The Hobby Loss Rule in the News Again

The Hobby Loss Rule is a presumption long relied on by the IRS to disallow expenses claimed by taxpayers who show losses on their Schedule C. A recent report from the Treasury Department’s Inspector […]

Integrating Life Insurance Benefits into Your Estate Plan

Life insurance is a wonderful tool to provide income security for the insured’s dependents and to provide liquidity essential for payment of estate taxes or equalization of distributions to heirs of the estate. But […]

Postnuptial Agreements for Asset Protection

A postnuptial agreement is a contract between spouses that sets out how assets or liabilities will be allocated between them during a marriage and at death or divorce. This agreement offers spouses the opportunity […]

IRS – trying to be a law unto itself.

The perception that the IRS is a very powerful organization is widespread. Special privileges for collection, a preference for intimidation, and the disregard for equity that’s splashed the IRS news for the past decade […]

IRS Hacked Again – Seriously?

You’ll love this (or feel even less digitally secure with your tax info). Last year the IRS announced that it had been hacked and hundreds of thousands of taxpayer records had been compromised. Many […]

No Internet Tax – It’s Official…Almost

There has long been talk among state and local taxing authorities regarding the lost revenues occurring from the sale of goods over the internet. Several states, and some local governments have attempted to impose […]

What If My Business Has Changed and My Entity Type Needs To Change?

Changing your line of business does not necessarily call for a change in your entity. This report will cover some aspects of a business that might require you to revise and/or restructure your entity. […]

What are Ancillary Probate Cases?

In prior posts we covered some of the differences between trusts and wills and why trusts are generally preferred. One important reason that deserves special attention is owning property in multiple states. You now […]

IRS eFile Delays

The 2015 Tax filing season has officially started and the IRS is once again struggling to process tax returns. Our processing provider has notified us that the IRS is experiencing significant eFiling issues at […]

IRS Lawsuits – Yet another IRS Scam

It goes like this. Someone calls and tells you (or leaves a voicemail) that this is your last notice or the IRS will be filing a lawsuit against you. You’re directed to pay immediately […]