Dec 30

In the 2012 presidential election, Mitt Romney’s tax returns were the subject of contentious debate. Namely how he could take home more of his money than the average secretary. There was suggestion that Romney was a borderline tax evasion artist, but the reality is that carefully structured donations and money management helped Romney maintain his wealth.

If you want clear, legal strategies to manage your money then read on for a simple tip that has helped the wealthy for generations.

Give Things Away

Your charity can have a strong impact when the tax man calls his due, effectively lowering the income that you claim each year. Visit a tax relief attorney to figure out which donations would be most beneficial to your tax rates.

When you own property, it comes with an intrinsic value. Let’s say the government claimed your house as eminent domain. You would receive compensation for your home based on the fair market value of the property. Charity works on a similar level, but the act of giving effectively lowers your income for the year. It’s like you never made that money to begin with.

Why not sell?

You wouldn’t give away a home, especially not after you’ve put your own money out of pocket to cover the costs of repair. Selling is also hampered by fair market value, which is hard to find in this day and age. As an example:

Say that you pay the highest marginal tax rate of 35%. If you had an antique that was appraised for a higher value than what you bought it for, you try to sell it at that price.

An income tax attorney might suggest that you donate instead. The sale price of $10,000 would be a part of your income for the year. If you decided to donate the dresser, you could get the same market value applied to your taxes. Assuming your appraisal was conducted by a certified appraiser. The result might shave off a few percentage points from your tax bill. En masse, you’re looking at big discounts.

So when does selling make sense?

Mostly, selling makes sense when assets are liquid. There are many in the higher income brackets who would opt for selling just to pocket the extra revenue, especially in situations where there are back taxes owed. Sure, the income is taxable, but the gains may outweigh the costs at the end of the year.

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This guest post on tax benefits was written on behalf of the Law Offices Of Jeffrey B. Kahn, P.C. Kahn is a tax attorney specializing in helping clients get in compliance with the offshore voluntary disclosure program.

Aug 7

Guest post is provided by Daniel Kay, Attorney At Law.  Kay serves as a traffic ticket lawyer in Illinois.  Browse his website for more information.

There are a few things that can be complex in the court system, including expunging a criminal record and putting together a defense in a DUI case.  DUIs are not as black and white as you may think though.  There are certain situations in which the defense can build a strong case.  Depending on the situation, here are a few defense options for DUI cases.

  •  Probable cause: An officer cannot simply pull you over for no reason.  An officer has to have probable cause for suspecting that you’re driving intoxicated.  That means that when they stop, detain, or arrest a suspect, they must have probable cause for doing so.  Pulling you over without probable cause can serve as a possible defense.
  • The Miranda Warning: An officer must read you your Miranda rights at the correct time.  If they forget or don’t do so in the proper order of things, your drunk driving lawyer can argue to have the charges dropped and anything you said can be removed from the record.
  • Blood-alcohol concentration: There can be problems and inaccurate readings with breathalyzers which can sometimes make for a strong defense.
  • Chemical tests taken during the absorptive phase: The body can take as little as 30 minutes or up to 3 hours to fully absorb alcohol.  That means that if chemical testing is performed during this stage, the reading may be inaccurate.
  • Witnesses: If there is a witness present during the incident, the witness can testify and state that the individual didn’t appear to be drunk.

Every DUI case is different.  There are different defenses that may be applicable to your specific situation.  It’s important to discuss your case with an experienced lawyer in order to know how to proceed.

Jul 31

Speaking to a tax lawyer or IRS lawyer will be the first, and best thing you do if you find yourself in a situation with the IRS. They will be able to help you understand what the IRS is looking for and why they are searching for it. They also will know what it’s like to have the IRS on your case with intimidating phone calls and notices.

An IRS attorney may examine some tax returns in order to see if income, credits, and expenses are being reported accurately. Throughout the audit, the IRS may propose adjustments for the tax return if they uncover any inaccuracies. Most of the time taxpayers will agree to these adjustments and the case is closed. However, if a taxpayer does not agree with the adjustments put forth by the IRS, they are allowed to appeal any proposed change. You must appeal and contact your local Appeals Office, within 30 days of receiving the letter notifying you of the changes and your right to appeal.

