Estate Tax Audits

Estate tax returns have become relatively rare over the past decade. Since the early 2000’s, the estate tax exemption has been quickly rising, resulting in far fewer estates having to file estate tax returns. Because the number of estate tax returns has been dropping, the IRS has had a statistically greater opportunity to scrutinize the  … Read more

Significant Small Business Tax Deductions

When you own a small business, you work hard to make a good life for yourself and your family. You look for every break you can to maximize your business’ tax position. Tax deductions are a big part of this equation, and so it is important to understand how to properly utilize business expenses for  … Read more

Tax Considerations Regarding Child Support

While no one can dispute that paying child support is a good and necessary responsibility of a parent, that doesn’t mean anyone particularly likes fighting for it or being ordered to pay it. For many separated parents, child support can be a source of tension and hostility. Whether you are paying or receiving child support,  … Read more

The Stages of IRS Action Against a Taxpayer

Problems with the IRS can be daunting to think about. They are a massive government agency that has a Federal mandate to collect money they believe you owe, with the legal tools and resources to follow through. However, if you are in a tax dispute or dilemma with the IRS, don’t lose hope. An experienced  … Read more

When to Modify Your Estate Plan

If you have ever put together your estate plan, or served as an executor or trustee, you know how much time and energy go into the planning process. You know that it is a labor of love—as you are literally trying to provide for the future of people whom you care about. It is also  … Read more

Protecting Your Small Business from an Audit

When you run a small business, you take on an incredible responsibility. This obligation to the success of your business often means great sacrifice to relationships and to time spent with family. With all that you give of yourself, the last thing that you want to deal with is an IRS tax audit. If you  … Read more

What is a Gift Tax?

We work hard for our money during our lifetimes. We sacrifice, we save, and we invest. With that hard work, many people find it highly rewarding to show generosity to others. Unfortunately, the IRS views generosity skeptically, and we are not allowed to freely give our money to others without potential tax consequences. The reason  … Read more

Structuring Your New Business

If you have recently formed your own start-up company, or if you are considering starting one, I applaud you. Entrepreneurship can be a great adventure and truly embodies the American spirit in that you are taking an incredible risk in order to have control over your own destiny. Speaking from personal experience, starting out on  … Read more

Why Was I Audited? Some Flags the IRS Looks For

  “We’re being audited”. This is a dreaded phrase that elicits universal empathy from anyone who hears it. Whether you are an individual or a business, the prospect of an audit means hours of extra work and the possibility of a dramatically higher tax obligation. If the audit goes badly, then there is the additional  … Read more