Newport Beach, CA
Tax Lawyer at Newport Beach, CA
Practice Areas: Tax, Estate Planning
A question that often comes up when a taxpayer has additional taxes due upon audit is whether the penalties charged by the IRS are negotiable. The answer to this question is absolutely. The first part ...
See Full GuideIt is no secret that the IRS likes to audit the business meals that you claim on your tax return. Your best defense to this situation is to adequately document your position. The Internal Revenue Code ...
See Full GuideIn the current tax year (2010) gift taxes are a flat 35% if you have exceeded your annual $13,000 exclusion amount per individual, or $26,000 if you are split-gifting with your spouse, and have exceede...
See Full GuideA question I often get asked is whether the recipient of a gift has to pay taxes on the money received? Generally, the answer to this question is no. The donor of the gift must pay any taxes that may b...
See Full GuideIf you have unfiled tax returns what should you do? It seems that once you are late on a tax return it gets easier to be late on another and another. The tax filing dead line for all returns for 2009 h...
See Full GuideCalifornia charges a minimum Franchise Tax of $800 to business entities regardless of whether they made any profit. It is considered the cost of the privilege of doing business in California. This fee ...
See Full GuideWhat is your tax basis? We here this so much in tax discussions, but many laypeople just do not understand this term and why it is so important in tax discussions. Your tax basis typically starts off ...
See Full GuideSo you work in multiple states. How do you file your income taxes? If you are a resident in one state an perform work and earn income in another state you are requiered to file an income tax return for...
See Full GuideThe usual tax strategy in tax planning is to first eliminate a potential tax, and if this is not possible defer it to the future and save money with the time value of money. However, we are potentially...
See Full GuideIf you have a SIMPLE Plan it is not too late to make tax saving contributions for 2010. Here are the rules that you will need to follow for Contributions, Distributions, and Phaseouts. Contributions: ...
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