1. Tax on Luxury Items – North vs South

    Tax on Luxury Items – North vs South So you’re looking into buying something for your personal use to relax on weekends—in this case, a boat—and may be wondering what some of the differences are when buying a boat in different locations. Well, let’s look at two examples: Illinois versus South Carolina. Now granted, in one state, the usefulness of a boat greatly outweighs the other. Ther…Read More

  2. Taxes on Prize Money

    It feels pretty good to win money, doesn’t it? Whether you hit it big at a casino, called into the radio at just the right time, or won a sweepstake, you earned a prize you didn’t have before. While winning these things might feel good - or incredible! - keep in mind that these prizes are taxable. If you are wondering how these prizes are taxed, read on to learn more. We at Tax Law Offices som…Read More

  3. The IRS May Be Calling You

    The IRS May Be Calling You The IRS is making a big change to its collection process. This change, probably wanted by the IRS, is not going to be good news to anyone who may owe taxes. The IRS is now hiring third party debt collectors to call on behalf of the IRS, rather than just sending the certified letter. ALERT: If you are dealing with overwhelming tax liability, and IRS is contacting you, ma…Read More

  4. Top Business Tax Audit Triggers

    You can ask any small business owner what they would like to avoid most when it comes to their company, and we are sure most of them would respond with “a tax audit from the IRS.” It’s no wonder why - these audits can lead to disaster and financial ruin if things are handled incorrectly. That’s why it’s important to contact an IRS tax lawyer the moment you know your business is being aud…Read More

  5. Closing A Business with Payroll Tax Debt (Can You Really Do That?)

    Closing A Business with Payroll Tax Debt (Can We Really Do That?)  Clients regularly seek my advice closing their companies when faced with back taxes and interest. In many cases, they want to walk away from the failing business and the unmanageable text debt. One of the most common problems that these companies face is wrestling with payroll taxes. Payroll tax complicates business closures. We'…Read More

  6. When and Why You May Need an IRS Tax Attorney

    What can you expect when you have IRS tax issues? Can you handle them on your own, or is it best to hire an attorney to represent you? The IRS is not an agency you want to cross, and unfortunately, everything they deal with is very sensitive when it comes to the consequences. Even the smallest mistake could cost you time and money, and it may very well land you in jail. So, if you are facing an au…Read More

  7. Closing a Business with Tax Liability

    Closing a Business with Tax Liability If your business has tax problems, can you simply close the company? Yes, of course you can shut down the business. However, the tax problems do not necessarily end with the closing. Here is one item that you and your IRS tax attorney should discuss when considering terminating a business with tax debt. Can I Just Start Fresh with a New Company? This is an ex…Read More

  8. Jersey Shore’s “The Situation” Has Gotten Himself into A Situation

    Jersey Shore’s “The Situation” Has Gotten Himself into A Situation For those of you who remember, MTV had a show dedicated to the Jersey Shore life. It was basically a show about young Italians who go to the Jersey Shore to party every summer. There was, of course, a lot of drinking, fist pumping, and hooking up. One of the main characters of this show was Michael “The Situation” Sorren…Read More

  9. President Trump Will Get Audited, VP Pence Will Too

    President Trump Will Get Audited, VP Pence Will Too Even with IRS audits lower now than they were a decade ago, for two Americans, they are guaranteed to be audited by IRS. Since the Watergate era, there has been a mandatory examination of the Presidential and Vice Presidential taxes. President Trump has President Nixon to thank for this, due to both President Nixon and Vice President Agnew being…Read More

  10. Top Tax Mistakes That Could Get You Into Trouble

    Tax season has officially ended, so you’ve surely gotten everything turned in to be processed! Did you do your taxes correctly? Little mistakes happen all the time, so that does not necessarily mean that the IRS is going to be sending you threatening letters or showing up at your door anytime soon. However, it is much wiser to be safe than sorry. Unless you are well-accustomed to doing your taxe…Read More