The job of IRS investigators is to validate their assumptions about your tax liability. When IRS investigators ask for an on-site visit, postponing that visit until after your Tax Attorney has had the opportunity to share the facts of the way your business runs with those investigators ensures that irreversible… [Read more]
California EDD: 1099 Contractors vs Employees How to tell the difference
The primary goal of the California Employment Development Department is to investigate companies whose employees are potentially mis-classified as contractors when they should be classified as employees. When determining whether your workers should be classified as employees or 1099 contractors take the example of the pLumbing Company who hires additional… [Read more]
What to Do if You Think You’re the Target of an IRS Criminal Investigation
Whenever you’re contacted by IRS, the first step any business owner should take is to reach out to a qualified Tax Attorney. There are questions a tax attorney can answer for you such as: What kind of an investigation is being conducted? What information is IRS actually asking for? What… [Read more]
You Filed Your Taxes: Now What?
April 15th has passed and, hopefully, you’ve filed your 2018 taxes and can breathe a sigh of relief. Before you lock that filing cabinet, here are a few final steps to ensure your records are up to date. 1: Go old school. Print a copy of your completed tax return… [Read more]
How Taxes Affect Small Businesses
The top 10 percent of earners pay approximately 75 percent of the entire income tax in the state. Most of these earners are small-business owners.There are approximately 30 million small businesses operating in the United States. According to the U.S. Small Business Association, small businesses of all types pay an… [Read more]
The IRS is Coming After My Closed Business. What Do I Do?
When businesses close, they sometimes do not file taxes for their last year in operation. These taxes are still owed, and if any business has not closed its doors in accordance with state and federal laws, California’s Franchise Tax Board and the IRS will go after the money they’re owed…. [Read more]
7 Things Small Business Owners Should Reconsider Handling Themselves
If you’re a small business owner, you probably consider yourself a jack-of-all-trades. That’s not necessarily a bad thing — it’s a trait that likely got your company off the ground in its earliest phases. Without a full complement of employees, there was only one person to perform the difficult tasks… [Read more]
Small-Business Hiring: Who Should Be Your First Employee?
You’ve decided it’s time you hire some extra help for your business. Congratulations! That’s a big step and a sign of growth. Being a small-business owner means knowing how to do everything yourself. The hours are grueling, and the stakes are high, and yet there is perhaps no more fulfilling… [Read more]
Are You Maximizing Your Small Business Tax Deductions?
The lifeblood of every business activity is money, and small business owners need to hold on to as much of it as possible to keep their companies afloat. The IRS gives small business owners some wiggle room in the form of tax deductions. Yet with so many available — from… [Read more]
