Tax Accountants Andover MN

This page provides useful content and local businesses that can help with your search for Tax Accountants. You will find helpful, informative articles about Tax Accountants, including "What are My Options for Tax Debt Relief?" and "When Should You Hire a Tax Accountant?". You will also find local businesses that provide the products or services that you are looking for. Please scroll down to find the local resources in Andover, MN that will answer all of your questions about Tax Accountants.

Randall W Sayers
(651) 332-8725
3900 NORTHWOODS DR STE 250
SAINT PAUL, MN
Specialties
Estate Planning, Business, Trusts, Tax, Probate
Education
William Mitchell College of Law,William Mitchell College of Law,University of Notre Dame,Indiana Uni
State Licensing
Minnesota

Theodore Landwehr
(763) 781-7898
4034 7th Street NE
Columbia Heights, MN
Specialties
Wills, Trusts & Estates, Bankruptcy
Secondary Specialties
Living Wills, Guardianship, Business Succession Planning, Probate, Collections & Repossessions, Business Bankruptcy, Charitable Giving, Revocable Trust & Irrevocable Trust, Garnishments, Drafting Wills, Supplemental Needs Trust, Credit Disputes, Estate Planning, Creditor Harassment, Drafting Trusts, Charitable Trusts, Credit Repair, Credit Restoration, Debt Relief, Power of Attorney, Personal Bankruptcy, Foreclosures, Special Needs Trust, Chapter 7, Nolo Document Review, Estate Administration
Education
M.B.A., Carlson School of Management - University of Minnesota, 1997
State Licensing
Minnesota

Data Provided By:
Bruce N Crawford
(763) 545-2720
5101 OLSON MEM HWY STE 1000
GOLDEN VALLEY, MN
Specialties
Tax, Business, Corporate
Education
University of California, Hastings College of the Law,University of California - Berkeley
State Licensing
Minnesota

James Agosto
(877) 245-2098
1970 Oakcrest Ave
Roseville, MN
Specialties
Bankruptcy
Secondary Specialties
Credit Disputes, Chapter 13, Creditor Harassment, Chapter 11, Credit Repair, Garnishments, Personal Bankruptcy, Debt Relief, Collections & Repossessions, Credit Restoration
Education
Juris Doctor, University of Minnesota Law School, 2007
State Licensing
Minnesota.

Data Provided By:
Gregory Riordan Troy
1611 County Rd B W Ste 315
Roseville, MN
Specialties
Tax, Estate Planning, Adoption
Education
William Mitchell College of Law,Saint John's University
State Licensing
Minnesota

Leslie A Anderson
(763) 424-8811
8525 EDINBROOK XING STE 201
BROOKLYN PARK, MN
Specialties
Business, Tax, Real Estate, Estate Planning, Personal Injury
Education
William Mitchell College of Law,Minnesota State University, Moorhead
State Licensing
Minnesota

Paul Stephen Motin
(763) 241-9400
327 MAIN ST NW
ELK RIVER, MN
Specialties
Estate Planning, Probate, Real Estate, Tax, Business
Education
William Mitchell College of Law,William Mitchell College of Law,Winona State University
State Licensing
Minnesota

Robert A Lafleur
(612) 339-7300
17 Washington Av N #300
Minneapolis, MN
Specialties
Tax, Business, Estate Planning, Probate
Education
William Mitchell College of Law,Augsburg College
State Licensing
Minnesota

Brad C. Perri
(612) 940-1260
Saint Anthony Main
Minneapolis, MN
Specialties
Bankruptcy
Secondary Specialties
Business Bankruptcy, Chapter 13, Personal Bankruptcy, Chapter 7
Education
B.A., St. Mary's College (now University), 1994
State Licensing
Minnesota and Illinois (inactive).

Data Provided By:
Jordan Lindsay Martell
(612) 492-6087
50 S Sixth St #1500
Minneapolis, MN
Specialties
Tax, Insurance
State Licensing
Minnesota

Data Provided By:

What are My Options for Tax Debt Relief?

Tax_Debt_Relief

Tax debt is monies owed to the IRS originating from any current or past tax returns. Tax debt may include income tax owed combined with any accumulated interest and penalties. It is important to note that not paying your taxes can result in wage garnishments, levies, and long-term damage to your credit report.

