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Tax Geaks
Aug 22, 20232 min read
The Impact of Legal Settlements on Tax Liability
Legal settlements can be a windfall for plaintiffs, a necessary expense for defendants, and a significant achievement for attorneys. Howeve
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Tax Geaks
Aug 22, 20232 min read
Navigating Legal Entity Selection: The Tax Benefits & Drawbacks for Attorneys
For attorneys setting up a practice, one of the first and most critical decisions to make is selecting the right legal entity. This decision
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Tax Geaks
Aug 22, 20232 min read
Tax Implications for Law Firms: A Comprehensive Guide
The realm of law is often regarded as an intricate maze, with multiple facets and intricate details, and the tax landscape for law firms
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Tax Geaks
Aug 18, 20233 min read
Common Tax Mistakes to Avoid: Tips for Individuals and Businesses
Introduction: Tax season can be a stressful time for individuals and businesses alike. Making errors on your tax return can lead to...
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Tax Geaks
Aug 4, 20232 min read
Accounting Ethics: Maintaining Integrity in Financial Reporting
Introduction: Ethics are of utmost importance in the field of accounting, as they ensure the accuracy, transparency, and integrity of...
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Tax Geaks
Aug 3, 20232 min read
Tax Filing for Tenants in Common (TIC) Businesses in Real Estate: A Comprehensive Guide
In real estate, tenants in common (TIC) is a popular ownership arrangement where multiple businesses co-own a property together.
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Tax Geaks
Jul 28, 20232 min read
Tax Planning Strategies for Individuals: Minimizing Your Tax Liability
Introduction: Paying taxes is an inevitable part of life, but individuals have the opportunity to minimize their tax liability through...
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Tax Geaks
Jul 14, 20232 min read
The Importance of Accurate Bookkeeping for Small Businesses
Introduction: Accurate bookkeeping is the backbone of financial management for small businesses. It involves recording and organizing...
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Tax Geaks
Jul 6, 20232 min read
Does My Will or Trust Have to be Filed in Court? Understanding Legal Procedures
When dealing with estate planning, a common question that arises is: "Does my will or trust have to be filed in court?"
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Tax Geaks
Jul 6, 20232 min read
Understanding the Interplay between Gift Tax and Trusts
When it comes to estate planning, the concepts of gift tax and trusts are often intertwined. But what exactly are these concepts and how do
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Tax Geaks
Jul 6, 20232 min read
Filing Form 1041: A Step-by-Step Guide for Estate Income Taxes
The loss of a loved one comes with a range of emotions and challenges. Among the practical responsibilities you may face is the filing of
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Tax Geaks
Jul 6, 20232 min read
Filing Form 706: A Step-by-Step Guide for Estates
Losing a loved one is a difficult and emotional journey. As you navigate through this challenging time, you may be required to handle
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Tax Geaks
Jul 6, 20232 min read
Navigating the Probate Process: What to Do When a Parent Dies Without a Will
When a parent passes away without a will, it can add to the confusion and emotional turmoil already associated with the loss. Known as dying
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Tax Geaks
Jul 6, 20232 min read
Navigating Tax Preparation after a Parent's Death: Estate Taxes and Final Tax Returns
Losing a parent is an emotionally challenging time, and the administrative tasks that follow can be equally daunting. One of these tasks is
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Tax Geaks
Jul 6, 20232 min read
Navigating the Probate Process: Steps to Take When a Parent Dies Without a Trust
Losing a parent is one of life's most challenging experiences. This emotional hardship can become even more difficult when faced with the...
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Tax Geaks
Jul 6, 20232 min read
Crummey Trust vs. Regular Trust: Understanding the Differences
When it comes to estate planning, trusts are an integral tool that can offer a multitude of benefits. Among various types of trusts, two....
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Tax Geaks
Jul 6, 20232 min read
Crummey Trust: A Strategic Tool for Estate Planning
Navigating the intricacies of estate planning can be a complex process. A vital tool that can provide significant advantages is the Crummey
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Tax Geaks
Jul 6, 20232 min read
Navigating the Tax Implications of a Trust: A Comprehensive Guide
When it comes to wealth management and estate planning, creating a trust is a strategy that offers numerous benefits. However, it's...
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Tax Geaks
Jul 6, 20233 min read
How To Create A Trust: A Comprehensive Guide
Setting up a trust can be a potent tool for wealth management, ensuring your assets are managed and distributed according to your ...
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Tax Geaks
Jul 5, 20232 min read
Understanding Your Options for Settling #IRSTaxDebt from the Last Decade
#IRStaxdebt #TaxRelief #InstallmentAgreement #OfferInCompromise #CNCStatus #PenaltyAbatement #Bankruptcy #debtmanagement Burdened with...
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