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Monthly Archives: August 2022
Law Office of Camron Hoorfar Says Farewell After Fourteen Years in Business
On September 1, 2022, the Law Office of Camron Hoorfar, P.C. will be the Law Office of Tyler Gibson, P.C. After fourteen (14) years in business, attorney Camron Hoorfar has sold a portion of his practice to attorney Tyler Gibson. … Continue reading
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Pandemic Did Not Support Impossibility Defense
In an action for breach of contract, on a motion for summary judgment, defendant raised the affirmative defense that performance was impossible. That defense requires proof that defendant did “virtually” everything “within its powers to perform its duties under the … Continue reading
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What you should know about crowdfunding and taxes
Crowdfunding is a popular way to raise money online. People often use crowdfunding to fundraise for a business, for charity, or for gifts. It’s important to know that money raised through crowdfunding may be taxable. Some money raised through crowdfunding … Continue reading
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A Golf Cart Can Be an Exempt Motor Vehicle
Those no longer able to drive cars will be pleased to learn that a golf cart can be exempt as a “motor vehicle,” at least in Oklahoma. Bankruptcy Judge Janice D Loyd of Oklahoma City said that hers was the … Continue reading
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Peculiar Business Owner Pleads Guilty to Tax Evasion
The owner of a Peculiar, Mo., business pleaded guilty in federal court to tax evasion. Jason Rigoli, 42, waived his right to a grand jury and pleaded guilty before U.S. District Judge Stephen R. Bough to a federal information that … Continue reading
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Missouri used car salesman hid over $300,000 in commissions from IRS
A used car salesman from Imperial, Missouri, appeared in federal court and confessed to hiding over $300,000 in sales commissions from the IRS. Prosecutors with the U.S. Attorney’s Office for the Eastern District of Missouri said Donald Benck pleaded guilty to … Continue reading
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College students should study up on these two tax credits
Anyone pursuing higher education, including specialized job training and grad school, knows it can be pricey. Eligible taxpayers who paid higher education costs for themselves, their spouse or dependents in 2021 may be able to take advantage of two education tax … Continue reading
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New school year reminder to educators: maximum educator expense deduction rises to $300 in 2022
As the new school year begins, the Internal Revenue Service reminds teachers and other educators that they’ll be able to deduct up to $300 of out-of-pocket classroom expenses for 2022 when they file their federal income tax return next year. … Continue reading
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IRS announces interest rate increases for the fourth quarter of 2022; 6% rate applies to most taxpayers starting Oct. 1
The Internal Revenue Service today announced that interest rates will increase for the calendar quarter beginning Oct. 1, 2022. For individuals, the rate for overpayments and underpayments will be 6% per year, compounded daily, up from 5% for the quarter … Continue reading
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Americans’ Credit Card Debt Had the Biggest Jump in More than Two Decades
Americans added an additional $46 billion to their credit card debt during the second quarter amid the ongoing decades-high inflation. Balances saw the most severe increase in over 20 years, according to the Federal Reserve Bank of New York. Credit … Continue reading
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