Can I Write Off That Rolex I Just Bought?! Anyone who spends more than five minutes on YouTube will eventually run into an influencer. You know the type. Someone staring directly into the camera, promising that you - yes, YOU - can be...
Question: I own a small business and have not filed or paid my company’s payroll taxes for the last few quarters. I may owe over $100,000 in 941 taxes. What should I do? Answer: Owing the IRS for payroll taxes is very different than owing...
April has come and gone. For most Americans who have the privilege to be required to file a tax return, the returns have been filed (or hopefully extended), the paperwork is stowed away in a box, and a long deep breath was taken before...
Question: I’ve been getting threatening notices from the IRS recently. I think I can pay the taxes due, but what can I do about these ridiculous penalties and interest charges? Does the IRS waive penalties? Answer: There are several...
January Had Its Chance I know that January is long past. New Year’s Resolutions made on January 1st are long forgotten or slowly being whittled down to the nub. Should you surrender until next year? Never! Any promises made in the dead of...
If you’re starting the year with IRS debt hanging over your head, you’re not alone. A lot of folks say that they’ll deal with it “after tax season” or “once things slow down”. Another year quickly passes and the problem continues to...
When facing a tax problem, usually the key concern is: “Will hiring someone save me money?” Dollars and cents are certainly important, but sometimes the value of certainty, closure, and peace of mind should not be disregarded. We get it,...
I recently worked with a couple who reminded me how challenging dealing with the IRS can be, even for high-income earners. On paper, the couple seemed to have everything under control. The husband earned a significant salary and over time...
Case Study: Dodging a Bullet Introduction I just wrapped up a case for a business owner who almost found himself in a black and white stripped suit (jail for those who don’t get the reference). This gentleman represented himself during an...
Thomas Goldstein: Supreme Court Lawyer Indicted for Tax Evasion Introduction Among lawyers, SCOTUSBlog is a well-respected blog on all things Supreme Court. Thomas Goldstein and his wife, Amy Howe, started it in 2002 and it has only grown...
Why Ignoring the IRS Could Cost You Big Time Introduction Receiving an IRS notice can be intimidating. Your first impulse may be to deal with it later, much, much, much, much later. I want to tell you that ignoring an IRS notice could...
Social Media Influencers - Can You Deduct the Bling? My son last week told me he wanted to be a "youtuber". He's 8 so I forgive him for not choosing to follow in his father's footsteps. I mean who wouldn't treasure a career in tax law....
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