"Amazon Tax" in California
Aug 28, 2011
If you own a business in California and have been paying any kind of attention to the business tax environment over the past year, you have noticed that the State Board of Equalization (BOE) has become...
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Claiming Refunds from the IRS
Jul 31, 2011
If you have a return in which you believe you are owed a refund from the IRS you cannot delay in filing it to claim the refund. Strict time limits apply to the filing of these returns and they must be ...
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California Deficiencies on Mortgages
Jul 31, 2011
A major concern that real property owners have in California is whether they have any personal liability for the deficiency when they transfer a distressed property. If the property is foreclosed or re...
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Home Mortgage Interest Deduction - Acquisition Debt
Jul 24, 2011
Home Mortgage Interest Deduction -
Even though the law has been out for a while now, the question still comes up often enough "How much can I deduct on my home mortgage interest?" The first issue with...
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Is Innocent Spouse Relief for You?
Jul 04, 2011
If you filled a joint return with your spouse and you are being held responsible for the income taxes due on this return, you need to ask yourself several key questions to determine whether you may qua...
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Why was my IRS Offer in Compromise Rejected?
Jul 04, 2011
Many taxpayers believe that they are eligible for an offer in compromise with the IRS. An offier in compromise allows the taxpayer to work out a deal with the IRS to pay less than the full amount owed ...
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Last Resort - Eliminating Taxes Owed in Bankruptcy
Jul 04, 2011
Did you know that you can eliminate certain income taxes in bankruptcy? Most people do not know that taxes can be removed through the bankruptcy process. Many attorneys that practice in the tax area an...
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Real Estate Development and Section 165 Losses
Jun 25, 2011
Under Section 165 of the Internal Revenue Code, a business loss deduction can be taken if it is evidenced by a closed and completed transaction, fixed by identifiable events, as required by the regulat...
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Tax Implications of Short Sales of Real Estate
Jun 23, 2011
Short Sales of Real Estate can have devastating tax consequences for the unwary. There can be capital gains, income from the cancellation of debt, and other consequences to the seller of the property. ...
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Health Savings Accounts
Jun 23, 2011
The Treasury and Internal Revenue Service has released the 2012 indlation-adjusted amounts for health savings accounts under IRC Section 223. Revenue Procedure 2011-12, 2011-22 I.R.B.
For calendar yea...
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