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Author Archives: Kim
IT IS ALL ABOUT TIMING
If you think you are entitled to a refund do not wait until it’s too late to file an amended return. Per Section 6511 of the Internal Revenue Code you only have 3 years to seek a refund (4 years … Continue reading
YOU DO NOT HAVE TO GET ON THE LIST
The Franchise Tax Board (FTB) publishes a list of the 500 largest state income tax delinquencies yearly. They already have the power to suspend Contractor licenses, but will have additional authority in July 2012 to suspend other professional licenses. In … Continue reading
Tax Tips for Canadian Investors
We frequently get questions at our firm about the tax consequences to Canadian residents who invest in California real estate. The number one question is “If I buy real estate in California, will I be required to file a California … Continue reading
THINK ABOUT STARTING A HOME BASED BUSINESS IN 2012
Tired of searching for a job? Need more income? Hire yourself and consider a home based business. With proper marketing and advertising a home based business is a great way to generate income. The range of businesses that can be … Continue reading
Internal Revenue Code 6343 – Authority to Release Levy and Return Property
Background Every day people are living in fear of the IRS because they either have not filed tax returns for several years or they have filed and owe taxes. They do not file tax returns because they cannot afford to … Continue reading
Posted in Federal Tax, Tax Problem Solving
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How Section 1398 (d) of The Internal Revenue Code Can Save A Home
This is the fact situation: taxpayer and his spouse own a home with $30,000 in equity. They owe $40,000 in unsecure debt such as Visa, MasterCard, J.C. Penny Co. and personal loans. They have a judgment against them in the … Continue reading
Posted in Bankruptcy, Federal Tax, State Tax, Tax Problem Solving
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END OF THE YEAR TAX SAVING TIPS
As the end of the year is rapidly approaching here are a few things that can save you serious cash on your 2011 tax return. If you have a business, you can expense 100% of the cost of fixed asset … Continue reading
Need protection for a IRS Audit?
One of the biggest benefits our clients receive when they hire us is that they typically don’t have to appear for an IRS audit. Under the tax code, so long as we are doing our job and properly representing you … Continue reading
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Get a loan from the IRS
If you can’t afford to pay your taxes, don’t worry the IRS has a number of solutions to your tax problem. In fact the worst thing you can do is not file a tax return because you can’t afford to … Continue reading
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Not so secret IRS Audit Guides
How would you like to know what the IRS is going to ask you during an audit? To put it a different way, would you like to “audit proof” your business. That is make sure that your books and records … Continue reading
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