Most entrepreneurs understand the complexities of running a company. They have to balance expenses, manage employees, craft products and establish a strong customer base. Along with that, they need to make sure all the details are perfectly executed.One detail that...
Finding Real Life Solutions To Your Tax Problem
Year: 2019
Cryptocurrency Owners Receive Letters From IRS
Just a few weeks ago, the Treasury Department released a publication stating it did not require taxpayers to report cryptocurrency. Now the IRS says differently. Crypto-what?Cryptocurrency is a concept of digital currency that operates independently of a central bank....
New law reduces IRS seizures of small business assets
IRS seizure is something that no small business owner wants to deal with. That being said, if the IRS suspected owners were skirting the laws about financial transactions, the possibility of having their assets seized was all too real. How the IRS seizes...
What you can expect from an EDD audit
If you’re a business owner, there are few things more frustrating than a notice you’re being audited. You have enough to worry about already without the detailed requirements an audit presents.Here in California, that audit notice will often come from the...
Five ways lawsuit settlements are taxed
Many settlement winners do not know that they will be taxed on the settlement. Tax costs have recently increased thanks to the new tax reform law. Plaintiffs may be taxed on attorney fees too if the attorney receives part of the settlement amount. Settlement taxes are...
Could you be personally liable for employee misclassification?
Business owners and executives often look to CPAs (inactive) and other experts when they need help classifying their employees. They know the IRS and state governments have been paying more attention to employee misclassification, and they rely on your advice to stay...
Bankruptcy may help your tax debt situation
One of the greatest displays of strengths in a human is the ability to ask for help. This is no less true when managing your personal debt. Bankruptcy is a way for you to ask for help in getting your debt under control. While medical bills and job loss are two common...
The Worst Tax Scams The IRS Knows About
It's the season for the IRS to start identifying scammers as they emerge from hiding to make life more difficult for both tax preparers and taxpayers alike. While it is true that tax scams can pop up almost anytime of the year, the time directly following...
Pre-Litigation Alternatives to Resolving Tax Disputes
Although both the federal District Courts and the U.S. Tax Court are judicial forums for resolving tax disputes, there are many opportunities for reaching a favorable resolution before this stage. Specifically, the Internal Revenue Service offers administrative...
Should you be considered an employee or contractor?
Tax season may have passed for this year, but it’s never too late to start thinking about next year. If you’re like most people, you probably prefer not to think about your taxes until you’re required. Yet, taxes are important, and this is especially...