Newport Beach, CA
Tax Lawyer at Newport Beach, CA
Practice Areas: Tax, Estate Planning
The use of your telephone for business purposes does meet the test of ordinary and necessary if you are using your phone for business purposes. This includes your home phone, office phone, and cell pho...
See Full GuideIn terms of tax deductions there is a big difference between entertainment and travel expenses. Why? Because Travel expenses are typically deductible 100 percent and entertainment expenses are only ded...
See Full GuideThere is a controversial area of passive losses that you need to be aware of if you rent property to an entity that you materially participate. The rules that you follow in this situation are the so-ca...
See Full GuideIf you are the parent of a disabled child you must consider how to leave property to your child, and whether you can provide sufficient assets to provide for your child for their lifetime. This is no...
See Full GuideOwners of closely held businesses can benefit for tax purposes with the sale of the business to an intentionally defective grantor trust. This is one of the most effective techniques to freeze the va...
See Full GuideThe California State Legislature has authorized the California Franchise Tax Board ("FTB") to disclose certain records related to the business activities of residents, corporations and other entities w...
See Full GuidePrior to 2010 an heir to property recieved a "step-up in basis" for inherited property that they received.The "basis" of a piece of property starts with the purchase price of that property and is used ...
See Full GuideBusiness entertainment expenses are deductible on your federal income tax return, but only 50 percent of the amount that you actually spend. You must be able to separate your other business expenses th...
See Full GuideMeals are only 50 percent deductible, but this is still a valuable deduction for most taxpayers. However, you must provide adequate support for the deduction to sustain it as a deduction in an IRS audi...
See Full GuideI often get the question, "What should I do to document my vehicle mileage for tax purposes?" The following information should be provided to document your business mileage: 1) Maintain a log that cont...
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