When I was more-than actively practicing law, one of the most common questions I received was: how should I structure my business/investments? Here are some thoughts from an expert on the subject: GET E-BOOK: USE [...]
Get a No-Cost Asset Protection Strategy Session!
I no longer provide individual consulting services but this is a service that every small business owner or investor must consider at some point in their journey. I have worked with Anderson Business Advisors and [...]
Understanding the Employee Retention Tax Credit
The IRS has recently updated its checklist with respect to the Employee Retention Tax Credit. This is a nice publication explaining eligibility requirements with respect to the credit. p5887
IRS Adds Requirements for Conservation Easement
The IRS has released guidance on conservation easements and has provided specific language to use in any contracts or deeds relating to these easements. The safe harbor in IRS Notice 2023-30 involves extinguishment and boundary [...]
IRS Provides Additional Time to Claim Refunds
The Internal Revenue Service is showing a bit of kindness and compassion to all of us taxpayers by giving us more time to file tax refund claims for tax returns we filed earlier in the [...]
IRS Targets Low Income Taxpayers with Audits
According to a report from Syracuse University, the IRS managed to actually audit 7,710 "millionaires" in 2022, down from 40,965 just a decade ago. If you claimed the earned income tax credit (for lower-income taxpayers), [...]
IRS Removes Penalties for 2019 and 2020
The IRS released information in Notice 2022-36 that permits taxpayers to have the failure-to-file penalties removed from their returns for 2019 and 2020. This penalty relief (and subsequent refunds) will be automatic, according to the [...]
Real Estate Professionals: Document Your Time
There are many tax breaks that come with real estate investing. There may be tax deductions available when you make the purchase, when you own and operate it as a rental and when you wish [...]
2022 Solo 401(k) Tax Guide
Please click below to obtain your free copy of: The Ultimate Solo 401(k) Tax Guide: Tax Strategies and Tips to Maximize the Plan’s Assets 401(k)
Retirement Tax Planning: The Solo 401(k) and IRA
Here is a link to a recent webinar that I did with Garnaco Inc. In it I discuss some of the tax strategies associated with retirement plans that you can implement today. Save for retirement [...]