Facing an IRS audit can be daunting. However, understanding the common triggers can help you avoid unnecessary scrutiny. There are several reasons why the IRS might choose to audit your tax return, ranging from simple mistakes to suspicious activity. By being aware of...
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3 areas of your estate plan to revisit amid divorce
Divorce marks a significant life transition. As a result, it demands attention to various aspects, including the often-overlooked realm of estate planning. As you navigate the complexities of separation, it becomes important to reassess and update key components of...
Co-parenting plan concerns
Divorce comes with many complexities, and spouses must make many adjustments once the marriage legally dissolves. Not all divorces end with the spouses going entirely their separate ways, as those with children will rely on a co-parenting plan. Such plans require...
Removing the mystery of tax audits
When the IRS notifies Pennsylvania residents that their taxes will get audited, it can cause a nerve-racking feeling. However, understanding the tax audit process can make it seem less scary for many people. There are some things that people could benefit from knowing...
Establishing cooperation in a difficult co-parenting situation
When Pennsylvania couples go through a divorce, the relationship doesn't always stay amicable. However, when that couple has children, both parties typically realize that it’s important to work together for the good of their kids. There are some basic steps that you...
What is a Pennsylvania breach of contract?
A Pennsylvania breach of contract occurs when someone fails to honor a legally binding agreement that they signed. The purpose of a contract is to establish the conditions and terms of a business agreement. The assumption is that all parties involved will uphold their...
Why dividends are subject to double taxation
Companies in Pennsylvania and throughout the United States have the option of paying dividends to their shareholders. A dividend is a portion of a corporation's after-tax income that is distributed externally as opposed to being reinvested in the firm itself. While...
Top tips for coping with divorce
When you're going through a divorce in Pennsylvania, you have a lot of things to worry about. Whether you have children or not, you could use some tips to make the process go more smoothly. Consider some of these tips if you're thinking about ending your marriage. Top...
Don’t leave it up to chance with an IRS audit
If you have received an audit notice from the IRS in Pennsylvania, you may be wondering how to prepare for the process. Dealing with the IRS can be a stressful experience, but with the right approach, you can navigate the process effectively and minimize your chances...
Benefits of focusing on values-based business succession
For Pennsylvania business owners, succession planning is critical for ensuring the continuance of their enterprises. It helps owners to transfer their business interests to the next generation with as little disruption as possible while also helping to minimize tax...