Legislative History as Tax Authority: an Obsolete Concept?

Posted Leave a commentPosted in IRS, Legal, Tax Planning, Taxes

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 […]

When business expenses are not deductible

Posted Leave a commentPosted in Law firm, Legal, Tax Planning, Taxes

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 […]

Law firm trust accounting overview

Posted Leave a commentPosted in Accounting, Banking, Law firm, Legal

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 […]

Obstruction of Justice!

Posted Leave a commentPosted in Legal, News and Politics

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 […]

Allowable discrimination in small business operations

Posted Leave a commentPosted in Government, Legal, Small Business

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 […]

Receivables management for small businesses

Posted Leave a commentPosted in Accounting, Legal, Small Business

I spend a quarter to a third of my work time in some function related to collection of fees. It’s a shame because I would rather spend my time doing what I do best – putting more money into the checkbooks of my clients. But of course getting paid for my work is a critical part of […]

The misguided travel ban

Posted Leave a commentPosted in Legal, News and Politics, Travel

“The record before this Court is unique. It includes significant and unrebutted evidence of religious animus driving the promulgation of the Executive Order”. U.S. District Judge Derrick Watson’s’ language in blocking the president’s travel ban is difficult for the average reader. I had to do some digging into the ruling and third party legal commentary […]

NJ Attorney / Law Firm Directory of CPAs

Posted Leave a commentPosted in Accounting, Legal, Small Business

The New Jersey Society of Certified Public Accountants (NJCPA) is looking into putting together an online attorney/law firm directory accessible to Society members. CPAs often request attorney referrals on a peer-to-peer basis or from the Society staff members. A directory might help make this search process more efficient. I am often surprised by the difficulty […]

Small business equity crowdfunding video

Posted 1 CommentPosted in Crowdfunding, Legal, Small Business

A good introductory video explaining small business equity crowdfunding by NextGen Crowdfunding. (At least, IMO, it is as good as a video that consists solely of a lawyer and a business guy in blue blazers sitting talking to each other can be). The 10 minute conversation recorded last fall covers many important points including a short […]