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The Risk of Using A Shady Tax Preparer
Nobody wants to pay taxes, but unless you want to face legal repercussions you will have to. The inevitability of taxes (and death) does not prohibit you from seeking out ways to minimize your overall tax bill to whatever extent possible. While many people have very...

What is an IRS Levy?
ACS (Automated Collection System) is the automated part of the collection apparatus of the IRS that handles the majority of tax collection cases. ACS relies on mailed notices to generate taxpayer contact and will issue notices of intent to place liens and levies...

Why Is the IRS Contacting You?
We all cringe when thinking of that dreaded “Notice” letter from the IRS. No urgency to worry yourself though, stay calm and understand that the analysis is a professional procedure that may be resolved by simply having the appropriate, professional representation,...

Best Tax Services in Garland for 2019!
Bilsky Financial Group, Inc, is featured on Expertise.com's list of the Best Tax Services in Garland for 2019!

Will the IRS really Garnish your Wages?
The Internal Revenue Service (IRS) is serious business. And if you owe taxes, the IRS can collect by garnishing your wages. The money will come out of your pay until the debt is paid in full or you manage to stop the garnishment. Difference Between IRS and Other...

What is the offer in compromise program?
Do you have an unpaid tax debt with the Internal Revenue Service (IRS)? I've got some great news for you! When it comes to issues on resolving your tax obligations and settling debts that you owe "Uncle Sam" you do not have to get stressed up. With the services of...

Is it a Hobby or Business?
If you have a fledgling or small sideline that you want to be able to call a “business” for IRS taxes, it is important to know what distinguishes a business from a hobby. A hobby may not give you deductions on your personal federal income tax return if you are perhaps...

Summer job, will my child have to file taxes?
Will My Child Need To File Taxes After Summer Employment? If there is one thing teenagers have in common, it’s the desire to become independent. Teenagers eagerly await turning 16 so that they can obtain their driver’s license. Naturally, they may also want a car of...

What is a Solar Tax Credit for a Business and Residential?
Solar panels are an incredible way to decrease the prices that are associated with running a business. While energy costs are going to go down as a result of installing solar panels, you can generally expect there to be quite a large initial monetary investment. The...

What is a Fuel Tax Credit?
Taxes can be complicated and while we all wish we were able to do our taxes on our own, sometimes this just isn't feasible. It is especially important to ensure that your taxes are done by a certified professional when you file a more complicated type of return. The...

What Are Qualified Educational Expenses?
What Are Qualified Educational Expenses? Qualified education expenses are amounts paid for tuition, fees and other related expenses for an eligible student. There are different qualified educational expenses depending upon the level of schooling the student is at....

Do you have a job, assets or investments outside the United States?
US citizens abroad that may have not realized that they needed to report their foreign bank accounts and other assets to the IRS can still gain compliance. Foreign noncompliance is an important issue that the IRS is always watching over. The Offshore Voluntary...

Top 5 2018 Tax Changes for Individuals
Top 5 2018 Tax Changes for Individuals Now that tax season has finished, it is important for individuals to start to plan and know how their taxes will change going forward. The new tax bill that was signed changes many aspects for many Americans. This article will...

Bankruptcy: When to File and Start Fresh
Usually one thought comes to almost everyone’s minds when they hear the word “bankruptcy” and it’s usually nothing welcoming or positive. Unfortunately, there is an extremely negative stigma surrounding the process and people tend to view it as a personal failure....

What Are My Chances of Getting Audited? 11 Tips For North Dallas Small Businesses
On March 15th, 2018, Subchapter S Corporation (S-corps, for short), have their tax returns due. We're already on top of things for our North Dallas clients, but this is a quick reminder to you to make sure that we've communicated, and that your books don't contain any...

How Much Do I Owe The IRS? Teresa Bilsky Can Help You Get Information From The IRS Discreetly
There is a lot of fear and angst in our culture these days. Sparked by tragic current events, as well as a general sense of disjointedness in our culture. But for many who might be reading this, there is another one that might be lurking latent beneath these other...

A North Dallas Business Owner’s Simple Plan For Dealing With Angry Customers
Even in the middle of the intensity of the busy tax filing season in North Dallas, we occasionally become the target for somebody's frustration. Over the years, and especially when things are busy and stressful, we've had to learn about how to best handle matters when...

Special Business Knowledge And North Dallas Business Success
Yes, there's plenty to say about that Super Bowl, the advertisements (apparently, they're all Tide ads), the halftime show, etc. But I'll let others weigh in there. I'm a tax professional after all. Congratulations Eagles fans, etc. Here at Bilsky Financial Group,...

Teresa Bilsky’s Seven Negative Results And Five Painful Consequences For Unfiled Tax Returns
The IRS just began receiving tax returns this week, and we are cranking and grooving along, finding all kinds of savings on behalf of our North Dallas clients ... as well as chomping at the bit to help them on THIS year's taxes. Truly, the more I take a look at this...

