How To Be Eligible For The IRS Fresh Start Program

Categories: IRS

How To Be Eligible For The IRS Fresh Start Program It’s not uncommon to struggle with paying your federal taxes. I hear from individuals who, through no fault of their own, just cannot pay the IRS when taxes come due. Luckily, the IRS has a special program to help. The IRS Fresh Start program is...

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Can The IRS Audit My Net Operating Loss?

Categories: IRS

Can The IRS Audit My Net Operating Loss? Taxpayers often ask me if a net operating loss can be a problem for their small business or corporation, and whether the IRS can audit the net operating loss. This is not a simple question because, like many business tax questions, the answer depends on a few...

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What are Five Common Small Business Tax Questions? 

Categories: IRS

What are Five Common Small Business Tax Questions?  Owning a small business is quite different from running a large company, as small business owners often face different issues and tax questions than that of those who manage a corporation or LLC/LLP. I receive a lot of questions from self-employed individuals and small business owners in...

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Do You Owe Taxes on Your PPP Loan?

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...

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Is Bankruptcy an Option For Tax Debt?

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...

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How Often Do Small Businesses Get Audited?

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...

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Four Things NOT to Do When You’re Being Audited

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...

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Why Hiring a Tax Attorney is Cost Effective and Not Scary

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,...

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