What do I do if I am Audited By the IRS?
Jul 26, 2010
No one likes to get a letter in the mail from the IRS. The feeling that most people get when they receive one of these letters is panic. Most people do not even want to open the letter. If this is how ...
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2010 is year of the Roth IRA - Be Careful of New Conversion Rules
Jul 25, 2010
In 2010 there are new tax rules that have made a Roth IRA possible for a greater number of people than ever before. A Roth IRA is a very effective means of creating retirement wealth. Unlike a traditio...
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How to Deduct Start-Up Expenses for Your Business
Jul 14, 2010
You are allowed to deduct $5000 in start-up expenses in the first year that you are in business when you start up a new venture. The expenses that you incur in excess of $5000 areamortized evenly over ...
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What is the Deal with California Use Tax Audits?
Jul 07, 2010
The State Board of Equalization in California ("BOE")is charged with collecting Sales and Use tax for the State of California. Recently, the BOE has been very active in pursuing claims for Use Taxes wi...
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Taxation of Limited Liability Companies
Jul 07, 2010
A Limited Liability Company ("LLC") is a hybrid type entity that has the characteristics of both a partnership and a corporation. They are very flexible entities and have all but replaced S-Corporation...
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An Overview of the Current Gift and Estate Tax Law
Jun 30, 2010
The current law that we are operating under for the Gift and Estate tax was enacted under the George W. Bush administration in 2001. This law had a gradual increase in the annual exclusion and decrease...
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Capital Gains Strategy for 2010
Jun 27, 2010
First, you need to be aware that the maximum capital gains rate is scheduled to go up from the current rate of 15 percent to 20 percent on January 1, 2010. This does not include what you must pay to yo...
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What is the Outlook for the Estate Tax?
Jun 27, 2010
Wealthy taxpayers have been closely watching what Congress has been proposing for the estate tax for the last several years. Most planners never thought that we would reach 2010 without some modificati...
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Use Life Insurance to Generate Tax Free Cash Flow
Jun 27, 2010
Tax Free Income from your life insurance policies:
In the current economic enviornment it is difficult to generate additional cash flow, and with tax rates slated to go up next year, getting tax free ...
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Special Needs Trusts For Tax and Estate Planning
Jun 27, 2010
Disabled
Beneficiaries Will Benefit From A Special Needs Trust
If you are the parent of a disabled child you must consider how to leave
property to your child, and whether you can provide sufficient ...
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