Preparing Form 656

Preparing Form 656 and Supporting Documentation in Seeking an Offer for Compromise An Offer for Compromise (OIC) is a back tax debt settlement offer provided by the Internal revenue service to taxpayers, either an individual or a business unable to pay their tax dues in full. There are certain strict criteria that determine eligibility to request the OIC and if you meet these requirements, you will... [Read more of this post]

Startups & Best Accounting Practices

Startups: Accounting Best Practices You worked day and night to get your small business off the ground. As the sales and expenses grow, you have finally got the hang of bookkeeping, in addition to your main business tasks. While keeping your company’s books correct is a great start, there are several best practices that can not only keep your company financially successful, but also increase its... [Read more of this post]

Offer in Compromise: Preparing Form 433b

Booklet 656: Form 433A When attempting an offer in compromise of back tax debt, you’ll need to submit the 656 form 433b, unless you are a sole proprietorship and thus you’ll complete form 1040 to account for profits and losses. The form 433-A provides the IRS with justification in setting the lowest possible offer amount you can make in seeking an offer in compromise. How to compete the... [Read more of this post]

Charitable Contributions

Tax Deductible Charitable Contributions Another chapter in our Self-Employed Tax Guide. As a Self-Employed Small Business owner, this is one of the best marketing tools out there as well as a great tax deduction if prepared and carried out correctly. What better way to get your small business’s services and products in the front of the mind of a large audience and gain the tax rewards as well.... [Read more of this post]

Payment Installment Plans

Requesting an Installment Agreement after IRS Rejection of Offer In Compromise (or OIC) getting a rejection from the Internal Revenue Service on an Offer in compromise application you’ve submitted might posture you with a little uneasiness, but don’t agonize — you’ve still got the option of sending payments toward the amount owed in installments. The Internal Revenue Service allows... [Read more of this post]

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Huddleston Tax CPAs of Seattle & Bellevue
Certified Public Accountants Focused on Small Business
(800) 376-1785
40 Lake Bellevue Suite 100, Bellevue, WA 98005

Huddleston Tax CPAs & accountants provide tax preparation, tax planning, business coaching, Quickbooks consulting, bookkeeping, payroll and business valuation services for small business. We serve Seattle, Bellevue, Redmond, Tacoma, Everett, Kent, Kirkland, Bothell, Lynnwood, Mill Creek, Shoreline, Kenmore, Lake Forest Park, Mountlake Terrace, Renton, Tukwila, Federal Way, Burien, Seatac, Mercer Island, West Seattle, Auburn, Snohomish and Mukilteo. We have a few meeting locations. Call to meet John Huddleston, J.D., LL.M., CPA, Tawni Berg, CPA, Jennifer Zhou, CPA, Jessica Chisholm, CPA or Chuck McClure, CPA. Member WSCPA.