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What is an IRS Levy?

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?

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,...

Will the IRS really Garnish your Wages?

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?

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?

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?

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?

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?

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 Is The IRS Fresh Start Program

What Is The IRS Fresh Start Program

Need Help Paying Your Tax Bill? Owing money to the IRS isn’t a good feeling. If you owe taxes but don’t have the money or ability to pay, don’t worry.  The IRS’ Fresh Start Program aids taxpayers who have difficulties paying their taxes. What is the Fresh Start...

Top 5 2018 Tax Changes for Individuals

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

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....

Special Business Knowledge And North Dallas Business Success

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,...

The Most Important Factor in North Dallas Small Business Valuation

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...

2018 Tax Reform Update And A Holiday Prayer from Teresa

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...

Build A Brand In North Dallas And Do It Well

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

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

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

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

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

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

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

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

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

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

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

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...