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Author: Tatiana Loughman, EA

Tax Services Solve Tax Problems. > Articles posted by Tatiana Loughman, EA

Tax-saving Advisors?


There are many instances where tax-saving advisors go to prison for their advises and leave their customers with unresolved IRS debt. US Tax Court recently posted Order of Service of Transcript Adalius ThomasPetitionerv.Commissioner of Internal RevenueRespondent (6/16/2021) What is this case showing? Many things, of course, but what was significant to me personally is that ...

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Tax Problems?

An Enrolled Agent will take care of your IRS problems for you.If you received a letter from the IRS, it is recommended that you contact a tax lawyer, an enrolled agent, or a CPA right away. What is the difference between a tax lawyer (IRS lawyer) and an enrolled agent? A tax lawyer can take care of your tax court issues. An enrolled agent takes care of your IRS problems and tax problems on the IRS level. Tax problems don’t go away on their own. In fact, they get worse if ignored. “Tax lawyer near me” is a good google...

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Trading Options.

Options Trading

Investment Strategy. Options. Important. This post is NOT investment advice. Investments in Etrade options are NOT FDIC-insured and may lose value all the way to $0. Buying puts/shorting a stock has severe or unlimited risks.  Day trading option has very big leverage and serious potential to profit (or to lose money). One of my favorite strategies is to buy puts where there is a gap that shows a price decrease. Why? Gaps tend to fill the same day.You are betting on a price decrease.A price decrease will increase volatility and time value. This means you have to worry a little bit less about your options...

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Filing Taxes For 2020


What's new in 2020 tax? Let's recap 2020 deductions from adjusted gross income: jury duty199A deductioncapital lossesunemployment benefits repaymentsforeign housing (limitations applies)unreimbursed travel expenses (National Guards and Reserve members)certain attorney feesunreimbursed employee expensesself-employment medical insurancecertain moving expenses (limitations apply)50% SE taxnow you can deduct alimony and maintenance payments (comparing to 2019)contribution to retirement accounts and/or HSAhigher education expenses deductionseducator expenses Tax brackets are: 10%, 12%, 22%, 24%, 32%, 35%, 37 % Child unearned income is continued being taxed at $0 < $1,100 =0%$1,100 <$2,200 = the child's tax rate$2,200 < at the parents' tax rate Community property states are AZ, CA, ID, LA, NV, NM, TX, WA,...

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I’m Being Audited.


You can be audited by: -mail,-you visiting an IRS office,-the IRS visits your office. What are your options: you can agree with the audit opinionrespond with a written protest (file an Appeal)https://www.irs.gov/appeals/preparing-a-request-for-appeals More information about the appeal request You may submit a Small Case Request if the entire amount of additional tax and penalty proposed for each tax period is $25,000 or less. Form 12203, Request for Appeals Review request a Fast Track Settlement https://www.irs.gov/pub/irs-pdf/f14017.pdf If the Fast Track Settlement fails the taxpayer still has a right to go to Appeals.https://www.irsvideos.gov/Business/audits/FastTrackSettlement Wait for the 90-day letter.File CDP hearing or Collection Appeal Request. Form 12153 or form...

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