New York City Debt Collection Defense & tax Attorney

Blog Posts in 2021

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  • Sample Tax Audit of an Attorney: Look at these burdensome Demands!
    Sample Tax Audit of an Attorney: Look at these burdensome Demands!

    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 ...

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  • Attorneys: Beware of these Four Tax Audit Triggers
    Attorneys: Beware of these Four Tax Audit Triggers

    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 ...

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  • 6 Common Tax Mistakes by Attorneys Relating to Expenses
    6 Common Tax Mistakes by Attorneys Relating to Expenses

    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 ...

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  • Attorneys: Stop Treating Advanced Client Costs as Business Expenses
    Attorneys: Stop Treating Advanced Client Costs as Business 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. ...

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  • Who is Liable for Employment Taxes in Wake of Covid-19 Business Closures?
    Who is Liable for Employment Taxes in Wake of Covid-19 Business Closures?

    Temporary Relief Followed by Potential Liability for Employment Taxes New York’s PAUSE Order aimed at mitigating the spread of COVID-19 unavoidably devastated business income. Because of that, NYS ...

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  • Bonus Depreciation of Business Assets: 7 Hot Questions
    Bonus Depreciation of Business Assets: 7 Hot Questions

    1) First of all, what is bonus depreciation? Designed to stimulate investment in business property (not land or buildings), the Internal Revenue Code, under the Tax Cuts and Jobs Act of 2017 (TCJA), ...

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