SPEA Tax

04/26/2024

Discover how we helped a client facing an IRS bill exceeding $11,000 due to a retirement account rollover issue. Our expertise in retirement tax matters and meticulous representation led to the IRS removing the entire bill, providing significant relief and a testament to our commitment to our clients' causes....

Discover how we helped a client facing an IRS bill exceeding $11,000 due to a retirement account rollover issue. Our expertise in retirement tax matters and meticulous representation led to the IRS removing the entire bill, providing significant relief and a testament to our commitment to our client...

04/19/2024

Learn how we assisted a client facing an IRS audit with a proposed tax increase of over $8,000 due to unreported self-employment income and expenses. Our meticulous approach, timely response, and thorough documentation led to a significant adjustment, saving the client over $6,000 and earning their trust and recommendations....

Learn how we assisted a client facing an IRS audit with a proposed tax increase of over $8,000 due to unreported self-employment income and expenses. Our meticulous approach, timely response, and thorough documentation led to a significant adjustment, saving the client over $6,000 and earning their....

04/12/2024

Issue: Roth IRA distribution kicks in taxable income. Here's the kicker: it should not. $$ at Stake: over $17,000 When a client received an audit letter from the IRS proposing a tax increase of over $17,000, they turned to us for assistance. Unfamiliar with the complexities of taxation, the client was unsure about the reasons behind the proposed increase and sought our expertise to address the issue....

Learn how our expertise helped a client facing an IRS audit proposing a tax increase of over $17,000 due to a Roth IRA distribution. By clarifying the taxation rules for Roth IRAs and providing compelling evidence, we successfully convinced the IRS to remove the bill entirely, saving the client from...

04/05/2024

Discover how we helped a client facing an IRS audit with a proposed tax increase of over $25,000 due to reporting errors. Our thorough analysis, timely response, and gathering of supporting documents led to the IRS removing the bill entirely, resulting in significant savings for the client....

Discover how we helped a client facing an IRS audit with a proposed tax increase of over $25,000 due to reporting errors. Our thorough analysis, timely response, and gathering of supporting documents led to the IRS removing the bill entirely, resulting in significant savings for the client.

03/29/2024

Discover how we helped a client facing an IRS audit proposing a tax increase of almost $4,000 due to identity theft. Our swift action and thorough gathering of evidence led to the IRS removing the bill entirely, saving the client a substantial amount and providing a major win....

Discover how we helped a client facing an IRS audit proposing a tax increase of almost $4,000 due to identity theft. Our swift action and thorough gathering of evidence led to the IRS removing the bill entirely, saving the client a substantial amount and providing a major win.

03/22/2024

Learn how we helped a client facing an IRS audit for their side business expenses, resulting in an almost $9,000 bill. Our expertise in IRS audits and meticulous gathering of supporting documents led to the IRS removing the bill entirely, providing significant relief and a major win for the client....

Learn how we helped a client facing an IRS audit for their side business expenses, resulting in an almost $9,000 bill. Our expertise in IRS audits and meticulous gathering of supporting documents led to the IRS removing the bill entirely, providing significant relief and a major win for the client.

03/15/2024

Discover how we helped a client facing an IRS bill of almost $10,000 due to errors in claiming dependents and overstating HSA contributions. Our expertise in tax matters and diligent representation led to the IRS removing the bill entirely, saving the client a substantial amount and providing a major win....

Discover how we helped a client facing an IRS bill of almost $10,000 due to errors in claiming dependents and overstating HSA contributions. Our expertise in tax matters and diligent representation led to the IRS removing the bill entirely, saving the client a substantial amount and providing a majo...

03/08/2024

Discover how we helped a client facing an IRS bill of over $3,000 due to a tax return error regarding retirement income. Our expertise in tax preparation and diligent representation led to the IRS removing the bill entirely, saving the client a substantial amount and providing a significant win....

Discover how we helped a client facing an IRS bill of over $3,000 due to a tax return error regarding retirement income. Our expertise in tax preparation and diligent representation led to the IRS removing the bill entirely, saving the client a substantial amount and providing a significant win.

03/04/2024

Unwrapping Tax Write-Offs: Your Guide to Tax-Saving Adventures!

