It’s that time of year again…tax season. For many small business owners, taxes top the list of business-related concerns. In fact, the National Federation Of Independent Business (“NFIB”) Small Business Economic Trends survey, released earlier this year, revealed that 20% of businesses cite taxes as their biggest problem. With April 15th fast approaching, more and […]
Issues discussed: When is traveling a legitimate business expense? What are the Pros/Cons of doing a tax extension? How liable am I for my spouse’s tax mistakes?
Issues discussed: a. Yahoo published an interesting video and article this week about what it’s like to get audited by the IRS. http://finance.yahoo.com/news/my-experience-getting-audited-140551190.html You’ve helped a LOT of people in this situation before, so what advice can you give someone who might be getting that notice in the mailbox today…? b. Your blog on Ty Warner […]
It’s been about 20 years since the U.S. suddenly fell in love with the adorable 5-inch Beanie Baby dolls created by Ty Warner. But in October 2013 billionaire Ty Warner broke down crying in U.S. District Court as he pleaded guilty to one count of tax evasion for hiding $25 million in income in secret […]
Issues discussed: Mr. C asks: Did I hear you talking on your radio show about how the IRS can levy accounts before proving any wrong-doing? The 5 biggest Homeowner Tax Breaks
Topics Covered: 1. An Unusual But Effective IRS Collection Tool: The Writ Of Ne Exeat Republica 2. The IRS Does Care About Your Small Undisclosed Foreign Bank Account! 3. Freelancer? Avoid these ‘7 deadly sins’ at tax time. 4. Questions from our listeners: a. Will the IRS punish me if I hire a tax attorney? b. Should […]
Congress has given the IRS potent tools to collect taxes. The IRS can impose liens on a taxpayer’s property and can seize it through levy, all without prior judicial authorization. But for taxpayers who attempt to move or keep their assets offshore to circumvent IRS collections – beware of the writ of ne exeat republica. […]
Since 2009 the IRS campaign against unreported income and undisclosed foreign accounts has morphed from a focus on Swiss banks and large accounts to a kind of everyman’s tax disclosure. But keep in mind that just like when the net is lowered into the water it catches all sizes of fish – the IRS states […]
In separate reports, Zen99 and the consumer finance web site nerdwallet ranked Los Angeles the best city for freelancers. In 2012, 12% of people in Los Angeles reported themselves as self-employed. Each of these website reports considered housing and health care costs, the percentage of freelancers in an area as factors. Even before the sharing economy […]
Topics Covered: 1. Even Grandmothers and Widows Are Not Safe From IRS Bank Account Seizures 2. FATCA and FBAR 3. The 5 Biggest, Best Homeowner Tax Breaks – Get Them While They Are Still Here! 4. Questions from our listeners: a. I hear you say that you are Board Certified in Tax – what does […]
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