Entries by Tax Attorney
How Some California Localities Are Putting Cannabis Businesses Out Of Business.
Medical marijuana is now legal in 29 states plus the District Of Columbia and recreational marijuana is legal in 8 states plus the District Of Columbia. In 2000, 70% of Americans believed marijuana should be illegal. Attitudes have since dramatically changed with a complete flip as a 2017 Yahoo News/Marist Poll survey showed that 83% […]
Warning: State Department May Deny Passport Renewals And Applications If You Owe The IRS
Taxpayers who are seriously behind on their taxes to the IRS are putting their passports in jeopardy! Fixing America’s Surface Transportation Act Under the Fixing America’s Surface Transportation Act (“FAST Act”), signed into law in December 2015, the IRS is required to notify the State Department of taxpayers the IRS has certified as owing a […]
Thinking About Using Medical Marijuana While On Federal Supervised Release Or While Serving Federal Probation?
Medical marijuana is now legal in 29 states (including California) plus the District Of Columbia. However, under Federal law marijuana is designated as a Schedule I controlled substance and therefore is illegal under Federal law. Federal Law 21 U.S.C. § 812 known as the Federal Controlled Substances Act (“CSA”) classifies marijuana as a Schedule 1 […]
Adding To The Turmoil For The Marijuana Industry – Federal District Attorney For Southern District Of California Endorses Attorney General Sessions’ Revocation Of The Cole Memo
On January 4, 2018, U.S. Attorney General Jeff Sessions announced the revocation of what is known in the cannabis industry as the “Cole Memo”. It is surprising that the Trump Administration known for its pro-business stance, allowed for such an anti-business decision to be made by Attorney General Sessions. Just in California alone with the change in […]
The Woes Of The Cannabis Industry
Banks won’t touch you, IRS just wants to tax you and the Feds want to close you down – despite California legalizing marijuana, these are the challenges marijuana businesses face everyday. Medical marijuana is now legal in 29 states plus the District Of Columbia and recreational marijuana is legal in 8 states plus the District […]
Running Out Of Time? Extension Available For January 31st Filing Deadline For Businesses To File All W-2’s And 1099’s
To expedite IRS’ ability to match up W-2’s and 1099’s reported by businesses to the income reported on taxpayers’ tax returns, all these forms must be submitted to IRS and given to taxpayers no later than January 31st. This filing deadline was made uniform under The Protecting Americans from Tax Hikes (PATH) Act. Prior law […]
New Mileage Rates Announced By IRS for 2018
Before the 2017 Tax Cuts And Jobs Act was enacted into law, the IRS published the mileage rates to be used for travel in 2018. For many taxpayers this was a significant tax deduction but the 2017 Tax Cuts And Jobs Act changes that. Why fewer taxpayers will be itemizing: Increase Of Standard Deduction – […]
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