IRS & Tax in the News

Tax Deduction / Minimization Tips

Paying Management or Consulting Fees from one of your Businesses? Beware the Tax Rules

Paying Management Fees from one of your Businesses? Beware the Tax Rules A recent Tax Court case (Little Mountain Corporation v. Commissioner) had to deal with a family that owned several different businesses (with common ownership). These [...]

New Tax Issues for Online Retailers

New Tax Issues for Online Retailers If you sell any products (but not services) via your website, you may now have additional tax issues concerning sales taxes.  Considering the recent US Supreme Court ruling, online [...]

Your Rights as a Taxpayer: We have Rights and the IRS Doesn’t!

 Taxpayer Bill of Rights As a taxpayer, you are backed with your rights under the US Constitution, including your 4th and 5th Amendment rights.  However, us American taxpayers are also protected by the Taxpayer Bill [...]

2018 IRS “Dirty Dozen” Tax Scams

Every year, the IRS posts its version of the "Dirty Dozen"- the 12 most prevalent tax scams out there for the year.  And this year is no different.  Following/implementing any of these scams is a [...]

Buy a New/Used Car in 2018 and get a 100% Tax Deduction!

Starting in 2018, it is now possible to claim a 100% tax deduction for the cost of a vehicle. Here are the rules (be sure to consult with your tax advisor before implementing any tax [...]

Tax Savings|

Home Equity Loan Interest is No Longer Tax Deductible- and the Loophole!

The Tax Cuts and Jobs Act passed in December 2017 no longer permits an individual to deduct the interest paid on home equity loans. This is a major change in the tax laws and very [...]

Personal Tax Planning|

Bitcoin and other Virtual Currency and a few Tax Tips!

Virtual Currency/ Bitcoin Taxation Bitcoin and other virtual currency are treated as “property” for tax purposes. For purposes of this article, I will refer to “virtual currency” with the understanding that it potentially could include [...]

Real Estate Investor Webinar (Download)

If you missed my webinar for real estate investors and professionals earlier this month, here is a link for you to listen at your leisure:

Another Real Estate Professional Beats IRS in Tax Court!

A Nice Tax Win for Real Estate Investors!   Another Real Estate professional beats IRS in Tax Court!  The IRS is not, contrary to popular belief, invincible.  Given that I often speak and write about [...]

Tax Implications of Divorce

Some Tax Implications of Divorce (2017) There are many potential tax implications of divorce in the United States.  This article points out a few very general tax considerations to keep in mind.  However, all tax/legal [...]

Personal Tax Planning|