Expert Tax Tips For Individual Tax Filers

Personal Tax Tips  - 2017-2018

Aarti Kapadia, CPA/MBA, provided these simple tips for individual tax filers. This is not tax advice specific to you, just general information to discuss with your own tax team. Last Minute Tips for Individual Tax Filers  1. The SALT (state and local income tax deduction) is limited in 2018. We recommend you consider prepaying your […]

Ask These Questions Before Buying Life Insurance

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The fourth quarter of the year is when life insurance sales kick into high gear. In many cases, life insurance is often sold as a tax savings plan, here are the questions you must ask before purchasing this important asset. The majority of this discussion involves the use of some form of “whole life” insurance […]

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 […]

HOW TO MINIMIZE OR ELIMINATE TAX LIABILITY REGARDING MORTGAGE DEBT FORGIVENESS

This week we take a look at the tax liability associated with mortgage debt forgiveness and how it can be reduced or eliminated. Given what’s happened in the real estate market over the last six years of the recession this is a vital issue for both casual investors and real estate professionals like developers and […]

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 […]

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 […]

PROFIT RETENTION STRATEGIES FOR MEDICAL PRACTICES –

Guest Author, Attorney Trisha Lotzer

  IT’S NOT JUST WHAT YOU MAKE; IT’S ALSO WHAT YOU KEEP.  With the economic impact of the new healthcare laws and the President’s final 2011 budget uncertain, practice owners and managers would be well served to focus their attention at this time on profit retention strategies. The thousands of doctors we serve are facing […]