Category: Taxation


Tax Considerations Regarding Child Support

  • Robert S. Thomas,
  •   Family Law, Taxation
  •   Comments Off on 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

  • Robert S. Thomas,
  •   Taxation
  •   Comments Off on 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

Protecting Your Small Business from an Audit

  • Robert S. Thomas,
  •   Taxation
  •   Comments Off on 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?

  • Robert S. Thomas,
  •   Taxation
  •   Comments Off on 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

  • Robert S. Thomas,
  •   Taxation
  •   Comments Off on 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

  • Robert S. Thomas,
  •   Taxation
  •   Comments Off on 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

Tax Credits vs. Tax Deductions

  • Robert S. Thomas,
  •   Taxation
  •   Comments Off on Tax Credits vs. Tax Deductions

  Even for people who have been paying taxes for years, it can be difficult to understand or keep track of all of the terminology and concepts that are contained in our tax returns. For many of us, we may hand everything over to our tax-preparer, or answer hundreds of questions from a computer program,  … Read more

Preparing Your Start-up’s First Tax Return

  • Robert S. Thomas,
  •   Taxation
  •   Comments Off on Preparing Your Start-up’s First Tax Return

  Speaking from experience, starting your own business is a stressful, risky, and all-consuming experience. But honestly, that’s how it should be—living the American Dream of making it on your own should be the result of hard work. The first year of running a new business is often the most difficult, as the one-time costs  … Read more

IRS and Identity Theft

  • Robert S. Thomas,
  •   Taxation
  •   Comments Off on IRS and Identity Theft

  Very few people like dealing with the IRS if they don’t have to. One particular time we welcome this contact is when we are filing our tax returns, expecting a large refund. Unfortunately, an increasing number of taxpayers in the electronic-filing era are getting shocking news each year: that their tax refund has been  … Read more

An Overview of Criminal Tax Charges

  • Robert S. Thomas,
  •   Taxation
  •   Comments Off on An Overview of Criminal Tax Charges

  Any criminal charge is a matter to take incredibly seriously, as your good name, your ability to vote and work, and your very freedom are all at stake. Federal criminal charges take things to another level, as the Federal government has greater overall resources than state and local governments. In addition, the Federal government  … Read more