Blog Posts in April, 2021

The business of art is fertile grounds for the tax professional. Depending on the unique facts, a piece of art can never sell—or sell for millions of dollars. It can change hands once—or multiple ...

Employment taxes are expensive. Payroll taxes are expensive. Withholding taxes is an administrative burden. All true. But I remember a wise tax lawyer once saying to a group of us, “if you can’t ...

This blog series focuses on tax audits of attorneys. Why? Because I'm an attorney, and am highly interested in how attorneys wind up in hot water with the IRS. Even though this series focuses on ...

Attorneys practice their craft in a variety of ways. It’s their prerogative to charge clients and collect money as they see fit. They generally use the cash method of accounting, which means they ...

Below is a list of common tax mistakes by attorneys with respect to expense deductions. The blatant misuse of the below expenses could invite an unwanted tax audit. Claiming entertainment expenses ...

Attorneys: stop treating advanced client costs in contingency cases as deductible business expenses. They are not your expenses to take, contends the IRS. They are considered loans for tax purposes. ...