Categories: IRS
Do You Owe Taxes on Your PPP Loan? If you are like many business owners, you may have received one or more Paycheck Protection Program (PPP) loans during COVID-19 pandemic. If you recall, the federal government authorized monetary help in the form of the $2 trillion CARES Act to help businesses in the form of...
Categories: IRS
Is Bankruptcy an Option For Tax Debt? I often receive questions about tax debt and whether it can be relieved through filing for bankruptcy. Many types of debt, such as credit cards and unsecured loans, can be discharged through filing either Chapter 7 or 11. When it comes to owing money to the Internal Revenue...
Categories: IRS
How Often Do Small Businesses Get Audited? I often receive phone calls from small business owners concerned they will be the target of an IRS audit. The prospect of an audit is scary. However, the reality is that only a small fraction of small businesses actually get audited. That being said, if you are among...
Categories: California Tax Law
Did Your Production Company Receive an EDD Audit Notice? If you run a production company and recently received a notice of audit from the California Employment Development Department (EDD), you’re not alone! I’ve received several inquiries from production companies facing an EDD audit. These state payroll audits occur when a business has classified a worker...
Categories: IRS
I’m Getting Audited and Didn’t Do Anything Wrong. Why Do I Need an Attorney? Taxpayers facing an audit from the Internal Revenue Service often come to me confused because they didn’t do anything wrong, or illegal, to warrant an audit. More often than not, that is the case. The IRS may decide to audit randomly...
Categories: IRS
Four Things NOT to Do When You’re Being Audited I receive so many panicked calls from individuals and San Francisco business owners who receive a notice of audit from the Internal Revenue Service (IRS). The reaction of fear is understandable, as nobody wants to deal with their tax records being scrutinized and possibly owing money...
Categories: IRS
What is the First Thing You Should Do When You’re Being Audited by the IRS? Receiving an audit notice from the Internal Revenue Service (IRS) can be a scary feeling. So many people see that letter and immediately start to panic. But rest assured, an audit is not something to fear, nor does it mean...
Categories: California Tax Law
Why Hiring a Tax Attorney is Cost Effective and Not Scary For some people, just hearing the word attorney strikes fear deep into their soul. This is especially true when it comes to taxes and dealing with the IRS. So many individuals think working with a lawyer is a costly and scary prospect. In fact,...
Categories: California Tax Law
How Do I Appeal an EDD Assessment? *The following article was updated in February 2022* One of the most common questions I receive is how can California business owners and taxpayers appeal an EDD audit assessment. It’s a great question and one that should be addressed with an experienced tax attorney. Before I share the...
Categories: California Tax Law
How Are Bonuses Taxed In California? There’s always something very exciting when you hear you’ll be receiving a bonus from your employer. However, that excitement can often lead to disappointment when you realize you not only have to pay taxes on the bonus, but oftentimes, it’s more tax than expected. Additionally, the tax rates can...
