxes, penalties, and interest. This program is usually the best option for those who have not filed because they owe taxes but have not been caught yet. The penalty for voluntarily disclosing is generally lower than the penalty for getting caught without disclosing.

Filing your missing returns is another option for those who have not filed. This option is best for taxpayers who do not owe any taxes or who only owe a small amount. The penalty for filing late is generally lower than the penalty for not filing at all, but it’s important to note that there is no guarantee that the IRS will not pursue criminal charges.

If you’re a non-filer, it’s important to come clean as soon as possible. The penalties only get worse the longer you stay out of compliance. The IRS offers two programs to help taxpayers come into compliance: the voluntary disclosure program and filing missing returns. Contact an attorney today to find out which option is best for you.

If you like to speak with us to see what are your best options in regards to your non-filing. You can book an appointment right now to speak with Carlos at CallTaxEA.com or call us direct at 909-570-1103