I recommend individuals annually review their estate plans by making sure that all designed assets actually belong in a trust. For those without a trust, they must ensure that they set up their beneficiary designations accurately. A common occurrence for…Read more

Every year, the IRS publishes the 12 most common scams or problems that taxpayers could encounter; a “Dirty Dozen” list. They come in a variety of different categories. The first kind of group of them is in the realm of…Read more

The ever-growing field of captive insurance gives potential tax advantages to businesses, but also additional IRS scrutiny.  Here’s what a captive insurance program does. Say a doctor is paying $500,000 a year for medical malpractice insurance. If no one files…Read more

Finalizing an actual marital separation agreement must come before anything else. Otherwise, you’ll violate the law by splitting your assets before anything gets completed by the court. That’s doesn’t mean you should sit back and let things take their course.…Read more

By Anne Wenger It’s a difficult question because you really almost have to have a vision of the future in order to prevent something like that happening. If you live in a community property state like California, there is nothing…Read more

The short answer – the impact will be farther reaching than many think. See why in this short video by our own Kevan McLaughlin. I’d strongly advise patience for anyone seeking resolutions to tax issues this year. Though the federal…Read more

Historically in the past, this was not an issue for the IRS. That was due in large part to the fact that there was the complimentary self-employment tax. So the general prevailing thought was it’s a wash. That shifted in…Read more

By Mauro Colabianchi If you have on your Schedule C a ton of contract labor and you never submitted any 1099’s, that’s a red flag. If you have a Schedule A with unreimbursed employee expenses, then that’s a huge red…Read more

– Will cover estate planning topics as member of editorial board –  Attorney Anne Wenger of McLaughlin Legal, a San Diego-based firm providing tax litigation and controversy, estate planning, trust administration, tax preparer and CPA defense services, is named the Associate…Read more

Watch this short video by Mauro Colabianchi here. Expenses against stated income are some of the things that can flag your return for an audit. The IRS and other regulatory bodies will cross reference your declarations, say the mortgage interest…Read more