Discover the hidden treasures of tax deductions! Our guide will unwrap the mystery of tax write-offs, turning your tax season into a tax-saving adventure!

03/01/2024

Navigating taxes doesn't have to be as daunting as a wine list! Uncork the secrets behind the tax differences between a $50 Amazon gift card and a $50 bottle of wine from Amazon.

Understanding the tax implications of different types of gifts can save you headaches come tax season. Learn about the tax differences between a $50 Amazon gift card and a $50 bottle of wine from Amazon.

02/27/2024

Tax season got you feeling like a lone wolf in the freelance world? Fear not, the Self-Employed Squad, Freelance Fam, and Consulting Connoisseur are here to save the day with some hilarious yet helpful tax tips!

Tax season got you feeling like a lone wolf in the freelance world? Fear not, the Self-Employed Squad, Freelance Fam, and Consulting Connoisseur are here to save the day with some hilarious yet helpful tax tips! Dive in and learn how to navigate the tax jungle like a pro while keeping your sense of....

02/22/2024

Should you take random tax advice from random people? Hm....

Oh, if we have one dollar for every time a client says: "My real estate agent/life insurance guy says..." Would you ask a tax preparer for plumbing help? Definitely not. There's a reason why you go to certain people for specific issues.

02/21/2024

Learn how we helped a client facing an IRS bill of almost $3,000 due to a misunderstanding of Premium Tax Credit (PTC) repayment. Our expertise in navigating the intricacies of the PTC and providing evidence to the IRS resulted in the removal of the erroneous bill, showcasing our commitment to resolving tax issues for our clients....

Learn how we helped a client facing an IRS bill of almost $3,000 due to a misunderstanding of Premium Tax Credit (PTC) repayment. Our expertise in navigating the intricacies of the PTC and providing evidence to the IRS resulted in the removal of the erroneous bill, showcasing our commitment to resol...

02/20/2024

I Can't Pay My IRS Bill. What Options Do I Have? IRS Debt: The Ultimate Comedy of Errors

So, you find yourself in a bit of a pickle with the IRS. Don't worry—you're not alone in this comedic saga of tax troubles. Let's navigate this IRS minefield with a touch of humor and a lot of practical advice in our blog post: https://spea.tax/2023/06/29/i-cant-pay-my-irs-bill-what-options-do-i-have/

02/16/2024

Help! I Can't Pay My IRS Bill: A Comedy of Errors (and Solutions)

So, you find yourself in a pickle with the IRS—no need to panic! We're about to turn this tax disaster into a comedy of errors with a happy ending (well, maybe not that happy, but bear with me). Read more in our blog: https://spea.tax/2023/06/29/i-cant-pay-my-irs-bill-what-options-do-i-have/

Seeking expert guidance for your personal taxes? Look no further than SPEA Tax for customized solutions! Our range of specialized services covers everything from individual tax return consultation to meticulous preparation, strategic planning, and effective audit resolution.

02/16/2024

The Alternative Minimum Tax (AMT) is a special tax system in the United States aimed at ensuring that everyone pays their fair share, especially those with higher incomes. Originally, it was put in place to make sure that high-income individuals and entities couldn't avoid paying taxes by using various deductions and loopholes. The AMT works alongside the regular income tax system but with its own set of rules for calculating taxes....

The Alternative Minimum Tax (AMT) is a special tax system in the United States aimed at ensuring that everyone pays their fair share, especially those with higher incomes. Originally, it was put in place to make sure that high-income individuals and entities couldn't avoid paying taxes by using vari...

02/16/2024

Learn how we successfully defended our client's position that she was not liable for income tax due to a payroll input error....

Discover how we helped a client facing an IRS bill of over $30,000 due to unreported income. The IRS was assessing $70,000 from a 1099-NEC, but our client insisted she never worked for the company. We suspected identity theft and presented compelling evidence to the IRS. After review, the IRS agreed...

