First Steps to Establishing Your New Business: Know Your Business Taxes!

Posted on by Moskowitz LLP Business Law, State & Local Taxation, Tax Planning & Compliance, Tax: Audits, Litigation & Collection,
Other Posts in this Series Choosing the Right Business Structure for You, Part I Choosing the Right Business Structure for You, Part II The Initial Paperwork Other Filings, Other States Management and Risk Your company is responsible for various types of business taxes, and if you don’t comply you could...
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First Steps to Establishing Your New Business: Other Filings, Other States

Posted on by Moskowitz LLP Business Law, State & Local Taxation, Tax Planning & Compliance,
Other Posts in this Series Choosing the Right Business Structure for You, Part I Choosing the Right Business Structure for You, Part II The Initial Paperwork Know Your Business Taxes Management and Risk Establishing a new business is more than just submitting some initial paperwork to register with the state....
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IRS Blocks SALT Cap Workarounds

Posted on by Moskowitz LLP Tax Planning & Compliance, State & Local Taxation, Tax: Audits, Litigation & Collection,
Attempts to Circumvent $10,000 SALT Cap Blocked The U.S. Treasury Department recently issued a new regulation stating that taxpayers cannot claim that they made a charitable contribution if they received a state tax credit in exchange for a “gift” to a state fund. This rule effectively blocks state proposals aimed...
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A Few Words on President Trump’s New Supreme Court Pick

Posted on by Moskowitz LLP Tax: Audits, Litigation & Collection, Tax Planning & Compliance,
Immediately following Justice Kennedy’s July 31, 2018 announcement of his retirement, Brett Kavanaugh, a prominent conservative D.C. Circuit Court judge, received a call from the President. This marks Donald Trump’s second opportunity to appoint a Supreme Court Justice. Since his nomination on July 9, 2018, Kavanaugh has been the subject...
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First Steps to Establishing Your New Business: Choosing the Right Business Structure for You, Part II

Posted on by Moskowitz LLP Tax Planning & Compliance, Business Law,
Other Posts in this Series Choosing the Right Business Structure for You, Part I The Initial Paperwork Other Filings, Other States Know Your Business Taxes Management and Risk In Part I, we described four types of business structures: informally structured sole proprietorships and general partnerships, and two common corporate entities...
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First Steps to Establishing Your New Business: Choosing the Right Business Structure for You, Part I

Posted on by Moskowitz LLP Business Law, Tax Planning & Compliance,
Other Posts in this Series Choosing the Right Business Structure for You, Part II The Initial Paperwork Other Filings, Other States Know Your Business Taxes Management and Risk Turning your business idea into reality can be exciting and gratifying. Before you get started, however, you need to decide how your...
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California’s Attempts to Circumvent the New Tax Law’s SALT Limitation

Posted on by Moskowitz LLP State & Local Taxation, Tax Planning & Compliance,
Reports indicate that low-income and middle-class Californians are fleeing the state – most are relocating to Arizona, Nevada, and Texas. The reason? Housing costs and high taxes. The new tax law hasn’t necessarily helped wealthy California homeowners, either. For one thing, the Tax Cuts and Jobs Act (TCJA) capped their...
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$125,000 State Tax Problem Fixed by Correcting Previous Years’ Tax Returns

Posted on by Moskowitz LLP Business Law, State & Local Taxation, Tax Planning & Compliance,
A Moskowitz LLP Success Story A business owner came to us after receiving a Franchise Tax Board (FTB) Notice. The Notice stated that the FTB was disallowing a $1,204,541 million corporate loan to shareholder, and consequently assessed $125,197 in additional state income taxes. There is a long history of IRS...
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Taxpayer Win: Failure to File Accurate FBAR Deemed Not Willful, Part IV

Posted on by Moskowitz LLP Business Law, Tax Planning & Compliance, Tax: Audits, Litigation & Collection,
Other Posts in this Series Part I Part II Part III The story of Arthur Bedrosian, CEO of Lannett Company, Inc., and his Swiss bank accounts shows how a taxpayer’s cooperation with an IRS investigation and the court’s belief in the taxpayer’s honesty can be significant factors in the outcome...
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Taxpayer Win: Failure to File Accurate FBAR Deemed Not Willful, Part III

Posted on by Moskowitz LLP Tax: Audits, Litigation & Collection, Business Law, Tax Planning & Compliance,
Other Posts in this Series Part I Part II Part IV Before the Offshore Voluntary Disclosure Program (OVDP), it was rare for a taxpayer to pay penalties when they voluntarily came forward with information regarding their foreign accounts. Most tax practitioners, therefore, recommended that their clients do a “quiet” disclosure,...
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