Quick important note: Unless you have been living under a rock in the last year, you most likely heard (and still hearing) ads promoting businesses to take the Employee Retention Credit (ERC). Many of the ads are from unscrupulous advisors without credentials,
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For taxpayers engaged in real estate activities, the coveted “Real Estate Professional” (REP) status can offer significant tax advantages. The Internal Revenue Service (IRS) delineates specific criteria for individuals to qualify as a real estate professional, primarily impacting the manner in which
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Some relief from the California storms Due to the intense storms hitting California in late 2022 and early 2023, the IRS announced in February this year a significant extension of the deadlines for filing and payment of various taxes until October 16,
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Someone recently had a question regarding going back to college to finish up their degree that they started more than a few years ago. When they attended school before, the current tax credits weren’t available, which is important to this story. Currently,
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The IRS has recently updated its policy regarding the practice of surprise visits by its revenue officers to the homes or businesses of taxpayers. The new policy, which is part of a wider IRS restructuring, is intended to enhance safety and reduce
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Quick backstory to the inspiration of writing this blog post….I recently drafted a waiver of liability for a unique and relatively uncommon business, and was amazed during the research process of how many in the same small industry had waivers of liability
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As a business owner, filing taxes can be a tedious task. It’s one of those things that no one likes to do, but it’s necessary. When it comes to filing 1099s, the process can be even more stressful. You need to make
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During the depths of the depression, in order to “clean up” Wall Street, who largely (rightly or wrongly) took the brunt of ire over the economy going from bad to worse, Congress enacted various security laws designed to help level the playing
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In criminal (and civil) cases, often an element of “scienter” is required to be shown by the actor. Scienter is generally defined as “A mental state embracing intent to deceive, manipulate, or defraud” Aaron v. SEC, 446 U.S 680, 686 n.5, 100
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A Non Freehold Estate (leasehold) is a type of estate whereby the holder of the estate has possessory rights and interest to a property, albeit will terminate at some point in favor of the FREEHOLD Estate owner(s). A leasehold provides the tenant
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