Ask any tax analyst or financial advisor, and they will tell you that the key to investing is the long-term play. The longer you have your investment available, the better your return is likely to be. This may be realized in two ways; through the overall value of the...
Finding Real Life Solutions To Your Tax Problem
Attorney Robert T. Leonard
Los Angeles Tax Law Blog
Factors that can determine whether you will be audited
While a number of our posts at this time of year focus on preparing one’s tax return. After all, who doesn’t want to gain a refund after filing an income tax return? More importantly, who actually wants to write a huge check to Uncle Sam?But what taxpayers...
Could new legislation lead to direct income tax filings?
Under federal law, filing a federal income tax return is mandatory. There are severe consequences for not filing your return on time (or at all). To that end, tens of millions of Americans and businesses file returns every year. Many of whom actually spend money in...
What to do if you haven’t filed your return
Last year we wrote a post highlighting what we like to call the “Ides of April” Since the federal tax filing deadline falls on April 15th. Indeed, the tax filing deadline can bring out our worst fears; especially for those who have not filed their returns...
How will Roth IRA contributions affect your tax return?
With the federal income tax filing deadline just less than two weeks away, finding tax breaks are critical in order to save money (and to avoid paying a bill to Uncle Sam). A number of our posts have focused on exemptions, but this time we will highlight the benefits...
Tax discussions you should have during divorce
If you are like most people who initiate divorces in the first month of the year, chances are that you are trying to decide what to do with your taxes, even though you are getting ready to go your separate ways. However, knowing what to expect with your tax bill could...
Fact vs. myths in tax collections
In a prior post, we highlighted a number of penalties that you want to avoid with regard to paying taxes; specifically fees on late payments and unpaid taxes. While many people are afraid of the extra costs that can accumulate from unfiled returns or unpaid taxes, the...
Nearly $1 billion in unclaimed tax refunds remain
In prior posts, we have noted how the slogan “it’s refund season” has inspired people to file their federal income tax returns early, so that they can get their refunds just as quickly. Because of this, millions of Americans have filed their returns...
Tax filing penalties that you want to avoid
It is not common for people who are expecting a tax refund to wait until the last minute to file their federal income tax return. The procrastination is usually reserved for those who believe that they will owe Uncle Sam money. After all, who wants to wait to get...
You may want the swag bag, but not the tax bill
Last Sunday was the movie industry’s biggest night. Of course movie buffs and casual fans alike were interested in who wore what on the red carpet, who won awards and how long the show was overall.But while the show itself may have captivated audiences, the IRS...