Do I Need to File a Tax Return for an LLC With No Activity?



Due to the bureaucracy in the process of closing a company, many entrepreneurs keep their businesses formalized, even if they are not working. Even though people sometimes imagine that having an LLC company will not result in tax return it actually might. Keeping an inactive company, however, does not exclude a series of obligations that must be carried out by the entrepreneur, under penalty of applying sanctions by the Internal Revenue Service. If you would like to act correctly and fast, make sure you contact, as they are used to dealing with LLC with no activity.

Want to know what are the accounting obligations of an inactive company? So check it out!

When do I consider my LLC business inactive?

A company is considered inactive as of the month in which it does not carry out any operational, … Read the rest....

Tax Refund Chart Can Help You Guess When You’ll Receive Your Money

Looking forward to your tax refund? Most people absolutely love to receive their refunds simply because it enables them to do a lot with it, even if it’s not thousands. Getting a refund can help at the best of times and there does seem to be more and more eligible for such things. However, how can you tell when you’ll actually receive your money? That’s a question that seems to have no answer but there might be a way to tell.

Use the Refund Chart

There is a tool called the tax refund chart and this basically enables you to guess when the money might appear at your door. That is not only going to be useful for those who may be thinking about borrowing money until the refund arrives but help to plan a few things also. Of … Read the rest....

9 ways to use your tax refund to get ahead

Tax return

Spending your tax return wisely will make you stick to your budget in blue and do not subject yourself to paying the high interest rate of the overdraft and special credit card. The important thing is to maintain a financial balance between how much you earn and how much you spend. This does not mean that you have to tie the entries and exits, it is always important that the money spent is less than the amount won.

With this leftover, you will be able to constitute an emergency reserve for the adverse moments of your life. In fact it is not with the surplus that you should constitute an emergency reserve or separate a value for the fulfillment of your dreams. If you would like some help on that you could also contact

Get to spend your tax

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Does Everyone Need to File an Income Tax Return?

The question of the tax return is very common and its answer is also very easy. It is not necessary for everyone to file an income tax return each year. There is no need to file it if the total income of a person is more than the standard deduction with one exemption and the person is not dependent on someone who is a taxpayer. The type of income and the person’s age with filling status plays very important role on filing a tax return.

Gross Income Threshold

The claim of standard deduction is for every taxpayer which is fixed by the government. It is fixed before the season of tax filling and it increases because of inflation in a country.

The calculation of income is very important in calculating income tax return. The return is not filed if the … Read the rest....

Do the Math: Understanding Your Tax Refund

When it comes to tax refund, there are some things that you should know about it in order to be able to do your calculations and to make sure that you know how much you are going to get from your refund. But, there are many people that are still unsure about tax refunds and they still don’t know how to get more money when they are receiving their taxes. Here are some information that you need to know about getting your tax refund:

Why do people get more tax refund than others?

The reason why people are getting more tax refund than others is because of the fact that they are able to get more tax deductibles than other people

Unfortunately not everyone qualifies for the same type of deductions from tax return. And, this is why some … Read the rest....

5 Most-Missed Tax Deductions and Credits

Squandering a tax deduction costs you cash, so don’t do it by neglecting to take each discount you arequalified for.

Here are seven tax deductions that are very not entirely obvious:

Capital loss carryover

If you had a pre-2015 capital misfortune from the offer of a venture that you could not utilize, you have a capital misfortune remainder. Keep in mind to use it this year. You can utilize the vestige to counterbalance any money picks up this year.

If the vestige is more noteworthy than your capital raises this year, or you had no additions, you can utilize something like $3,000 to counterbalance standard income.

Medical expenses you pay for a parent

In case you are supporting an elderly parent yet can’t assert him/her as anawardbecause the Guardian has gross income over $4,000 in 2015, you may even now … Read the rest....


Tax refund, tax return or tax rebate is the amount of money refunded by the government at the end of the year. Tax return feels like a new yearly present and makes your smile bigger if you get significant amount refunded. Do you know you have the authority to control how much tax will be refunded to you each year? Or should I say, you can get bigger tax refunds if you wish? Before we learn details about piling up your tax rebates; you should familiarize yourself with ways to get bigger refunds on your taxes.

Tips to save more money for your rebating:

  • When you are starting your job, you will be provided a W-4 form. The form will ask if you are single or have a family. The more people you have under your responsibility, the more
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Dealing with IRS Tax Debt

If you find yourself facing a tax debt to the IRS, it is important that you deal with it sooner rather than later. Just as with any other debt, the longer you wait the more it will pile up and the more difficult it will be to manage.

There are a number of options at your disposal when it comes to dealing with IRS tax debt. In general though, the first choice you’re going to have to make is whether you’re going to handle this by yourself or whether you’d like to have a professional help you out.

Regardless of which path you choose, the options that you have to deal with IRS tax debt are:

Installment Agreements

There are several different types of installment agreements that will allow you to pay off your IRS tax debt month by month … Read the rest....

Two of the biggest mistakes you can make when paying off credit card debt

Tapping into your home equity or your retirement account to pay off credit card or other unsecured debt is always a bad idea. It seems like more and more lenders and other financial services companies are encouraging you to do both. Don’t do it and here’s why:

Home Equity Loans to pay off credit card and other unsecured debt –

Sure, it’s advertised that using a home equity loan or line of credit is an easy way to get out of those “high interest rate” credit card debts. The logic is that the home equity line of credit or refinance loan (debt consolidation loan) interest rate is lower than the interest rates you would be currently paying on your credit cards. You save money. Great! The second rational is that the interest rates on the line of credit or home Read the rest....

What Exactly is an IRS Tax Attorney?

If you’ve never heard of an IRS tax attorney in the past then you’re undoubtedly wondering what on earth such a position entails. As you well know, the IRS is the government department that handles tax – but why would anyone need an attorney to deal with them?

Here’s the simple and unadulterated truth: If you are in debt to the IRS because of outstanding and unpaid taxes, an IRS tax attorney could help you out.

What Does an IRS Tax Attorney Really Do?

Essentially an IRS tax attorney acts on the behalf of their client to help negotiate a debt settlement with the IRS.

Unlike regular debt settlement with banks, credit card companies and other institutions, the IRS is a very different and very unique entity. It has its own types of settlements, and various options that allow and … Read the rest....