ORP, OR LLC
R THE UNEXPECTED
if it isn’t counted as income, while incorporated business owners only have to declare the income.
If you are an entrepreneur, to avoid tax complications, consider additional tax planning to keep your business and personal tax obligations low and avoid surprises. You can time the purchase or sale of assets and maximize tax-advantaged deductions like retirement contributions to help. One strategy is to meet with a qualified tax service more than once throughout the year to stay on track and plan. If you have encountered surprise tax bills, don’t ignore the problem — meet
with our team at IRS Trouble Solvers today. We’ll work with you to identify your tax challenges, find all available options, and fix past issues as inexpensively as possible. Call today to make an appointment.
INGREDIENTS
CASE SNAPSHOT Client: 40-Year-Old Taxpayer Type of IRS Issue: IRS Error Tax Year in Question: 2014 IRS Claimed Liability: $64,720.16 Savings: $43,529.53
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1 1/2 lbs boneless skinless chicken thighs
2 tbsp olive oil
1 tsp cumin
1 tsp ground coriander
1 tsp turmeric
1/2 tsp garlic powder
1/2 tsp oregano
1/4 tsp cayenne pepper (optional)
1/2 tsp salt
Freshly ground black pepper
DIRECTIONS
While we expect them to get it right, there are times when the IRS gets it wrong. That’s why it’s paramount for us to thoroughly research our clients’ issues every time! In this scenario, our client was forced to liquidate his retirement accounts following a divorce. During this process, one of his retirement accounts was rolled over into another account, and the IRS issued a Substitute for Return (SFR) and did not take the rollover into account. Remember that if a client has an SFR issued, it is NEVER in their favor — most times, it will only reflect income with no deductions, credits, or costs considered. After thorough research and proper planning, we were able to properly file the original return and save the client $43,529.53! This was a savings of over 67%!
1. In a large bowl, add chicken, olive oil, cumin, coriander, turmeric, garlic powder, oregano, cayenne pepper (if desired), salt, and pepper. Toss together to coat chicken; let it marinate for 30 minutes to 1 hour. 2. Preheat grill to 400 F. Grill chicken thighs for 6–8 minutes per side or until fully cooked and an internal thermometer reads 165 F. 3. Transfer cooked chicken to a plate and cover with foil to keep warm, then chop into bite-size pieces to use in salads, tacos, bowls, and more!
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