While there’s seldom a full victory when appealing the IRS, with the help of a tax lawyer you can procure some savings. However, it is important to act fast if you do decide to appeal an audit because interest will continue accrue while you’re appealing. It is also important to understand that appealing an audit, the IRS may uncover other inaccuracies unrelated to the proposed adjustments, and those will lead to more audits.

Guest post is provided by the Law Offices of Jeffrey B. Kahn, P.C., a trusted tax lawyer in San Francisco. View the website for more details.

May 24

Mesothelioma in Vietnam War veterans is more prevalent than you may think. Instead of taking responsibility for causing so much pain to veteran families, asbestos manufacturers are trying to sweep it under the rug. Know that if you have contracted Mesothelioma from interaction with asbestos fibers, you have options. Contacting a knowledgeable asbestos lawyer will help you determine what your rights are, and how you can move forward from your tragedy. The manufacturers need to be held accountable for the health risks they exposed these brave fighters to during the Vietnam war. Unless you ask for assistance when you fight for what you deserve, it can be very difficult to navigate through the legal system.

Mesothelioma doctors characterize the symptoms of the cancer as including shortness of breath, consistent coughing, chest pain, fluid build-up in the lungs or abdomen, fever, night sweats, unexplained loss of weight and pain in the belly. Mesothelioma is a cancer that forms in  the thin sac that surrounds your vital organs called the mesothelium. The tumors grow and, like many cancers, eventually spread throughout the body, including the vital organs the mesothelium is designed to protect.

Mesothelioma treatment is a difficult subject because the disease is so rare. Those who suffer from it go through a latency period after regular exposure to asbestos fibers. They feel virtually no symptoms until it is too late. This makes it extremely hard to diagnose and treat in time before the disease becomes uncontrollable. Options for treating Mesothelioma range from radiation therapy, chemotherapy and surgery, depending on the stage of the cancer and what your doctor recommends. All three of these options are extremely expensive. You should not hold sole responsibility if you are a Navy veteran, because the product manufacturers did not  protect you  from the health risks at your post.

Oct 13

So what exactly are the consequences to not filing an IRS offshore voluntary disclosure document?  The consequences may actually surprise you, as this is a document that the IRS takes very seriously in terms of being able to keep up on all of its potential tax revenue it should have received.

 

Offshore disclosures are linked directly to those who own foreign bank accounts.  If you have accounts with an aggregate balance that topped $10,000 at any point during the year, a filing needs to be made with the Internal Revenue Service.  This is all due to the creation of what is known as the Bank Secrecy Act.  It was developed and aimed to prevent people from being able to hide money overseas in offshore accounts to avoid such things as interest income to report on their tax return.

 

Consequences include up to a maximum of $500,000 in fines as well as up to five years in prison if you fail to make the appropriate filing.

 

If you need assistance with taking part in the IRS offshore voluntary disclosure program it may make the most sense to reach out to an expert.  There are plenty of attorneys who specialize in the offshore voluntary disclosure program.  One of the more well-known experts out there includes the Law Offices Of Jeffrey B. Kahn, P.C.  These experts can help you file timely, and accurately to avoid penalties that could be leveled down on you by the Internal Revenue Service for failure to file.

Sep 15

This year there’s a new offshore voluntary disclosure program that is going to make it more difficult to be eligible.  One of the reasons for this is because taxpayers can’t participate when the government gets evidence that’s specific to the taxpayer of non-compliance through something like one of the treaty requests.  Another thing to know is that certain groups that have accounts at particular foreign banks are ineligible because of the government actions with those foreign banks.  These changes put the pressure on the taxpayer to get into the program for IRS offshore voluntary disclosure quickly.  When the taxpayer hesitates, he or she will face the risk of the IRS putting that bank on an eligibility list.

There have also been attempts by the IRS to limit the ability of taxpayers to challenge the disclosure of banking or tax information in any kind of foreign jurisdiction. Federal law requires the taxpayer to tell the Justice Department if he or she’s challenging tax information disclosure by a foreign government. When a taxpayer doesn’t tell the government, they won’t be eligible for that IRS offshore voluntary disclosure program, so it’s important for them to tell the government that they’re challenging it.

If someone is looking for information about this program or anything else about tax law, one of the places to go is Law Offices of Jeffrey B. Kahn, P.C. They will be able to have the backing of someone who knows a lot about tax law and this program as well.

