Posted in: Blog, Posted On: 18-01-2014, Posted By: Steven Schroeder

Since 2007 more tax payers have been asking the question “what can be done if I owe back taxes to the Internal Revenue Service”, and the answer is “it depends”.

What can be done depends a lot on your individual facts and circumstances.  The Internal Revenue...

Posted in: Blog, Posted On: 02-02-2017, Posted By: stevenadmin

Congress recently passed the Fixing America’s Surface Transportation Act (“FAST”).  Included in the FAST Act is Section 7345 of the Internal Revenue Code, which requires the IRS to provide information to the U.S. State Department about people who owe $50,000 or more in tax debt....

Posted in: Blog, Posted On: 02-06-2015, Posted By: stevenadmin

Under the Bank Secrecy Act, U.S. residents or a person in and doing business in the United States, including students, persons with a green card or work visa) must file a report with the U.S. Treasury if he or she has  a financial account in...

Posted in: Blog, Posted On: 02-06-2015, Posted By: stevenadmin

Under the Bank Secrecy Act, U.S. residents or a person in and doing business in the United States, including students, persons with a green card or work visa) must file a report with the U.S. Treasury if he or she has  a financial account in a...

Posted in: Blog, Posted On: 25-03-2015, Posted By: stevenadmin

Over the past couple of months we have received numerous questions regarding the health insurance reporting requirements for 2014 taxes, and one of the most frequently asked questions is:

What Kind of Health Insurance Qualifies as Minimum Essential Coverage?

The individual shared responsibility provision requires you and...

Posted in: Blog, Posted On: 19-03-2015, Posted By: stevenadmin

The Home Office Deduction

If you use your home for business, you may be able to deduct expenses for the business use of your home. If you qualify you can claim the deduction whether you rent or own your home. Here are some things you should...

Posted in: Blog, Posted On: 10-02-2015, Posted By: stevenadmin

~~Your worst nightmare as a business has come true – the IRS has selected your tax return for audit.

Your chances of an audit are actually very low. Only 2 to 4% of business returns get audited per year. However, a growing concern, if your business...

Posted in: Blog, Posted On: 27-01-2015, Posted By: stevenadmin

The California Franchise Tax Board has the power to suspend your corporation for failure to file a corporate return and or pay the corporate taxes due.  A corporation whose powers have been suspended for nonpayment of the corporate franchise tax lacks capacity to sue in...

Posted in: Blog, Posted On: 06-01-2015, Posted By: stevenadmin

Beginning in 2014, the “individual mandate” under the Affordable Care Act begins. Not only are all individuals required to have insurance but all people who are required to file a tax return must report their insurance on that return.
In reporting their insurance, people will...

Posted in: Blog, Posted On: 14-07-2014, Posted By: Steven Schroeder

In July property owners throughout California will receive Property Value Notices (“Notice”) from the county assessor’s office.  The Notice is not a bill.  At least it isn’t a bill YET.  The Notice basically states that the property referenced in the notice has been reviewed by...