Category: Tax Preparation
![Set of cryptocurrencies with Bitcoin, Etherium, Ripple, Litecoin](https://torchlighttax.com/wp-content/uploads/2024/07/crypto.jpg)
Can You Deduct Your Crypto Losses as Fraud?
By Dave Horwedel, EA, and CEO of Torchlight Tax Yes. If you were the victim of fraud and can prove it. As an EA, my clients can sign form 2848 IRS Power of Attorney, and I can represent them before the IRS in the same way a tax attorney can. Under IRS rules, a fraud […]
Tax Preparation![Relaxed businessman working with a laptop](https://torchlighttax.com/wp-content/uploads/2024/05/happy-businessman-2-1000.jpg)
8 Simple Steps to Organize for Taxes and Improve Your Quality of Life
By Dave Horwedel, EA and CEO of Torchlight Tax. Tax filing can be a stressful time for many Americans. Here are eight simple steps to lower stress and save time and money. 1. Have a Stable Storage Space for Your Tax Documents “I have to get my documents together!” Does this statement sound familiar? We’ve […]
Tax Preparation![American beige luxury large house front exterior.](https://torchlighttax.com/wp-content/uploads/2024/05/home-business-event-deduction.jpg)
Save Thousands of Tax Dollars Renting Your Home to Your Business
By Dave Horwedel, EA Save Thousands of Tax Dollars Can you save several thousand tax dollars by renting your home to your business? Yes!! You must have a small business and a home and must be paying income tax!! Tax savings could range from a few thousand to $13,000, or even more. How It Works […]
Tax Preparation![Identity Theft](https://torchlighttax.com/wp-content/uploads/2024/04/tax-refund-thief.jpg)
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 Preparation![Story of TLT thumbnail 1000](https://torchlighttax.com/wp-content/uploads/2024/02/Story-of-TLT-thumbnail-1000.jpg)
The 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 Preparation![stopwatch](https://torchlighttax.com/wp-content/uploads/2024/01/stopwatch.jpg)
Taxes 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 Preparation![small business](https://torchlighttax.com/wp-content/uploads/2023/12/small-business.jpg)
Best 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 Preparation![confused girl](https://torchlighttax.com/wp-content/uploads/2023/12/confused-girl.jpg)
Things 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 Preparation![scammer](https://torchlighttax.com/wp-content/uploads/2023/12/scammer.jpg)
How 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 Preparation![tax prep 3](https://torchlighttax.com/wp-content/uploads/2023/11/tax-prep-3.jpg)
Tax 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 Preparation