TaxCure Blog

If you think that you can get away with not paying taxes that you owe the IRS, think again. Very few people ever get out of paying tax unpaid taxes, and when they do, it is usually because they have successfully proven that they honestly are unable to pay their unpaid taxes now and most likely will never have the funds to pay it in the future.

One of the best ways to prepare your year-end finances for optimal tax efficiency is to sell some of your investments at a loss in order to offset capital gains or to offset some of your income. Your investment losses can offset your capital gains, plus offset up to $3,000 in income. (Any extra losses can be carried forward indefinitely.) As a result, if you don’t mind locking in a loss, you can sell a losing investment and use it to offset your income.

Sometimes, travel is necessary in order to improve your business. The good news is that the IRS allows you to deduct many of the expenses that come with your business-related travel.

Running a dental practice takes a lot of time and effort, but it also takes money. Fortunately, there are tax benefits for dentists that help to offset these costs.

Tax evasion is often seen as a white-collar crime, with the main targets being high-profile individuals like celebrities. It carries severe consequences for anyone caught. In this day and age with technology being better than ever, it is more than likely individuals will be caught if committing tax crimes. The punishment for evading taxes ranges from hefty fines to jail time. While many think these punishments are reserved for celebrities or high profile criminals, the reality is that the IRS is relentless when it comes to pursuing tax evasion.