Category: Tax Preparation
Do I Need an IRS Identity Protection Personal Identification Number (an IP PIN)?
by Dave Horwedel, EA The IRS is offering an IP PIN to taxpayers who request them. If you are concerned that someone may steal your refund or file something incorrect with the IRS under your name or Social Security Number, this offers an extra layer of protection. In prior years only taxpayers who had been the victims of Identity theft could apply. […]
Tax PreparationThe Story of Torchlight Tax
Hi. This is Dave Horwedel. I am an Enrolled Agent, EA, the highest federal tax credential, and the founder of Torchlight and Guard Dog Tax. I would like to introduce you to my firm. I apprenticed at another EA/CPA firm before starting my own practice in 2015 in Las Vegas. I started my firm working […]
Employee Retention Credit, IRS Representation, Tax PreparationTaxes in Under a Minute by Torchlight Tax
by Dave Horwedel Learn to Maximize your deductions. Maximize your tax credits. Employee Retention Credit, R&D credit, child tax credit, earned income credit, solar tax credit. Maximize your assets while minimizing your taxable income. Create future income and assets by deducting expenses that create future income and assets. Defer taxes using 1031 exchanges and other […]
Tax PreparationBest Small Business Tax Structure
By Dave Horwedel, EA There is a C-Corporation which is the major corporations like those you see on the stock market. C-Corporations have stockholders, and they can make a lot of money. They have corporate meetings and boards of directors’ meetings and so on. They pay 21 % corporate income tax on the profits that […]
Tax PreparationThings You Need to Know Before You File
By Dave Horwedel, EA When people do not understand tax basics, or they do not keep up with changes in tax law and regulations, they can get into a lot of unnecessary trouble. The purpose of this article is to save you time and money. my firm we utilize the services of EAs, Accountants, CPAs, […]
Tax PreparationHow to Spot a Tax Scammer
By Dave Horwedel, EA I routinely get called by worried taxpayers who have been called by tax scammers. If you are worried that you might be getting called by a tax scammer, you are welcome to call me at 1-877-758-7797. I will be glad to help you. There is a basic point that makes you vulnerable […]
Tax PreparationTax Tips: Things You Need to Know Before You File
By Dave Horwedel,EA There are things you need to know before you file your tax return. When people do not understand tax basics, or they do not keep up with changes in tax law and regulations, they can get into a lot of unnecessary trouble. The purpose of this article is to save you time […]
Tax Preparation2022 Taxes Are Done: Now What???
By Dave Horwedel, EA Most people have now filed their 2022 taxes, and if not, they are officially late. There may be a few exceptions to being late. For example: If you are in a federally declared disaster area or If you are on a non-calendar year basis If you filed your taxes and were […]
Tax PreparationShould I Get a Reverse Mortgage???
by Dave Horwedel, EA A Story I knew a lady in her late 60s who was in good health and frustrated she could not do what she wanted to do in her “golden years.” She had worked hard all her life, mainly as a salesperson, and was still working in her own business, selling at […]
Tax Blog, Tax PreparationHow to Minimize the Tax Hit on a Home Sale
by Dave Horwedel, EA Minimizing Tax on Sale of a Home If you’re looking to sell your home, you should take a close look at the exclusion rules and cost basis of your home to reduce your taxable gain on the sale. You are welcome to contact Torchlight Tax if you would like our assistance […]
Tax Blog, Tax Preparation