Growing Your Business
Growing Your Business: Strategies for Success Expanding a business requires careful planning, smart decision-making, and a strong financial foundation. Whether you’re a startup or an established company looking to scale, here are key strategies to fuel your business growth. 1. Strengthen Your Financial Foundation A solid financial base is essential for growth. This includes: Maintaining […]
CPS Accountant or Bookkeeper
CPS Accountant vs. Bookkeeper: Understanding the Difference When managing business finances, both accountants and bookkeepers play crucial roles. However, their responsibilities differ significantly. Understanding these differences can help you decide which professional best suits your needs. What Does a CPS Accountant Do? A Certified Public Accountant (CPA) is a licensed professional who offers a broad […]
IRS Notices Forms and Letters
IRS Notices, Forms, and Letters: Understanding What They Mean The IRS sends different types of notices, forms, and letters to taxpayers for various reasons, such as requesting additional information, notifying about tax liabilities, or confirming changes to tax filings. Understanding these communications is crucial to responding correctly and avoiding penalties. Common IRS Notices and What […]
Securing Business Loans
Securing Business Loans Why Business Loans Matter Whether you’re launching a new venture or expanding an existing business, securing a loan can provide the financial support needed for growth, stability, and success. A well-structured loan can help with working capital, purchasing equipment, hiring staff, or scaling operations. Types of Business Loans Understanding the different loan […]
Audit Representation
Understanding IRS Audits An IRS audit is a review of your tax filings to ensure accuracy and compliance with tax laws. The process can be overwhelming, but with the right representation, you can navigate it smoothly while protecting your financial interests. Why Audit Representation Matters When facing an IRS audit, having a tax professional on […]
Business Tax Preparation
Add Your Heading Text Here Preparing business taxes can be overwhelming, but with the right approach, you can ensure accuracy, minimize tax liabilities, and avoid penalties. Whether you run a small business, LLC, partnership, or corporation, proper tax preparation is essential to maintaining compliance with the IRS (Internal Revenue Service) and optimizing your deductions. Step-by-Step […]
IRS Tax Notices
IRS Tax Notices Receiving a tax notice from the Internal Revenue Service (IRS) can be stressful, but understanding the reason behind it and knowing how to respond can make the process much easier. The IRS sends out notices for various reasons, and in most cases, they require simple actions to resolve the issue. Why Did […]
Bank Levy
Bank Levies – Tax Levy or Wage Levy Have you received a Notice and Demand, Notice of Intent to Levy, or Notice of a right to a Collection Due Process Hearing? If so, you are in the process of losing funds directly from your bank account. Specific IRS protocols must be followed, however, if successful, […]
Tax News
Chicago, IL
Expert Tax and Financial Services in Chicago, IL At LegacyTax and Resolutions, we specialize in providing top-tier tax, accounting, and financial resolution services for individuals and businesses in Chicago, IL. Our team is committed to delivering customized financial solutions to meet your needs. Our Services in Chicago, IL 1. Tax Preparation & Filing We offer […]