Aug 22

Finding the right tax lawyer in California is an easy task. If there are any issues with taxes that come about, getting into contact with the right lawyer as soon as possible will be extremely beneficial in the long and short of it. Reliability and honesty are two important traits in a lawyer. Being able to rely on their ability to educate you so that you never make the same mistake twice is priceless.

An IRS audit attorney will help you through the auditing process. They will offer assistance to revenue officers and will see what they can do about doing it as clean as possible. Though this can be a frustrating and confusing time for anyone, having the knowledge to fix the problems that may arise will provide a decent enough back up to get the problem solved sooner than later.

The step is took look into finding a tax lawyer los angeles. There is a reliable firm there that can help with numerous problems, not just taxes. Dealing with these problems in a timely manner can really help preventing the hole from becoming bigger. If you have had issues with tax evasion or things that you may not have known about, finding a lawyer will make it all the more easier.

Do some research on your own and figure out what you are going to need to know and do ahead of time. Find the best lawyer by going to www.kahntaxlaw.comand getting into contact with them.

Apr 22

Are you currently in search of a reputable tax lawyer Los Angeles who can help with your pending tax legal problems? If so you will be more than pleased with the selection of well-educated and respected lawyers that can be found here. It can definitely be difficult to find a reputable attorney when times are tough but they are affordable and will work hard to get you back on track and to solve all of your legal issues as quickly as possible.

If you are currently searching for a tax attorney in Los Angeles take the time needed to visit them for their free consultation to find out what they can do for you. They are here to help those who are suffering from tax problems and other legal issues. There is no obligation or money up front so it will cost you absolutely nothing to discuss your current situation with them.

This company will help you to find the perfect San Francisco tax attorney to support you in your time of need. Their fees are very affordable and with the reputation that they carry you will be more than thrilled with the final outcome of their representation. Dealing with tax issues and other legal problems can be stressful so why not leave it up to a professional to take care of all of it for you giving you back your life and the ability to concentrate on the more important things in your life.

Mar 24

Finding a good, trustworthy lawyer to handle your annuals dues to the United States Internal Revenue service is an important task for many individuals and companies. Choosing an experienced lawyer is also important to ensure you are keeping all of the money that belongs to you while also paying in-full the taxes that you owe so that you can prevent having to pay back-taxes in the future. Luckily, California is residence to experienced tax lawyers who deal with both personal and business accounts. For instance, a San Francisco tax attorney, is able to take on the responsibility of filing taxes for individual clients or for corporations.

One advantage that is offered for a business based in California is the continuity of state taxes amongst the financial record of the business. As an example, a company that has several branches with different locations will be able to file state taxes just the same. For this reason, a tax attorney San Jose can be equally as qualified to file the taxes as a lawyer elsewhere in the state, which is great so that a company does not have to transport files very far to get tax guidance.

Additionally, a San Diego tax lawyer would be equally as qualified. Some tax lawyer firms offer continuity of services, so that if an individual relocates or a new company branch opens, they can go to the nearest branch of the tax firm to receive their services. Looking into services from such a law firm offers peace of mind and convenience to their clients.

Feb 19

If you are facing a legal situation involving taxes, and you feel that you are innocent, or being wrongly accused, it is about time you start looking for professional legal representation. A tax lawyer in Los Angeles will take your case. When it comes to legal matters, the average, and naïve citizen may feel like a stray cat surrounded by vicious dogs ready to pounce at any moments. Some may say that going into danger alone is brave, but the majority will say it is foolish. Take necessary measures and live a life without fear.

Your tax lawyer, Orange County native or otherwise, will turn you from a stray cat, to a lion tamer with his whip at the ready. You are a forced to be reckoned with, and if anyone tries to pull a fast one on you, you will unleash a fury the likes of which the world has never seen. Not even the irs can take you down. You are prepared, expecting the unexpected and doubly sure with your irs tax lawyer at your side. There is strength in numbers, and security in knowing that you hired a lawyer that will not stand to let you get pushed around by the money grabbing folks itching to dig into your pockets while swiping the rug out from right under your feet. Unmovable like a mountain with its peak extending far above the clouds, you are not just an ordinary person. You are a person with reliable representation.

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