Monthly Archives: February 2016

Taxpayer Bill of Rights

The IRS has issued bill of rights that every taxpayer has, and some of them are: You have the right to receive a tax notice informing you of the tax, interest, and penalties that the IRS claims you owe. If … Continue reading

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Plead Guilty, Lose Your Guns

In a recent Missouri Supreme Court case, a court ruled that a Defendant who pleads or is found guilty of certain crimes will lose their Concealed Carry Permit and will not be able to obtain a Concealed Carry Permit. If … Continue reading

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Drone Problems

These days, more and more people are flying drones for their leisure.  However, a drone operator does not have the right to fly their drone over your property.  If they do, the drone operator can be liable to you for … Continue reading

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Over-looked Tax Deductions

The end of this month marks the halfway point for the tax season.  If you haven’t filed yet, or you have filed but may want a second look, don’t forget about these often-over-looked deductions:  Investment losses up to $3,000 from … Continue reading

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Tips to Avoid an IRS Scam

Every year the IRS warns taxpayers regarding current tax scams.  In order to avoid being a victim of a tax scam, here are a few tips to remember: Avoid e-mails from the IRS. The IRS does not send e-mails to … Continue reading

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Construction Lawsuits

In cases of defective construction or work on a building, the owner of the building has the burden to prove the cost of repairing the defective work, unless the contractor shows that the cost of repair was unreasonable.  In addition, … Continue reading

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Setting Aside a Foreclosure Sale

A Missouri foreclosure sale can be set aside for multiple reasons, but if your only reason is that there was an inadequate purchase price at the foreclosure sale, then you will not be able to set aside the foreclosure sale.  … Continue reading

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Suing for Lost Profits

The Missouri Court of Appeals for the Western District has stated that a person or business cannot sue for lost profits unless their business is profitable and they have proof of that profitability. If you believe you may have a … Continue reading

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Invest in Christmas Trees

Internal Revenue Code 631 allows Christmas tree farmers to have their profits taxed at capital gain rates, instead of ordinary income rates like other businesses, as long as they sell Christmas trees at least 6 years old.  Christmas trees usually … Continue reading

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Family Loans

If you have ever made a loan to your spouse’s family member with no chance in sight of getting your money back, you may be able to get Uncle Same to help you out. A nonbusiness bad debt can be … Continue reading

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