">

The Biggest Misconception about the ERC

There is a common misunderstanding among taxpayers and inadequately trained tax professionals. They think the IRS gives…

">

How Does the ERC “Partial Shutdown” Test Work?

If you do not qualify for the ERC by the Gross Receipts Test, there is a second independent test that you take.

">

Our Complete ERC Process

At Torchlight Tax, the steps in ERC application and delivery are seven-fold.

">

Should I Get a Reverse Mortgage???

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.”

">

How to Minimize the Tax Hit on a Home Sale

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.

">

Employee Retention Credit for Plumbing and HVAC Firms – Do you Qualify or Not?

Getting an ERC, if you truly  qualify, can be a huge boon for you and your business. There can be a lot of money involved.

">

Employee Retention Credit for Construction and Real Estate Development Firms-Do you Qualify or Not???

Getting an ERC, if you truly qualify, can be a huge boon for you and your business. There can be a lot of money involved here.

">

How to Minimize Audit Risk!!!

Taxpayers are terrified of audits. This is understandable. They can be a lot of hassle. However, if your tax

">

Taxpayer Bill of Rights 4: Your Right to Challenge the IRS’s Position and Be Heard

You have a right to disagree with the IRS. Sometimes, the IRS makes mistakes, and you can take a different..

">

The Taxpayer Bill of Rights 3: Your Right to Pay the Correct Amount of Tax

You have a fundamental right with the Internal Revenue Service, The Right to Pay No More than the Correct Amount of Tax.

">

Taxpayer Bill of Rights 2: The Right to Quality Service

Have you experienced the frustration and disappointment of encountering bad service when dealing with the IRS?

">

Taxpayer Bill of Rights 10: Ensuring a Fair and Just Tax System

Taxpayers have a RIGHT to be treated fairly by the IRS. This can be useful in asking for managerial assistance, an appeal to..

">

Taxpayer Bill of Rights 9: Your Right to Retain Representation

You have the right to choose an authorized representative of your choice to act on your behalf in your dealings with the IRS.

">

Taxpayer Bill of Rights 8: Your Right to Confidentiality

Taxpayers are sometimes worried that the IRS may use their confidential tax data improperly to their detriment.

">

Taxpayer Bill of Rights 5: Your Right to Appeal an IRS Decision in an Independent Forum

This right entitles you to a fair and impartial administrative appeal of most…

">

The Taxpayer Bill of Rights 7: Your Right to Privacy

You as a taxpayer have the Right to Privacy in dealing with the IRS. The article below, quoted directly…

">

Taxpayer Bill of Rights 1: The Right to Be Informed

It is good reading for all taxpayers. Knowing what the IRS must inform you of, and letting them know when…

">

Knowing Your Taxpayer Rights Can Save Your @#$%&!

What many taxpayers do not know is they have rights. These rights keep the power of IRS Goliath in check–if they are…

">

Payroll Taxes Can Save Tax Dollars/Create Refunds

The world changes.  For many years, employers saved dollars by employing contractors. This is still a good….

">

Can You Deduct a Hobby?

You cannot deduct hobby expenses. But you can deduct business expenses. Many businesses started as hobbies. Many hobbyists, who turned their…

">

9 Current Tax Tips from the Carnivore’s Mouth

The fact is the IRS has sent out a bunch of tax tips that they consider worthwhile, and they are pretty good.

">

Tax Exempt Organizations Filing Deadline: May 15th

Tax-exempt organizations have certain returns they have to file in order to maintain their Tax-Exempt status.

">

401Ks – Roth versus Traditional

Below is an overview of both types and their tax implications, so you can make an informed decision. A traditional 401(k) allows you to set..

">

What to do if you missed the tax deadline

If you missed the deadline but filed an extension you’re probably in pretty good shape, as you avoided..

">

If you missed the tax deadline, these tips can help

The tax filing deadline has come and gone. If you didn’t file a tax return or an extension…

">

7 Tax Tips to Lower Stress & Save Money

Tax season can be a stressful time for many Americans, but it doesn’t have to be. Here are some tips to simplify the..

">

The Definitive Guide to the Employee Retention Credit

In maximizing ERC, one needs to make sure that all eligible employees are ….

">

Get Ready for Your COVID-19 IRS Audit

Just like in the castles of old, you wanted your castle ready before the enemy …

">

IRS Warning on the Employee Retention Credit

The IRS has issued a warning about improper Employee Retention Credit…

">

IRS Audit Defense

Your worst fear has occurred. The IRS is auditing you. Whether it is…

">

How to Deal With Unfiled Tax Returns

One of the most common tax problems is unfiled tax returns….

">

Unconfrontable Tax Debt

This is a common situation. For whatever reason, your IRS…

">

What If the IRS Is Threatening A Wage Or Bank Levy?

This requires a fast handling before your wage check shrinks…

">

Save Tax Dollars and Hassle by Acting NOW Before 2023 Tax Season

For many people, especially small business people, taxes…

">

IRS Statute of Limitations

YES! There is one. There is a point beyond which IRS can no…

">

What to Do if You get a Letter from the IRS

Yes, it can be upsetting to receive a notice from the IRS. But the….

">

How to File an Amended Tax Return

Of course we all want the original return to be perfect. But sometimes…

">

Start Planning Now for Next Year’s Taxes

You may be tempted to forget about your taxes once you’ve filed your…

">

How to File Overdue Returns Without Raising a Red Flag

I have heard many taxpayers or potential taxpayers say something like…

">

What Is IRS Representation?

Hi. I’m Bruce Roth and my guest today is Dave Horwedel….

">

Best Business Structure for Taxes

Hi, my name is Bruce Roth, and my guest today is Dave Horwedel….

">

Torchlight Tax is Hiring

Torchlight Tax is expanding and we are hiring now and for the…

">

Employee Retention Credit: Benefits versus Risk.

There is a lot of false data out there about the Employee Retention Credit…

">

Get a Free Video

I want to create a free promotional video interview to promote you…

">

The Hidden Costs of Payroll and Bookkeeping

The visible costs of Payroll and Bookkeeping can be truly …

">

What is an Enrolled Agent & Do I need one?

An enrolled agent (or EA) is a federally authorized tax practitioner…

">

How to File an Amended Tax Return

Of course we all want the original return to be perfect. But…

">

What is The Self-Employment Tax?

An enrolled agent (or EA) is a federally authorized tax …

">

Is the Obamacare Tax Penalty Dead?

As a practical matter the Affordable Care Tax Penalty…

Do You Want To Pay Less Tax?