Everyone hopes to avoid a tax audit but sometimes it happens anyway. An audit always starts with a written notification by mail from the IRS, state, or local tax authority. It might just be triggered by a simple computer-generated “mismatch” error or it might be the beginning of one of the more rare types of […]
Taxes and a wide range of other legal and business issues are affected by the legal concepts of residency and domicile. Individuals who have physical connections to more than one state should carefully consider the implications of the laws in each state that may claim jurisdiction of any legal or business issue. In some cases it […]
Facebook’s multi-billion dollar tax case in the news today has implications for us ordinary tax-paying citizens. Two take-home lessons: If you rely solely on the Taxpayer Bill of Rights without other statutory authority, then this adds a level of procedural risk to your dispute. We do routinely rely on these procedures and expectations of ‘fair play’ […]
This blog post lists key issues in bullet format and is not intended as a complete discussion of any issue. A more thorough consideration is helpful for any aspect that may pertain to your family’s situation. Definition: “Medicaid planning” refers to the specialized field of financial planning that recognizes that it is possible to simultaneously keep financial assets while, […]
Early in my professional tax career I learned about the concept of legislative history as tax authority. In fact a large part of any legal education is learning to evaluate evidence based on its qualitative characteristics, statutory consideration or local rules. In tax law this hierarchy of authority becomes the logical and legally supportable basis that […]
A general principle of tax accounting is that we deduct ordinary and necessary business expenses from our gross income before reporting the net taxable income. However, this is not always the case. In some cases it is necessary to modify your tax accounting to comply with specific tax laws – even sometimes when the tax […]
This post is meant for non-lawyers and people who want a general understanding of the topic. Lawyers should rely on more specific sources including their state bar associations. Rules vary by state and jurisdiction. These are just general principles. Client funds that are not earned legal fees must be kept in separate accounts and not commingled […]
financial planning tips for attorneys early in their career
I know you thought this would be about President Trump. It’s not. It’s about me. I was once threatened with a charge of obstruction of justice. My lawyer later explained that law enforcement has wide latitude in applying this charge and that they probably would have prevailed in bringing the criminal charge against me had […]
There are no legal protections from discrimination in service based on political affiliation or expression A story in the New York Post raises an interesting legal point about allowable discrimination in small business management. When discussing the topic of discrimination in a small business setting it makes sense to first recognize the terms “legal discrimination and […]