Bob Jablonsky's (bob_jablonsky) Blog

As the shift from traditional employment to self-employment and business ownership continues, many workers are finding themselves in a brand new situation. The IRS has noticed the shift to gig work, freelancing and self-employment, and their auditors and agents are increasingly focusing on those ...

Owe the IRS Up to $250K of assessed taxes?  The now permanent Non-Streamlined Installment Agreement May Be For You!Earlier this year, the IRS made permanent a pilot payment plan initiated during COVID that may make it easier for taxpayers owing the IRS up to $250K.Before we discuss this program, ...

The IRS has announced it’s intent to send 5 to 8 Million CP14 notices to taxpayers that filed returns with taxes owed.  The CP14 notice is the first in a series of notices that the taxpayer will receive. Each of these notices provides you with information including where you are at in the collect...

File Your Returns Timely (Even If You Can’t Pay Now)very year, millions of taxpayers who are required to file a tax return, don’t do so timely, or don’t file at all.  Many of those are Real Estate Agents and Brokers who have the same responsibilities as larger business owners when it comes to tax...

I have taxpayers call or come into my office and tell me that the IRS liened my bank account or levied my house.  It can all get very confusing and wanted to take a few moments to discuss the difference between a levy and a lien.  Why is it important?  First, the IRS must follow different rules w...

Savvy business owners are often looking for ways to cut their taxes this year.  Here are six powerful business tax deduction strategies to consider implementing before the end of 2022.  It’s important to understand and implement them now.  Waiting until tax time is usually too late.  If you want ...

Are you a taxpayer who files and pays timely each year but had one year where there was a blip and were unable to do so?  If that’s you, I may have good news for you.  While the IRS does not simply remove penalties upon request, there are some options.  Today, we’ll discuss the First Time Penalty...

It's tax time, and Real Estate Agents, like all self-employed individuals are looking for deductions to reduce your tax liability.  As you go through the filing process, don't forget to look at whether you qualify for the Health Insurance Deduction for the Self-Employed (SEHI).  Self-Employed Tax...

Some Real Estate Brokers and Agents elect to file taxes for their business as an S-Corporation.  How do you make that election?  To do so, you'll need to complete form 2553.  In this video, I walk you through the steps to completing Form 2553.  https://youtu.be/HeIqbwMlSTMIf you a Real Estate Age...

At presentations that I give to Real Estate Agents, I often get a question of the benefits of setting up an LLC/S-Corp for the business.  There are potential tax benefits to having the S-Corp structure for your business versus filing on a Schedule C, but there based on the state you are in and ho...