#TaxTips

Avoid Costly 401(k) Mistakes: Essential Tax Tips from Attorney Louis Haskell

Tax, Video Blogs |

Greetings from the historic city of Ayutthaya, Thailand! As a tax attorney, I’ve seen my fair share of financial missteps, particularly when it comes to 401(k) plans. With tax season around the corner, I wanted to share some critical advice to help you avoid common mistakes that could cost you thousands. https://youtu.be/rCMLk_bxcGE Mistake #1: Emptying […]

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Who Should Be Concerned About Estimated Taxes?

Tax, Video Blogs |

As tax season approaches, I find myself fielding a lot of questions about estimated taxes. It’s something that a surprising number of people overlook until they get hit with a penalty notice from the IRS, so let’s talk about who should really be concerned with these quarterly payments. https://www.youtube.com/watch?v=jsneBGpjs4k But it’s not just self-employed people

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TAX SEASON AFTER APRIL 15

Tax, Video Blogs |

We have passed the traditional end of “tax season”, but because of the COVID-19 pandemic, the tax filing deadline has been extended to July 15.  Fortunately, we are open year round and provide tax services year round.  Rarely is there a month in which at least one person does not come in to file taxes. 

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How To Avoid An Audit

Tax |

One of the advantages of being a lawyer as well as a tax preparer, is that I have the opportunity to clean up the messes that other tax preparers make. There are a number of things that tax preparers, and self filers as well do that trigger the IRS. When the letter from the IRS

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The Irs’ New Tangible Property Regulations – Avoiding Having To Depreciate Even Major Structural Repairs

General Blog, Tax |

2014 was the first year under the new Tangible Property Regulations (“TPR”) that the Internal Revenue Service has finally published. It turns out that the new TPR are surprisingly taxpayer friendly. Because we do so many tax returns that involve investment real estate, including owner occupied multifamily homes, we have needed to get familiar with

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Tax Refund Identity Testing

General Blog |

Although the tax season is over, we do occasionally still have clients coming in because they received a letter from the Internal Revenue Service or from the Department of Revenue demanding that they go online and verify their identity. Specifically, they are asked to go to a specific website and take an identity test. I

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IRS Has Refunds Totaling $1 Billion For People Who Have Not Filed A 2011 Federal Income Tax Return

Tax |

If people do not file their taxes on time, then they need to file their taxes late.  If you owe tax, then there is penalty and interest to pay for filing late.  If you receive a refund, then there is no penalty.  However, you need to file your tax return within three (3) years of

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