Tag Archives: taxes

Tax Department Can Estimate Your Business Income

Posted on January 18, 2018 by Camron Hoorfar

The Missouri Department of Revenue is able to review your bank statements and credit card transactions, among other documents, to determine how much money you made and whether you accurately reported your income.  If you do not provide them with … Continue reading →

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Upcoming Tax Deadlines

Posted on January 15, 2018 by Camron Hoorfar

Partnerships and S Corporations must file by March 15, 2018 C Corporations must file by April 17, 2018 Individuals must file by April 17, 2018 IRA contributions for 2017 can be made until April 17, 2018 If you would like … Continue reading →

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IRS Accepting Returns this Month

Posted on January 10, 2018 by Camron Hoorfar

For the 2017 tax year, the Internal Revenue Service will be accepting tax returns beginning January 29, 2018.  The Internal Revenue Service will be issuing tax refunds for the earned income credit on February 27, 2018.  The last day to … Continue reading →

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Rapper DMX Pleads Guilty to Tax Fraud

Posted on December 19, 2017 by Camron Hoorfar

Rapper DMX has pled guilty to tax fraud, admitting he hid millions of dollars from the IRS in order to try and save $1.7 million in taxes.  DMX is currently undergoing rehabilitation for drug and alcohol issues. If you have … Continue reading →

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Vitamin World to Close 124 Stores

Posted on December 11, 2017 by Camron Hoorfar

Vitamin World has hired a company to assist it with shutting down 124 stores in 30 states. If you have a business that is struggling financially, and you would like to speak to an attorney, contact our law office at … Continue reading →

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IRS Refuses Money from Disgraced Attorney

Posted on December 8, 2017 by Camron Hoorfar

A Texas attorney, who is facing up to 20 years in a federal prison, tried to pay the IRS $82,400 towards his back taxes.  However, the IRS refused the money because the IRS believes the attorney stole the money from … Continue reading →

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Tax Tips for the 2017 Tax Year

Posted on December 6, 2017 by Camron Hoorfar

Here are a few end of the year tax tips for 2017 before the new year: Take steps to accelerate your deductions Maximize your retirement contributions Bulk up your estimated tax payments Meet with your tax adviser If you are … Continue reading →

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Business Cats

Posted on November 21, 2017 by Camron Hoorfar

A 2001 tax court case allowed a business man who owned a junkyard to deduct the cost of cat food for stray cats. The junkyard owner was feeding the stray cats to attract then to his junkyard in order to … Continue reading →

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Starving Artists

Posted on November 20, 2017 by Camron Hoorfar

For artists who have always wanted to pursue their dreams of being poor in pursuit of their art, but who have worried about how to pay their minuscule tax bill, there is a special deduction to the rescue. This deduction … Continue reading →

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Drugs and the Tax Man

Posted on November 14, 2017 by Camron Hoorfar

Regardless of whether their activities are legal under state law, drug dealers have to deal with special tax laws designed to discourage their activities. IRC 280E states that any deductions from an illegal drug business  are not allowed. The definition … Continue reading →

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