02/14/2024

I Received a CP75 IRS Notice. How Should I Respond? Ah, the CP75 IRS Notice—the love letter you never wanted from the taxman. But hey, don't panic! This notice is just the IRS's way of saying, "Hey, we noticed a little hiccup in your tax return, and we'd love to chat about it." Read more how we can help you here: https://spea.tax/2023/12/28/i-received-a-cp75-irs-notice-how-should-i-respond/

02/11/2024

The Wild World of Self-Employment Expenses: A Comedy of Deductions

Ah, the glamorous life of the self-employed—setting your own hours, being your own boss, and navigating the maze of tax deductions like a pro. It's a wild ride, but fear not! I'm here to guide you through the jungle of expenses you can deduct -- read more in our blog here: https://spea.tax/2022/12/28/im-self-employed-what-expenses-can-i-deduct/

02/11/2024

Easy Money Coming to You in 2024 with Saver’s Credit. Hey, savvy saver! Get ready to party like it's 2024 because the Saver's Credit is here to make your bank account do a little happy dance. Imagine getting paid just for being responsible with your money—sounds like a dream, right? Well, pinch yourself, because it's real! Read more here: https://spea.tax/2023/11/26/easy-money-coming-to-you-in-2024-with-savers-credit-%f0%9f%9a%80%f0%9f%92%b0%e2%9c%a8/

02/11/2024

I Make Too Much Money. What Are Some Ways I Can Lower My Tax Bill? If you're making good money, it's natural to want to keep more of it. Fortunately, there are several strategies you can use to lower your tax bill. Here are some options to consider, read more in our blog post:

If you're earning a high income, you might be wondering how to reduce your tax bill. Discover effective strategies for high-income earners to lower their taxes while staying compliant with tax laws. Explore options such as maximizing retirement contributions, utilizing tax-deferred investments, and....

02/09/2024

How we managed to reduce our client's tax balance from almost $10,000 to a bit fat zero....

Learn how we helped a client facing a hefty IRS bill due to a misunderstood cancellation of debt issue. Our timely response and strategic defense led to the IRS removing the debt from taxable income, resulting in no changes to the client's tax return. A testament to our expertise and dedication in r...

02/02/2024

The short answer is yes. You can have a home office deduction for multiple businesses in the same home. Here are some key points to remember: Splitting Expenses: You and the other business owner cannot deduct the same expenses for the home office. You need to divide the total expenses between your businesses based on a reasonable method, like splitting them equally or based on the time each business uses the space....

Learn how to handle the complexities of claiming multiple home offices when both you and your spouse work from home. Understand the IRS rules and requirements, including how to split deductions, maintain proper documentation, and ensure eligibility. Get expert tips to navigate this unique tax situat...

01/31/2024

Real Case: How We Got IRS to Reduce Balance From $3,500 to $500.... how? Read more here: https://gotaudited.com/2023/11/16/real-case-how-we-got-irs-to-reduce-balance-from-3500-to-500/

01/31/2024

Taxpayers Confessed: Worst Tax Mistakes I've Ever Made. Learn from others' mistakes! Discover the biggest tax blunders confessed by taxpayers. From missed deductions to filing errors, uncover common pitfalls and how to avoid them. Get insights from real stories and expert advice to navigate tax season with confidence. Don't let these mistakes happen to you - stay informed and file your taxes stress-free, here: https://gotaudited.com/2023/06/29/worst-tax-mistakes-ive-ever-made/

01/31/2024

I Make Too Much Money. What Are Some Ways I Can Lower My Tax Bill? Explore smart strategies to optimize your tax situation. From maximizing retirement contributions to leveraging tax-efficient investments, discover practical tips to lower your tax liability while making the most of your income here: https://gotaudited.com/2024/01/25/i-make-too-much-money-what-are-some-ways-i-can-lower-my-tax-bill/

01/31/2024

Hey there! We know a lot of us have been spending due to Thanksgiving, Christmas, travel, and such. However, good news for all of us who remember to save for retirement. The IRS wants to remind our awesome low-and moderate-income friends that they can start saving for retirement now and maybe even score a special tax credit in 2024 and beyond! Read more here: https://gotaudited.com/2023/11/26/easy-money-coming-to-you-in-2024-with-savers-credit-%f0%9f%9a%80%f0%9f%92%b0%e2%9c%a8/