Tax savings comes in many forms. While many individuals and businesses focus sound financial practices, others may flock to insurance to limit what is owed to Uncle Sam. According to a recent Bloomberg.com report, the use of insurance dedicated funds is becoming a...
Finding Real Life Solutions To Your Tax Problem
Attorney Robert T. Leonard
Los Angeles Tax Law Blog
Senators concerned about tax collectors’ tactics
In a prior post, we highlighted the new collection efforts the Internal Revenue Service would be allowed to employ as a result of an infrastructure funding bill passed last year. We noted that private debt collection companies could be calling to pursue past due tax...
House approves mobile employee tax bill
Keeping track of income tax withholding for employees is difficult enough. The task of doing so for employees that travel often and stay in different states for extended periods of time is much more difficult.While comprehensive tax reform is still on the horizon,...
The newest IRS scam for taxpayers to be aware of
It’s been nearly two months since the federal income tax filing deadline passed, and a number of taxpayers have yet to complete and file their 2016 returns. While many have requested and have been granted extensions, there are some who live in fear of the IRS...
Top tax tips for newlyweds
To most people, June is the beginning of wedding season, especially for those who became engaged during the holidays. Indeed, it is natural for soon-to-be married couples to stress out about the details of their special day, but after the wedding, reality and real...
Federal government to return seized tax refunds
The long rumored tax reform is still months away from serious discussion in Congress, but one practice bemoaned by Republicans and Democrats alike is already being repealed that will satisfy their constituencies. For years the federal government would seize the tax...
Current expenses vs. capital expenses
While many small businesses are preparing to take some time off for the holiday weekend it is only a matter of time before the focus turns to tax planning for next year’s tax season. Indeed, some businesses pay their taxes quarterly throughout the year. However,...
Will you pay Uncle Sam some of your gambling winnings?
Game 1 of the Western Conference Finals between the Golden State Warriors and San Antonio Spurs was an instant classic, depending on your sensibilities and your betting acumen. The Spurs were a 10 point underdog going into Game 1, and are heavily doubted to win the...
No taxes to be paid in United Airlines settlement
Most people believed that the reported lawsuit that Dr. David Dao was poised to file against United Airlines and other related parties would never see a day in court. Those people were proven right when the parties announced a settlement last week.The terms were not...
Why is tax planning important for new startups?
Among the myriad of issues new businesses tackle, tax planning is one that commonly falls through the cracks. Some entrepreneurs may just be too intimidated by the prospect of figuring out tax liability. Regardless of the demands your new business may present, it is...