There are many reasons why individuals may find themselves with a large amount of tax debt. The inability to pay tax debt may be the result of a layoff or extended periods of unemployment, illness, divorce, an accident, or the mismanagement of funds. Whatever the reason may be for your tax debt, you can find relief through several solutions or sources.

Short-term solutions for tax debt relief include: borrowing from a family member or a friend, selling any valuables for cash (or liquidating), taking out a short-term personal loan, or applying for an Offer in Compromise (OIC) through the IRS.

Applying for an Offer in Compromise

An OIC can provide relief for taxpayers who cannot pay their tax debt in full or if an installment agreement is not an option. An Offer in Compromise is an agreement between the IRS and a taxpayer that resolves the taxpayer’s debt. The fee for filing is $150, but in some cases the fee may be waived.

With an OIC, the IRS can choose to settle the taxpayers debt by accepting less than the full payment if there is: doubt as to liability, doubt as to collectibility, if the collection of the tax would create an economic hardship or if it would be unfair and inequitable. In order to apply for an OIC, taxpayers should fill out Form 656 (and possibly 656-L), available at Irs.gov . If you assistance, please contact an IRS collection representative at 1-800-829-1040, or preferably, a tax attorney or a certified public accountant (CPA).

There are several things to keep in mind when applying for an Offer in Compromise or when seeking assistance with the process. Obtaining approval for an Offer in Compromise is difficult, so if at all possible, think of a Plan B or revisit the list of short-term and long-term solutions to be absolutely sure that you have exhausted all possibilities.

IRS SIGN

When seeking assistance with applying for an OIC, it’s best to avoid services that use the following language “settle your tax debts for pennies on the dollar” through the Offer in Compromise Program. Instead, read through Publication 594 (The IRS Collection Process) and stick with trusted names in the industry. Publication 594 is available at Irs.gov or by calling 1-800-829-3676.

Long-Term and Permanent Solutions for Tax Debt Relief

A common long-term solution for tax debt relief is an IRS installment agreement. An IRS installment agreement, also called payment option, payment plan, and payment agreement is an agreement between the IRS and the taxpayer to make payments on taxes owed. You will be charged a fee, interest and penalties to start the installment agreement. Interest and penalties may be minimized of you are ab...

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When Should You Hire a Tax Accountant?

Mistake on Taxes

If you’re single with a regular job and you have few to no assets, using a tax software program like TurboTax or H&R Block At Home is probably the best way to prepare taxes. You can even prepare them yourself without the help of a tax software program if you have the time. On the other hand, if you have a business (small or large), assets such as real estate, dependents, investments, loans, and you make donations often, then you should consider hirin a tax accountant.

Tax accountants provide services to corporations and individuals. They complete complex tax returns, offer tax advice, and assess tax liability. A tax accountant can also help businesses figure out the best regions to set up shop in order to minimize tax liabilities, and they can even help choose certain products that can help businesses or individuals save money on taxes. Most tax accountants are certified public accountants (CPAs), so they are well versed in all state and federal tax laws.

When hiring a tax accountant, it is important to know the difference between a tax preparer and tax accountant. A tax preparer, such as an employee at an H&R Block, has taken income tax preparation courses and completed training through H&R Block. They are not licensed accountants and they don’t need a degree in accounting to work at H&R Block. Tax accountants, specifically CPAs, must satisfy a number of state requirements to sit for the CPA licensing exam. One major requirement is a degree in accounting from an accredited college or university.

Each state’s requirements vary slightly but in general, most state boards require no less than 150 semester credits with a specified number of accounting courses and business courses. To give you an idea of the level of difficulty of accredited accounting programs, less than half of the students accepted into a bachelor’s degree program in accounting will graduate.

Tax Accountant

So, the first thing to look for when hiring a tax accountant is a CPA license. It is illegal for anyone to use the CPA designation without a valid license. This means, if a tax accountant says he’s a CPA, he’s probably telling the truth. You can also verify whether a license is valid or not by doing a license lookup through your state board of accountancy website. You can locate your state board of accountancy by visiting the New York State Society of CPAs ( NYSSCPA ). Just scroll through the directory find your state.

The next thing to consider is how long a tax acco...

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