Owe back taxes to the FTB or IRS? A Whittier tax relief specialist reveals 5 steps to resolve debt without wage garnishment.
The California FTB collects over $10 billion annually in back taxes—often from Whittier residents who didn’t realize they owed. If you’ve received a notice, act immediately: File all missing returns (even without payment) to stop the 5%/month failure-to-file penalty. Next, explore CA’s 60-month installment plans (5% interest vs. IRS’s 8%). TheTaxDoctor562 recently helped a Whittier retiree reduce a $28,000 FTB debt to $3,100 through an Offer in Compromise proving medical hardship.
Critical warning: The FTB can garnish wages or freeze bank accounts within 30 days of a “Final Notice Before Enforcement.” We intervened when the IRS mistakenly seized a Whittier client’s rental property—proving improper notice service halted the sale.
“Most back taxes are negotiable if addressed before liens begin”. – Rene, at TaxDoctor562.
Tax Planning
Tax Planning is proactive and involves concentrating on the next one to three years. The main theme is to minimize a client’s tax liability.
Tax Advisory
Tax Advisory is proactive. Of course, an advisor is concerned with the upcoming year but that’s not the main goal. Advisors think ahead and discuss with clients such things as; changes in future tax laws, thinking further out, and retirement.
Business Income Tax
Business income tax businesses also pay income taxes on their earnings; the IRS taxes income from corporations, partnerships, self-employed contractors, and small businesses. Depending on the business structure, the corporation, its owners, or shareholders report their business income and then deduct their operating and capital expenses. Generally, the difference between their business income and their operating and capital expenses is considered their taxable business income.
Personal Income Tax
Personal income tax is also referred to as individual income tax. This type of income tax is levied on an individual’s wages, salaries, and other types of income. This tax is usually a tax that the state imposes. Because of exemptions, deductions, and credits, most individuals do not pay taxes on all of their income.
Business Consultant
Business consultant provides advice and strategies to companies to improve their operations, increase profitability, and boost overall performance. Their duties may include organizing business projects, meeting with clients, developing budgets, and implementing promotional campaigns. Business consultants work across various industries and provide expert advice on management, operations, and strategy.
Bookkeeping
Bookkeeping is the core function of ensuring that all bills are paid on time, transactions are recorded correctly, payroll runs on time, and taxes are filed correctly.
Payroll Services
Payroll services are provided by third-party companies to help businesses manage the process of paying employees, including withholding taxes, paying bonuses, and handling deductions for taxes, retirement plans, and health insurance. These services ensure accurate and timely payment to employees and compliance with tax regulations.
Virtual Services
Virtual service is simply a service that, instead of being performed in-house, involves offering assistance and tasks online or over the phone.
