Monthly Archives: April 2014

FTB can penalize you even if you fully pay your taxes

One of the wive’s tales about taxes is that you are due a refund you can file anytime you want. Be careful, that advice might cost you thousands of dollars. California has a law on its books that says if … Continue reading

Posted in State Tax | Tagged , , , , , , , , , , | Leave a comment

Want to tell the FTB you are a resident of Nevada? Its probably not going to work.

Getting enticed by those radio ads promoting Nevada corporations and becoming a Nevada resident so as to save on California taxes?  Its not going to be easy. Below I posted a recent Board of Equalization case where a guy: 1. … Continue reading

Posted in State Tax | Tagged , , , , , , , , , , , | Leave a comment

Want to stop an IRS Levy?

If you can’t afford to pay your IRS tax bill, the IRS has a multitude of programs to help you out. One of the most interesting of the IRS programs is something called currently not collectible status.  If the IRS … Continue reading

Posted in Federal Tax, Tax Problem Solving | Tagged , , , , , , , , , , , , | Leave a comment

Is a Real Estate Agent a Real Estate Professional in the eyes of the IRS?

If you have rental properties you may not get the full use of your tax losses unless you meet the tax code definition of a real estate professional. Its kind of common sense for a real estate agent to think … Continue reading

Posted in Federal Tax, Uncategorized | Tagged , , , , , , , , , , , , , | Leave a comment