Income Tax Deductions Doctors and Business Owners Often Overlook

CPA TJ CASEY

As tax day bears down on us with increasing momentum, I turned to a CPA for some tips on commonly overlooked deductions. As always, legal and tax advice given in this forum can only be general information and can never be considered individual tax advice, so discuss these issues with your own CPA now, while […]

The “C” Word in business: Vital Issues To Consider With C-Corporations

TAXES

The article linked below contains some simple and important issues to consider regarding the taxation of C-corps. As an asset protection attorney I’ve never been a fan of them because they are weak , if not defective from a creditor perspective as the shares can actually be taken from you as an asset and handed […]

Tax Scams: I.R.S Dirty Dozen Targets Doctors and Business Owners

BUSINESS AND MEDICAL PRACTICE OWNER LAIBILITY

  With fewer than 60 days until tax time the annual 11th-hour tax planning rush by doctors is in full swing. The Dirty Dozen listing, compiled by the IRS each year, lists a variety of common scams taxpayers can encounter. “Taxpayers should be careful and avoid falling into a trap with the Dirty Dozen,” IRS Commissioner […]

Income Tax Deductions Professional Athletes and Their Managers Must Know About

TAX & LEGAL Planning for Pro athletes

Professional atheletes are great at making money but often lack the support and guidance they need to effectivelty keep it. Some Asset Protection issues address active threats, like lawsuits, others address more passive and predictable issues like income and estate taxes. This article provides a simple summary of taxation issues that professional athletes, their managers […]

Easy Retirement Plan Guide and Explanation for Small Employers

To  help you narrow your search for a retirement plan that is right for your business, we asked CPA Brian Dooley, who is also an International Tax Expert, to give us a smple outline of your options regarding retirement planning. This is a small excerpt from a much larger article that includes links to the IRS. See […]

MOST COMMON ABUSIVE TAX SCHEMES – WHAT THE IRS SAYS

I continually warn clients and advisors that there are good and bad methods, tools and practitioners in every business including Asset Protection. The worst plans I see combine abusive tax plans with supposed Asset Protection benefits. These plans typically involve IBCs, Nevada Trusts, and Domestic Asset Protection Trusts in some combination. Generally speaking these are […]