Year-End Tax Plan Sales Targeting Doctors, Business Owners

Year End Sales Hustle

The last quarter of the year is historically an active time for physicians and business owners and their tax, legal and financial advisors. Given increased regulatory issues, I.R.S. scrutiny and increased fraud, it’s vital that you do some basic due diligence before you pull out your checkbook. Doctors are heavily solicited for a variety of tax and […]

Tax Scam Warning – Fraud and ID Theft in 2015

ID THEFT AND INFORMATION SECURITY

Tax filing related scams are at all-time high and we are warning our clients about some specific fact patterns and known risks.  These criminal scams take many forms including mail, phone, email and now even social media and texts. Phone calls and email still seem to make up the bulk of the attempts, make sure […]

Arizona is an Income Tax Haven for MLB Players – and makes MORE off them by being one

TAX & LEGAL Planning for Pro athletes

This interesting article caught my eye because I represent some professional athletes including MLB players and because I live in Arizona.  It has a really interesting bit of info at the end. The conventional wisdom at play in the U.S. is that the best way to raise government  revenues is to tax wealth creators at the very […]

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 […]

Lost or MIsplaced EIN (tax ID) Number?

Deanna Hagan

Lots of people lose or misplace their tax ID Number every year, especially with newer entities or those they don’t use often, Here’s what the I.R.S. suggests if it happens to you. Lost or Misplaced Your EIN? If you previously applied for and received an EIN for your business, but have since misplaced it, try any […]

Is a Captive Insurance Company a Fit for Your Business or Medical Practice?

BUSINESS AND MEDICAL PRACTICE OWNER LAIBILITY

In our two previous discussions we introduced the general concept of a captive insurance company (captive) as well as specific qualifying questions to help doctors pick a good captive administrator. This week we examine some key issues that can help determine if your specific medical practice is at the point where a captive may create […]

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 […]

Short Sale Time Bomb Affects all Buyers and sellers as Mortgage Debt Relief Act Expires – 2012

HOME EQUITY LOSS

Asset Protection is increasingly broadening in what people want from it, it’s not just about litigation and must include an analysis of ALL risks to our clients’ wealth including those posed by debt, investments, taxes, insurance gaps and most notably over the last 5 years, real estate. Below, Realtor Alex Goldstein, who has helped many navigate […]

Tax Planing Schemes Every Physician (and Business Owner) Should Avoid

law and money for doctors

The next 60 days marks the final push to sell physicians and private business owners across the United States tax plans of both good and questionable value. Promoters of various plans are well aware of the pressures affecting your income and will make a variety of frivolous arguments that appeal to your desire to save. As […]

Incomplete Gift Tax Reporting – A Common FATAL Asset Protection Flaw

ASSET PROTECTION FRAUD

RELYING ON GIFTING TO RELATIVES AND FRIENDS  (SEE ALSO FAILING TO ACT)  Transferring all of your assets to your spouse and/or children, especially after something has happened, will not protect your assets from a lawsuit. Even if it did protect those assets from your lawsuits, transferring your assets to your spouse and/or children opens up another Pandora’s […]