What happens on your tax return when your children are living with someone else (such as your ex-spouse)? As with every tax situation the answer is, “It depends.” If your […]
IRS
We Can’t Help You if we Don’t Know.
Every year, at least one of my clients will surprise me with something they did that will drastically affect their taxes and they didn’t tell me about it. Usually they […]
BEWARE – 8300 filings
Do you ever accept cash as a payment in your business? Well legally, you have to accept any legal tender which includes cash. However, most people do not carry $200 […]
Right to Privacy
Do you have a right to privacy? Well, according to the Bill of Rights Amendment 4 you have the right “to be secure in their persons, houses, papers and effects […]
Phone Scams
We have all gotten those e-mails from the Nigerian prince asking for bank information so he can safely get money out of his country, but what if the IRS calls […]
Federal Vs State
In most cases, federal laws supersede state laws; which becomes a major hurdle for those who sell marijuana under state legalization. However, there are exceptions. One that comes to mind […]
The cost of tax compliance
Have you ever thought about the time both you, and your bookkeeper or your accountant spend to make sure you are doing everything you need to do to be in […]
The Good, the Bad and the Ugly of dealing with the IRS
Everyone panics when they get any correspondence from the IRS, even if it’s a good notice (yes, they do have those). The first step: Don’t Panic. The second step, don’t […]
Jack of all trades
I find it interesting that Entrepenurers in general seem to have the idea they have to be an expert in every part of their business; from how to clean the […]
1099’s: why, when and how many
Each year I get the question why should I file 1099’s? The fact is they are required by law. This form is often associated with independent contractors however it could […]