24 April

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5 Essential Post-Tax Day Tips to Set Yourself Up for Success

Tax Day is officially behind us! While most people breathe a sigh of relief on April 15th and forget about the IRS until next year, the smartest taxpayers know that post-Tax Day is actually the most critical time to set yourself up for financial success. https://youtube.com/shorts/k_UOFn6E0UI?feature=share In our latest installment of 5 on Fridays, former U.S. Department of Justice Tax Attorney Mark Milton breaks down the top five things you should be doing right now to minimize your tax burden and avoid massive headaches next tax season. 1. Send a Thank You Note to Your Tax Professional If you have a tax pro who...

10 April

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5 Things You Must Do Before the April 15 Tax Deadline

Posted by Milton Law Group

in Five on Fridays, News

Tax Day, April 15th, is rapidly approaching. Whether you have your documents neatly organized or you are scrambling at the last minute, the impending deadline can induce a lot of anxiety. However, panicking or worse, ignoring the deadline entirely, will only lead to IRS penalties. https://youtube.com/shorts/zDCuhH22ZdU?si=4Istr3Hr1iPqhEww In this week’s "5 on Fridays," Managing Attorney Mark Milton breaks down the five essential things you need to do before Wednesday, April 15th, to ensure you stay compliant and protect your wallet. 1. Pull Your IRS Wage and Income Transcripts If you haven't started gathering your tax documents yet, you need to act fast. A common mistake...

03 April

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How Are Gambling and Sports Betting Winnings Taxed?

Posted by Milton Law Group

in Five on Fridays, News

With the rise of legalized sports betting apps and the ever-present allure of the casino floor, more taxpayers than ever are finding themselves with gambling winnings. But a big win can quickly become a headache if you don’t understand how the IRS views that income. https://youtube.com/shorts/fMJ1YTgiuOg?feature=share In a special March Madness edition of "5 on Fridays," Managing Attorney Mark Milton outlines the five essential rules you need to know about gambling and your taxes. 1. All Gambling Income is Taxable The golden rule of gambling taxes is simple: if you win, the IRS expects you to report it. Whether you hit a jackpot at...

20 March

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5 Benefits of Setting Up an IRS Online Account

Posted by Milton Law Group

in Five on Fridays, News

In the digital age, managing your relationship with the Internal Revenue Service shouldn't depend on paper forms and the postal service. The IRS has made significant strides in its online infrastructure, and for taxpayers, the results are powerful. In this week’s "5 on Fridays," Managing Attorney Mark Milton discusses why every individual taxpayer should prioritize setting up their own secure account at IRS.gov. 1. Check Your Balance in Real-Time One of the most immediate benefits is the ability to see exactly where you stand with the federal government. Your online account allows you to check for any balances due for the current year...

13 March

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What to Do if an IRS Agent Shows Up at Your Door

Posted by Milton Law Group

in Five on Fridays, News

Facing a surprise visit from an IRS agent is a high-stress situation that can catch even the most prepared taxpayer off guard. Whether the inquiry is civil or criminal in nature, knowing your rights is the first step in protecting your interests and your future. https://youtube.com/shorts/4pq9iNNuioc?si=hMrUvekBzi9BKNv3 In this week's "5 on Fridays," Managing Attorney Mark Milton provides 5 essential tips for how to handle an unexpected visit from a federal agent. 1. Always Ask for Identification If someone identifies themselves as an IRS agent, your first step is to verify their identity. Ask to see their badge and official credentials. This ensures that you...

06 March

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Top 5 Books for Small Business Owners & Entrepreneurs

Posted by Milton Law Group

in Five on Fridays, News

Success in business is as much about your mindset as it is about your mechanics. As a business owner, managing attorney Mark Milton is constantly looking for new perspectives that can help me better serve my clients and lead my team at Milton Law Group. In this week's "5 on Fridays," Mark shares five books that have significantly influenced his professional journey. Whether you are just starting out or have been in business for years, these titles offer invaluable insights into leadership, psychology, and finance. 1. "The Let Them Theory" by Mel Robbins This is a powerful read about emotional intelligence and boundaries....

27 February

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5 Ways to Lower Your Tax Bill Before April 15th

Posted by Milton Law Group

in Five on Fridays, News

The calendar may say 2026, but for many taxpayers, there is still time to impact your 2025 tax return. While most tax planning happens during the fourth quarter, the IRS allows several specific contributions to be made up until the April 15th filing deadline. In this week's "5 on Fridays," Managing Attorney Mark Milton outlines five ways you can still lower your tax burden before the clock runs out. 1. Make a Deductible IRA Contribution For many individuals, making a traditional IRA contribution is the fastest way to lower taxable income. For the 2025 tax year, you can contribute and deduct up to...

20 February

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Is the IRS Fresh Start Program Real? A Tax Attorney Explains

Posted by Milton Law Group

in Five on Fridays, News

https://www.youtube.com/shorts/I6uA_44yQCI If you listen to the radio or watch cable news, you have undoubtedly heard the commercials. A very serious voice tells you about a "new" IRS program that can resolve your back taxes for "pennies on the dollar." They usually call it the "Fresh Start Initiative" or something similar. If you are struggling with tax debt, these ads sound like a lifeline. Unfortunately, they are often misleading. In this week’s edition of "5 on Fridays," Managing Attorney Mark Milton debunks the myths surrounding these marketing claims and explains the reality of settling debt with the IRS. Is the "IRS Fresh Start Program" advertised...

13 February

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5 Tips to Beat the April 15th Tax Deadline

Posted by Milton Law Group

in Five on Fridays, News

The April 15th tax deadline is fast approaching. Whether you are working with a CPA or a tax attorney, being prepared is the best way to ensure your filing process is smooth and stress-free. In our latest 5 on Fridays video, managing attorney Mark Milton breaks down five essential tips to help you get your taxes done on time and accurately. https://youtube.com/shorts/Vn-oFOyUt7o?si=awNrSJTzD2jgHWGu 1. Complete Your Organizer Almost every tax preparer or CPA sends out a tax organizer. It is vital to complete this as thoroughly and quickly as possible. Don’t leave sections blank - especially when it comes to your banking information. The...

06 February

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Struggling with IRS Tax Debt? Here Are 5 Ways to Resolve It

Posted by Milton Law Group

in Five on Fridays, News

Facing the IRS can be overwhelming, but you don’t have to do it alone. In our latest 5 on Fridays video, managing attorney Mark Milton breaks down the five primary methods for resolving your IRS tax debt. Whether you can afford to pay in full or need a fresh start, there is likely a path forward for you. https://www.youtube.com/shorts/OSGtBn2kvS0 1. Pay in Full (With a Catch) It’s the option no one wants to hear, but if you have the assets and income, paying the debt in full is the fastest way to stop the accrual of interest. However, before you write that check,...

Call 833-LAW-1040

5 Essential Post-Tax Day Tips to Set Yourself Up for Success

5 Things You Must Do Before the April 15 Tax Deadline

How Are Gambling and Sports Betting Winnings Taxed?

5 Benefits of Setting Up an IRS Online Account

What to Do if an IRS Agent Shows Up at Your Door

Top 5 Books for Small Business Owners & Entrepreneurs

5 Ways to Lower Your Tax Bill Before April 15th

Is the IRS Fresh Start Program Real? A Tax Attorney Explains

5 Tips to Beat the April 15th Tax Deadline

Struggling with IRS Tax Debt? Here Are 5 Ways to Resolve It

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