Tag Archives: taxes

Amazon May Be Collecting Taxes Soon

Posted on March 8, 2017 by Camron Hoorfar

The state of Mississippi is now requiring that any company that sells items through the mail above $250,000 per year will be subject to collecting the state’s sales tax.  This means that companies such as Amazon and Quill will be … Continue reading →

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It’s a Girl

Posted on March 2, 2017 by Camron Hoorfar

Egg donors have to go through a barrage of tests and hormone therapies and as such are compensated rather well. The payout for enduring the process generally runs around $50,000 for those who make it through. In Perez v. Commissioner … Continue reading →

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You’ve Won a New Car

Posted on February 27, 2017 by Camron Hoorfar

If you win the prize on a game show in California you have to pay a 10% withholding tax at the conclusion of the filming of the show. So if you didn’t win cash or bring a stack of hundreds … Continue reading →

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Do You Believe in Miracles

Posted on February 24, 2017 by Camron Hoorfar

The United States Olympic Committee awards cash prizes for bringing home the gold, and silver and bronze. These prizes are taxable despite complaints from lawmakers that, like the games themselves, roll around every couple of years. However, for most athletes … Continue reading →

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The IRS Indicts an IRS Agent

Posted on February 15, 2017 by Camron Hoorfar

Former IRS employee Carla Mitchell, a 48 year old woman from Kansas City, Kansas, was indicted by a federal grand jury for filing false tax returns.  Carla is charged with filing false tax returns for herself and 13 of her … Continue reading →

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Taxation of Selling Your Home

Posted on January 27, 2017 by Camron Hoorfar

Taxpayers can exclude from their income up to $250,000 ($500,000 if you are married filing jointly) of any gain on the sale of your home.  However, you must have lived in the home for at least two years and used … Continue reading →

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No Tax Refunds until February 15, 2017

Posted on January 23, 2017 by Camron Hoorfar

Due to a new law, the IRS will not be issuing tax refunds on the Earned Income Tax Credit and the Additional Child Tax Credit until February 15, 2017.  The IRS will hold the entire refund until February 15, 2017. … Continue reading →

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Tax Evasion Means Jail Time

Posted on December 8, 2016 by Camron Hoorfar

A man from Peculiar, Missouri was recently sentenced to five years in prison for evading the IRS for over a decade in the amount of $1 million.  The man believed the government was corrupt and therefore did not recognize any … Continue reading →

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End of the Year Tax Tips

Posted on December 5, 2016 by Camron Hoorfar

According to Xero.com, here are a few end of the year tax tips for everyone to consider: Determine employee bonus payments and withhold the required tax amounts. Pay all vendors by year end. Prepare all payroll records. Review your profit … Continue reading →

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IRS Relaxes IRA Transfer Rules

Posted on November 30, 2016 by Camron Hoorfar

The IRS has recently relaxed a long-time rule punishing people who do not correctly transfer money from one retirement account to another within sixty (60) days of pulling out the money.  Now, the IRS offers some exceptions to this sixty … Continue reading →

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