Category: Blog
October 30, 2017
Whenever you are considering bringing on a business attorney for your small or mid-sized business, many thoughts and factors often play a role in this process. You may be someone who is already pretty familiar with what a business lawyer typically does for a business and the value they bring, or you may be someone who doesn’t quite know the difference between a business attorney and your everyday run of the mill injury attorney. That’s okay. The fact that you’re even considering onboarding legal counsel likely means that you either have an immediate need for one, or you see a… Read More
May 5, 2016
It was one of the worst experiences of your life. You were audited. You had to go into a Federal Building with all your books, records and receipts, and your livelihood, business and privacy was intruded upon. The IRS examiner may even have inspected your home if you have a home office. The examination was terrible, and now its done. Four weeks later, you receive a report in the mail saying you understated your tax liability by $24,000. The examiner does not believe that the office in your home is really used for business, or that your car and truck expenses were valid. What are… Read More
April 26, 2016
Candidate tax plans don’t add up: Source: www.cnbc.com
Former U.S. Tax Court Judge Diane Kroupa and her husband were indicted on tax evasion charges. You can read all about it here: Source: www.salon.com
March 3, 2016
In the world of tax practice, variations of the following scenario are the most common reason why individuals or businesses end up owing the IRS more money than they can pay: John and Jane open a business. They spend all their hard work and effort establishing a business, building a client base, pumping money into the business and getting vendors. All their hard work pays off, and after 2 years their business is running well and at a profit. However, John and Jane realize that they were not filing tax returns during the past 2 years. Scared of the consequences of what… Read More
November 5, 2015
There are several options available to deal with your IRS Debt: 1. Submit an Offer in Compromise: If you qualify, you can settle with the IRS for less than you owe. When you submit an Offer in Compromise, the IRS will settle with you based on your reasonable collection potential. The IRS will take into account your monthly disposable income, as well as equity in assets to calculate your settlement amount. 2. Setup an installment agreement: If you owe the IRS less than $50,000, they will accept any installment agreement as long as it pays of your balance within 72… Read More
