How To Pick a Name For Your Business

You probably know that forming a business entity is one of the easiest ways to protect yourself as an owner from business liabilities and you are probably aware that some tax benefits can flow […]

Probate vs. Non-Probate Assets: Estate Planning Without Wills and Trusts

In a previous post we covered a method available to transfer real property without probate called the Arizona Beneficiary Deed. The purpose of the beneficiary deed is to allow the owner to retain control […]

Tax Deadlines for 2016

The IRS announced today the filing deadlines for the 2015 tax year. The IRS will begin accepting 2015 returns on January 19, 2016. S-Corporation and Partnership Returns are due on March 15, 2016. Extension […]

Congress Passes the Tax Extenders Bill just in time for Christmas!

Congress did it. Over 50 tax provisions expired at the end of 2014, including accelerated depreciation provisions, child tax credits and earned income credit allowances. And for the past 11.5 months we’ve been in […]

Filing Tax Returns for Deceased Individuals

A commonly overlooked issue in estate administration is the filing of the decedent’s final tax return. Even if there are no assets to administer, a person may have had substantial income that requires reporting […]

Owing Taxes May Prevent You From Traveling

Believe it or not, if you owe back taxes, you may be prevented from traveling abroad. How is that possible? Well, on December 4, 2015 President Obama signed legislation passed by Congress that gives […]

IRS May Soon Use Private Debt Collectors

The latest from Congress on the tax front left me shaking my head to say the least. In a recent transportation bill that cleared both the House and Senate, the requirement was inserted that […]

Identity Theft – Finally a Little Help From the IRS?

In June of 2015, the IRS acknowledged that over 100,000 tax payers information had been stolen from IRS databases and used to file over 13,000 fraudulent returns, resulting in more than $39 Million in […]

Beware of Crooked Debt Collectors

The Federal Trade Commission has been on a hot streak recently in obtaining judgments against dishonest debt collection agencies, resulting in restraining orders halting operations and ordering repayment for affected consumers These judgments highlight […]

Most Common Business Tax Penalty and What to Do About It.

One of the most common letters our clients receive from the IRS is a penalty assessment letter associated with their business entity. And the good news is that the penalties can often be waived. […]