Category Archives: Uncategorized

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

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Taking losses from an S Corporation

S corporations can be a great way to save taxes. One of the many complications to an S corporation though is the ability of the shareholder to use the losses by the S corporation.  If you talk to the local … Continue reading

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Failed IRA Rollover due to bad advice fixed

Its seems that every financial advisor out there thinks they are an expert on IRAs.  Along the same lines it seems that quite a few of these IRA experts end up doing nothing but hurting their clients. Case in point … Continue reading

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S corporations and Reasonable Salary

I love it when a potential client comes into the office and tells me they have an S corporation and haven’t paid themselves a salary.  That means I am going to earn a heck of a lot of money trying … Continue reading

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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

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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

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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

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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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