R&L Tax and Accounting Services

01/29/2024

When a client comes to you with confusion about the IRS attempting to reject a credit claimed in a prior tax return, suggesting a liability of $1,500 plus taxes, I successfully collaborated with the client.

I explained the situation, aiding them in comprehending the rationale behind the IRS's disallowance of the credit.

I collected essential documents and evidence from the client, ultimately transforming the initial $1,500 tax bill into a reduced amount of $157.

01/16/2024

Cheers to a client victory! 🎉 Effectively challenged an initial IRS proposal of $16,500, presented evidence, and skillfully reduced it to $0.

01/02/2024

Wishing your business prosperity and financial success in the coming year!

May your bookkeeping be accurate and your ventures thrive.

May you have a New Year filled with smooth tax processes and financial success, your tax season be stress-free and your returns be rewarding.

Happy New Year from R&L Tax and Accounting Services!

11/08/2023

Be thankful that it is Wednesday.
Be thankful that you got to the level you are now.
You are blessed beyond doubt.
Have a blissful Wednesday altogether!

10/31/2023

12/09/2021

The Best Methods To Write Off Travel Expenses

A lot of business owners travel, either if it is often or once in a while for business.

And a lot of taxpayers do not take these travel deductions that can lower their tax liabilities because they do not know what is deductible and what is not.

Yes, travel expenses are high audit risks, have to be reported accurately or you can put yourself in trouble with Uncle Sam.

This video goes over what is considered business trip and what in your business trips are deductible and what are not.

If yo have any questions or concerns, book a consultation call:

https://linktr.ee/rltaxandaccounting

Don’t forget to also grab a free copy of my ebook on how to increase your business deduction:

http://go.rltaxandaccounting.com/lead-magnet

,

11/18/2021

For more Information,

Book a consultation call,
https://linktr.ee/rltaxandaccounting

11/16/2021

Do you have to respond to the IRS right away when you receive a letter?

When you receive a letter from the IRS, it comes with instructions of what you should do to move forward. In these instructions, it states that a no reply means that you agree with the proposal suggested in the letter.

It is not in your benefit to procrastinate from taking any action, especially if you disagree with what was stated in the letter or there is the slightest chance that it is not correct.

I would highly suggest that you also consult a professional to assist in representing you in front of the IRS to help resolve the matter as efficiently as possible.

For more information &/or assistance-

Book a consultation call,
https://linktr.ee/rltaxandaccounting

11/12/2021

Should you keep your business finances separated from your personal finances?

Now, the main reason of creating a business structure is to keep the business and yourself as to separate entities. If something happens to your business that it doesn’t affect your personal finances.

For example, if for any reason your business is being sued that it doesn’t affect you personally.

Now, if you start commingling everything, it defeats the whole purpose of separating everything and protecting yourself.

For more information &/or assistance-

Book a consultation call,
https://linktr.ee/rltaxandaccounting

11/11/2021

Did you know you could deduct 100% of your meals on your taxes?

For 2021 and 2022, congress has asked the IRS to provide 100% meal deductions to business owners to incentivize them to eat out and help the restaurant industry recover from the pandemic.

We will go over what is considered business meal and which business meals are deductible and non deductible with the IRS and some legal loopholes available out there.

Meal deductions are one of the highest audit risk deductions and need to be taken with caution and have proper audit proof.

If yo have any questions or concerns, book a consultation call:

https://linktr.ee/rltaxandaccounting

Don’t forget to also grab a free copy of my ebook on how to increase your business deduction:

http://go.rltaxandaccounting.com/lead-magnet

11/10/2021

How can you legally lower your tax liabilities?

Most of my REIs and Contractors biggest tax issue is a high tax liability and their one goal is to find a way to decrease their tax liabilities as much as possible and still be compliant.

Well, the best way to do so is by tax planning throughout the year. This is the most efficient way you can find out the tax consequences of your business activities and how to take advantage of certain tax strategies to decrease your tax liabilities. That also gives you a clear picture of your tax liabilities so you are not surprised during tax season with a big tax debt and give you a chance to pay your taxes on time and avoid unnecessary tax penalties and interests.

For more information &/or assistance-

Book a consultation call,
https://linktr.ee/rltaxandaccounting

11/09/2021

For more information &/or assistance-

Book a consultation call,
https://linktr.ee/rltaxandaccounting