Tax season can be a stressful time for individuals and businesses alike. Dealing with the Internal Revenue Service (IRS) can be intimidating, especially when facing the possibility of an audit. It's crucial to be aware of your rights and protections as a taxpayer to ensure a fair and just process. In this blog post, we'll explore the rights and protections afforded to taxpayers and emphasize the importance of seeking the professional guidance of a Certified Public Accountant (CPA) when facing an IRS audit.
Starting a business involves making critical decisions that can have long-term implications, and one of the key considerations is choosing the right business structure. For entrepreneurs, understanding the tax implications of forming a C-Corporation (C-Corp) is essential. While C-Corps offer benefits such as liability protection and the ability to attract investors, there are also potential pitfalls, particularly when it comes to taxes.