I Haven’t Reported My Foreign Accounts and Assets. How Can I Come into Compliance and Avoid Harsh Penalties?
For many people, taxes can be a daunting process. When you add on the stress of having to report income earned from foreign accounts, pursuant to Federal Law, the process can be downright stressful and a hassle. It was Not My Intent to Fail to Report My Foreign...
California State Taxes: Last Minute Income Tax Tips from the Tax Attorney
The deadline for California state taxes is on the horizon. If you are still putting together the your California tax filings, these last-minute tax tips could save you money and time! The biggest thing to remember is the date Tuesday, April 18, 2017. That’s when your...Tax Tips from the Tax Lawyer: Set Up a 501(c)(3) Charitable Organization as a Subsidiary of Your 501(c)(6)
As nonprofits grow in popularity, the number of Charitable Organizations, or 501(c)(3) organizations, is rising. A 501(c)(3) is a form on nonprofit that is ideal for fundraising, community and organizational support, education initiatives, and more. If you already...
Business Formation Attorney’s Basic Guide: Choose the Best Business Entity in California
Tax Tips from Tax Professionals The business entity you choose during formation will impact the future of your business. This choice determines how you will file taxes, how profits and income will impact your tax payments, to what extent you will be personally liable...
Tax Tips from the Tax Lawyer: Deducting Your Summer Vacation
Internal Revenue Code (IRC) §162 is every business owner’s favorite Code Section. IRC §162 allows a deduction for ordinary and necessary[1] business expenses paid or incurred during the taxable year in carrying on any trade or business. IRC §162(a)(3) specifically...