Cryptocurrency & Tax Compliance: What You Need To Know If you are one of the nearly 25% of Americans who own cryptocurrency, you might be wondering how to manage your tax returns in order to remain legally compliant. Because tax compliance, tax planning, and estate planning for cryptocurrency owners can be complicated, consulting with a … Read more
Corporations Penalized for Failing to Pay Taxes on Time Companies Must Prove Lack Of Tax Payments Is Not Due To Negligence A Court of Federal Claims recently ruled that a corporation charged with failing to pay payroll taxes in a timely manner did not have a real case for “reasonable cause” for surpassing the deadline. … Read more
File Your Taxes Now, Before It’s Too Late The coronavirus has upended the lives of many. Some have gotten seriously ill, and some have even died. Many are struggling to juggle the demands of working remotely while also ensuring their children get a proper education and also worrying about keeping everyone safe and healthy. At … Read more
2019 Tax Penalties and How to Avoid Them When you think of tax penalties, you may think only of the penalties you would pay for not paying your taxes on time or for committing some criminal offense. But there are many other scenarios in which you might have to pay tax penalties, and you may … Read more
Taxing Money from Trips and the Penalty Issue When people travel for business within the United States and outside of the United States, there are tax laws to consider. Employers and employees often do not know, understand, or apply the laws concerned. In the past, workers used to travel and there was no issue, no … Read more
United States Tax Court Issues Opinion Denying Business Expense Deductions and COGS for a California Marijuana Dispensary On December 20, 2018, The United States Tax Court issued a new opinion regarding the federal taxation of state regulated marijuana businesses, and our marijuana industry tax law attorneys have examined it carefully. The opinion addressed business deductions … Read more
United States Supreme Court Issues Opinion Expanding the Reach of States to Collect Sales Tax from Online Retailers Americans love to shop on-line. Lured by the convenience of shopping from home, competitive prices, and wide selection, on-line shopping has become commonplace for many people, especially during peak holiday shopping season. The benefit of no sales … Read more
How Trumps New Tax Plan Will Affect You Donald Trump promised big tax reform when he was on the campaign trail, and he released a preliminary outline of his plan during this first 100 days, but he has not introduced his formal plan until now. On Sept. 27, he introduced the Unified Tax Reform Framework, … Read more
What is Being Done to Reform the U.S. Tax Code? With the election of a new president, there has been a lot of talk about shaking things up. Republicans are in control of both houses of Congress, and there is a Republican president in office who has been very vocal about changing the status quo. … Read more
Will President Trump Put an End to Offshore Tax Havens? During the presidential primaries last year, both Democratic hopeful Bernie Sanders and Republican Donald Trump promised to put an end to offshore tax havens. Sanders wanted to end the ability of companies to move profits overseas by requiring a tax for the year that those … Read more
Top 5 Resources for Tax Knowledge Unless you’re a CPA or a tax lawyer in Paradise Valley, you’re probably just as confused about taxes as the rest of us. The tax code is huge, and you can’t know it all. Most of us just focus on learning the rules that apply to ourselves, but our … Read more
How the Repeal of Obamacare Will Affect Taxation Now that the Electoral College has confirmed Donald Trump as our next president, many are looking forward to big changes come January. One of the top priorities for the Republicans, who control the House and the Senate, will be to repeal Obamacare – a goal that they … Read more
