The IRS is not usually on anyone’s Christmas list. In my business income taxes, I frequently see businesses not be able to fully pay their payroll taxes. This normally stems from poor cash flow and easy access to this capital…Read more

We all think we are immortal and business owners seem to never think they will leave the business. I had a construction client pass away on the job. He was actually operating a piece of equipment when the time arrived.…Read more

Outside of trained tax professionals and do it yourselfers who really knows what is on their return? I say in reality not many.  Often I see people that do not really know, and when they are audited are somewhat or very…Read more

Tax planning time of course. In between the holidays for many businesses comes tax planning or loss planning to produce potential tax refunds. There are so many angles to this, it is hard to quantify but doing it before year…Read more

We all love to get discounts. As a business owner I do not get excited about providing them especially under duress as many are. There are cases when I do not mind which are a diminished likelihood of collection. In…Read more

The penalties for not reporting foreign bank accounts can be severe; while a single civil penalty may not exceed $10,000, cumulative penalties can even exceed the value of the foreign bank account.  United States taxpayers who have an interest in…Read more

There are many opportunities in business and life to make choices about doing the right thing. Today a major university is facing scrutiny from a developing scandal that touches on this point. It appears not enough effort was expended to…Read more

I was recently in a room full of owners and CEOS.  The topic of what is proper to post on Facebook came up.  All these smart guys had no clue.  Some could not understand some clients posting a sunset or…Read more

When too good to be true actually is! Recently a firm was indicted in the Inland Empire for tax fraud; by receiving $250 million in illegal tax refunds. I have seen taxpayers with false deductions, but to a much lesser degree. …Read more

Everyone today is trying to get a bigger piece of the pie in this economy. Some are turning to Mergers and Acquisitions. We have a client who did this with a company of similar size. The results of this merger…Read more