The Most Important Factor in North Dallas Small Business Valuation
I've heard from many of my North Dallas business owner contacts over these last few months, thanking me for the notes that we put together, sending thoughts and questions -- and letting me know that they've sent their friends to see us for their business and family...

Three More Questions To Consider in 2018 For Your North Dallas Small Business Plan
We are in that "calm before the storm" period before busy season begins in earnest for us, and it's a great time for us -- and for you, in my opinion -- to take stock. As we prepare for the increased activity and communication level that always comes this time of...

3 Important Questions For North Dallas Small Business Owners To Answer In 2018
Now that we are into the first full work week of 2018, how are you feeling about your direction? We're here, and we're in your corner. I'd love a note from you about what you are hoping to accomplish during this year, and how we can be a resource to you as you do. As...

Key Performance Indicators (KPI’s) for Your North Dallas Business Work Goals in 2018
Happy New Year! It's time to turn the page... If you've been paying attention, I've been diving pretty deep into the new tax regime under which we are NOW operating. What will be interesting to see is the *actual* technical guidance from the IRS about all of these...

2017 Year-End Tax Strategies for North Dallas Business Owners With Tax Reform In Mind
The holidays are funny for North Dallas business owners. And, I must tell you, especially so for tax professionals like me. Every year, Congress delivers updates to the tax code, seemingly at the very last minute, so my staff and I are often working over the holidays...

2018 Tax Reform Update And A Holiday Prayer from Teresa
Unless something crazy happens this week, we have a new tax plan. If Congress-watchers are right, the House and Senate should vote to pass this new bill, and it will be signed by President Trump before Christmas. I'm writing this on Monday the 18th (a busy week is...

Increase Profits For Your North Dallas Business With Effective Compensation Strategies
We're still waiting on Congress to reconcile the different tax reform plans passed by the House and the Senate, but we do know a couple things. First, it looks pretty certain that you're not going to be able to deduct your state and local income taxes in 2018. Both...

Build A Brand In North Dallas And Do It Well
As I write this, the Senate has passed their version of the tax reform bill, and now we wait for the final version of the bill. But here's the big number: Four weeks. Apparently, Congress thinks it can enact a dramatic overhaul of the law, adding substantial new...

Get Stuff Done With Bilsky’s Productivity Tactics
It's Cyber Monday, and as is my habit, this strategy note is being composed early in the week. Plenty to do this week, and gotta get ahead, after all. Did your North Dallas business run a sale for the holidays, or Cyber Monday or Black Friday? If not, you may have...

Thanksgiving Week Reflections From A North Dallas Business Owner
It's a slower week, here in Bilsky Financial Group, Inc World. Yes, it's crazy (and a bit of a relief, to be frank) that we now find ourselves in Thanksgiving week. And I have some thoughts, which are perhaps a bit more meditative than normal, because of how this...

5 Effective Marketing Tips For Your North Dallas Small Business
Have you noticed that traditional styles of advertising are getting more and more stale? That's because the online world has torn down so many different barriers that we don't realize how much has changed, until we take a look at the real numbers. And across many...

North Dallas Non-Profits Taxes – 10 Important Year-End Steps
We deal with all kinds of businesses and organizations around here at Team Bilsky Financial Group, Inc. And while I often address "for profit" organizations with these notes, many of those same strategies (cost controls, marketing, growth, management) apply equally to...

The Billionaire Mindset by Teresa Bilsky
More than being only bean counters or tax strategists for our North Dallas clients, we make it a point to study what works well for our most successful clients, and (with all confidentiality) pass along principles we've seen work in various businesses. On top of that,...

Business Succession Planning Essentials by Teresa Bilsky
The final quarter is a great time to take a look at where things have gone for your North Dallas business, and that's perhaps an obvious point. But now (before the holidays really hit), it might also be an even better time to take stock of where you are headed LONG...

Know the Value of Your Time: A North Dallas Entrepreneur’s Guide
Is there an additional way that we can serve your North Dallas business? Please shoot me an email using the button at the top of this page and let me know what's happening in your business, and what seem to be your greatest needs right now. I'd love to speak into it...

Effective Advertising: How To Find It In North Dallas
As you may or may not already know, this is the final week before extended tax returns are due (Monday, October 16th is the due date this year), so we are working hard here in our North Dallas offices with those clients who placed an extension on their filing, to make...

Ask For The Sale! North Dallas Business Owners Sales Psychology
I make it my goal in these weekly notes to pass along information which has proven useful to our firm and our more successful clients. I do this because we want to be a partner with you in helping you grow your North Dallas business. We're not marketing "gurus" around...

North Dallas Small Business Debt Collection
How are things going for you? Is there something we can do to help your business during this final quarter of 2017? Do let me know. One nice way to make your quarter better is to get an infusion of cash. However, this is too often a rare occurrence. Too many North...

A Story, and Tax Planning 2017 for North Dallas Businesses
Story time today. Here we are, with Q3 of 2017 in the rearview mirror, and it's amazing how quickly things move. (And, by the way, this reminds me: have you considered making further pro-active moves to minimize your taxes for this year? With a few months left in the...