Raul Torres, CPA

It can be a difficult and confusing process to file your Foreign Bank and Financial Accounts Report (FBAR) accurately. Navigating the everchanging regulations can leave a U.S. taxpayer feeling overwhelmed – making your job less than stress free. Letting your accountant – like us – file your FBAR not only ensures that it is completed properly, but also is a convenient and strategic move on your part! https://bit.ly/48k6bpD

Remember, if the IRS needs to contact you, they will by mail first. If you receive any emails, calls, text messages, or DMs claiming to be the IRS stating you have an overdue tax or information about your tax refund, these are warning signs of fraud. If you do receive mail from the IRS, search their website for information on understanding your letter to verify if it is authentic. Be wary of anyone showing up to your home or business claiming to be from the IRS as they ended all unannounced visits in 2023. Contact the IRS to report anything you think is suspicious. Call us at (361) 854-0822 for more tax information.

With some incredibly impressive outcomes, we have assisted companies in optimizing and transforming their processes through our business consulting services - it is what we live and breathe! Our technology, approaches, and knowledgeable insights have been created based on the same problems that you encounter. Give us a call today at (361) 854-0822 to discuss your options.

A correspondence audit lets the taxpayer know additional documentation is needed to complete their return. The IRS might ask for receipts, bills, employment documents, canceled checks, legal papers, loan agreements, shareholder reports or even ticket stubs to substantiate specific items on your return. Be sure to respond according to the deadline in the letter or to request an extension to respond. Have more questions about audits and your particular tax requirements? Contact us at (361) 854-0822.

Because the world of tax laws, regulations, and financial responsibilities are difficult to navigate, the assistance of a tax attorney is an invaluable tool. Protecting your finances and ensuring that you are compliant with tax laws is essential if you have complex tax situations or if you are going through an IRS audit. https://bit.ly/3Tor0tL

Running your own business doesn’t come without its stressors unfortunately. However, there are ways that you can successfully manage your stress and have a healthy work-life balance in the process! Consider incorporating these helpful tricks into your routine and give us a call at (361) 854-0822 to set up a meeting to discuss how we can assist with the financial aspects of running a successful business. https://bit.ly/4cmnus1

If you want to claim parental tax breaks as soon as your child has been born, make sure to obtain a Social Security Number, an individual tax identification number, or an adoption tax identification number. The tax breaks you may be eligible for include the child tax credit and the tax credit for paying someone to take care of your child while you work. Want to learn more tax tips? Continue following our page or, better yet, contact us at (361) 854-0822.

For Social Security benefits, full retirement age is 67 for those born in 1960 or later. If you wait until full retirement age, you will receive your full benefits. However, should you start receiving your Social Security benefits early, your benefits will be reduced. For example, if you start taking benefits at 62 - the youngest aged allowed - your benefits will be reduced by 30%. Need help with your retirement plan? Schedule an appointment at (361) 854-0822 with us today!

Business financial audits don’t have to be scary! With careful planning and organizational preparation, the process will be smooth and successful. Remember – being proactive is your greatest asset! https://bit.ly/3UaEfQF