Owning and operating a successful business can be one of the most fulfilling things one can achieve. You set your own hours, you’re your own boss, and best of all you’re building an asset for yourself. Starting a business though does not come without its challenges. The last thing a business owner wants after they have alleviated themselves of the initial stress of opening a business is to then deal with the stress of having tax issues. At Spaulding Legal APC we have seen countless cases where clients have become victims of tax issues based on specific things that were not put in place during the initial start up. Fortunately, there are steps that can be taken to avoid incurring tax issues after starting the business. In this blog, we will discuss the top seven components a new business owner should have to protect their business for the long haul.

It is hard to imagine someone missing out on claiming a refund that is owed to them. After all, that is money that could be used to offset bills, pay for education, or save for retirement. However, from time to time, taxpayers fail to file a tax return for one reason or another. For the most part, the taxpayer can still get the refund so long as they file a return within three years. But, what happens if you don’t? Unfortunately, for most taxpayers the refund is barred after three years. But for a few, there may still be some hope. In this article, we will explore the meaning of “Financial Disability” and how taxpayers may still be able to get a refund that falls beyond the three year mark.

There are only two things certain in life, death and taxes. Though most people have probably heard this several times before, there is still a great misunderstanding of how our tax brackets work. So, it seems only fitting to clear up any misconceptions about one of the two certainties in life.