As we noted in our prior post, few people really think about their future tax bill in September. After all, there are more than six months before next year’s federal income tax filing deadline. Nevertheless, time doesn’t stop when it comes to finding and...
Finding Real Life Solutions To Your Tax Problem
Attorney Robert T. Leonard
Los Angeles Tax Law Blog
A measure of warning from the IRS to taxpayers
It is not very often that taxpayers get a measure of warning about the upcoming tax season, but a recent announcement by the Internal Revenue Service could be an encouraging sign. According to an accountingtoday.com report, the IRS is encouraging taxpayers to consider...
How back-to-school shopping can be tax deductible.
With Labor Day weekend upon us, most parents (and kids) know it’s that time of year. If the bevy of commercials haven’t given you the hint, a new school year is now upon us. With that, parents are expected to spend an average of $400 on back-to-school...
Valuation discounts may be ending if the IRS has its way
There may be more than six months to go before tax returns must be filed in April 2017, but it appears that battle lines are being drawn on how some wealthy, family business owners may reduce their estate taxes.According to a recent wsj.com article, new rules...
Change in IRS policy could help unmarried property owners
To the average person who is cynical about marriage, there are plenty of reasons not to tie the knot. Of course there is the work that goes into a marriage, the sense of putting another person above your own needs, and then there is sharing a life (and space in a...
Will you be hooked by a ‘phishing’ scam?
In a few of our posts, we have highlighted the possibility of taxpayers being victimized by fraud when preparing their returns. In some cases, they will be contacted by phone by scam artists posing as IRS agents who threaten to bring suit against an unwitting person...
Three important tax tips for newlyweds
With August being in the middle of wedding season, it is natural to think about what would be best for wedding gifts. Indeed, retailers have elaborate and detailed registries to choose from. But in the midst of all the gifts, the new couple must learn to develop a...
IRS may have misrouted tax lien notices, report says
As we have noted in our prior posts, no one actually wants to receive a tax lien. Most would agree that IRS liens are the bane of one’s existence. However, if a tax lien is initiated against a taxpayer, the federal government has a legal obligation to send...
Teen workers and potential tax breaks
For many teens, their summer vacation is nearing an end. With school starting in the next few weeks, many will be leaving their summer jobs. But for those teens who worked over the summer, it is important to know about the tax implications that may affect their income...
What expenses are tax deductible when administering an estate
If you are chosen to be an executor for an estate, it is largely a great honor. However, there are a number of responsibilities to be undertaken with regard to a deceased’s property. Part of that is handling (or hiring someone to handle) the administration of...