Tag Archives: taxes

Employers Must Deal with a New W-2 Deadline

Posted on November 7, 2016 by Camron Hoorfar

Due to a recent federal law, employers no longer have until February 15 to submit their W-2s to their employees, the IRS, and the Social Security Administration.  Instead, the deadline has been pushed back to January 31.  This deadline also … Continue reading →

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Going to Prison for Tax Fraud

Posted on October 24, 2016 by Camron Hoorfar

An Overland Park, Kansas resident, who owned a trucking company, was assessed tax penalties of $669,037 and was sentenced to 33 months in federal prison.  The Kansas resident was accused of tax evasion for filing a false statement with the … Continue reading →

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Paying Taxes on the Sale of Your Home

Posted on September 21, 2016 by Camron Hoorfar

Normally, taxpayers do not have to pay any income tax on $250,000 ($500,000 if married filing jointly) in profit from selling your home.  However, if you did not own the home for at least two (2) years of the previous … Continue reading →

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The IRS May Have Lost Your Identity

Posted on September 13, 2016 by Camron Hoorfar

Last month it was discovered that the IRS realized that illegal immigrants stole more than 1 million Social Security Numbers from Americans.  To make matters worse, the IRS knew about the problem five (5) years ago but never told anyone … Continue reading →

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Children: All for the Sake of the Tax Breaks

Posted on August 25, 2016 by Camron Hoorfar

Hiring your kids at your business can have many benefits from teaching kids valuable life skills to getting some awesome potential tax breaks. First, payroll and unemployment taxes may not apply. If you run a single-member LLC, a spousal partnership, … Continue reading →

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That’s Insane! Part Five:

Posted on August 23, 2016 by Camron Hoorfar

Next in the insane ways people avoid taxes we have Lamar Odom, a NBA player who was making $9.3 million in 2007 but felt personally victimized by the IRS when we has told he couldn’t deduct $172,000 for “fitness fees” … Continue reading →

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That’s Insane! Part Four:

Posted on August 19, 2016 by Camron Hoorfar

For another installment of insane world of tax deductions, we take a look at, now aptly name, Chesty Love. This exotic dancer was able to successfully sue the IRS for her new breast implants to be considered a business deduction. … Continue reading →

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That’s Insane! Part Three:

Posted on August 18, 2016 by Camron Hoorfar

Our series of ridiculous tax avoidance tactics continues with corrupt businessman William Zack and his illegal bribes. Mr. Zack ran several companies throughout the years that apparently weren’t making him enough money. In 1984, he began doing business with Ford … Continue reading →

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That’s Insane! Part Two:

Posted on August 16, 2016 by Camron Hoorfar

Next up in our series of crazy ways people have legally avoided taxes is Jan Van Dusen, the definition of a crazy cat lady. At one point, Ms. Van Dusen had taken in so many cats that she was caring … Continue reading →

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That’s Insane! Part One:

Posted on August 15, 2016 by Camron Hoorfar

This series will outline some of the most insane ways people have legally avoided paying taxes. Remember, these posts are just to give you a glimpse into the sometimes odd thinking of the US Tax Court, not to give you … Continue reading →

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