I have a client who is selling her home as non-owner occupied for 600k. capital gains 2012 vs 2013

Unless your client is desperate and in need of cash, closing the sale in 2013 is better because the seller will have 12 months to engage in some...

Can I postpone a deposition when I just got a new lawyer?

Yes. Call opposing counsel and request an extension of time to secure new counsel. Good luck! Phillip M. Smith Jr. Los Angeles Tax &...

In most jurisdictions, churches are exempt from certain forms of legal scrutiny because of the first amendment principals of separation of church...

Can a (medical) sole proprietor become a group to bill other doctors under the sole proprietor's Tax ID? (California)

You cannot bill under the current Tax Id # because it belongs to the current physician, and he would be required to report income that is not...

Selected as the best answer

Can an accountant you paid to have your taxes done be held responsible for penalties being assessed by the IRS?

You would have to sue the accountant and prove that he/she was negligent . It most instances, it is not worth the trouble. In addition, you would...

How to deal with LLC minority opposing members?

Yes. You can still follow the operating agreement, and call a meeting. Hire abusiness attorney to represent you, and perhaps other members. Make...

I was to receive 10,000 shares for $5,000 investment but never received any shares and its been almost 2 years now.

Corporate Securities Law of 1968 (Corporations Code § 25000 et seq.) requires persons offering or selling securities such as stocks or bonds to...

I plan to incorporate my online business in Delaware. I work from home in New York City and do not have any employees.

You would still be subject to New York state and New York tax. So what is the purpose? Good luck! Phillip M. Smith Jr. Los Angeles Tax...

Creating different divisions within my Corporation?

Unless you have some significant business purpose, a "division" is an accounting function that can be handled by a good accountant. There is no...

Who is responsible for unpaid taxes when an emplyee is wrongfully hired as an Independent Contractor?

In addition to the IRS and California assessments, effective January 1, 2012, employers in CA will face stiff penalties – including fines of $5,000...