Blog Archives

TimeShare Freedom

Hey everybody, Bernie Gartland from the Gartland Group. Today I’m going to talk to you about something that is most unusual and I’m going to give you kind of a teaser. The teaser is this, many, many, many of you

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The Power of the 401K

Bernie Gartland: The name of this segment is Taxes, the IRS and You and I’m Bernie Gartland with the Gartland Group and sitting next to me is Byron Bauer of American Tax Centers. Byron, we’re going to talk a little

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Strategy – Filing Two 1040’s – 1398D Part 2

The last blog we talked about section 1398 (d) of the Internal Revenue Code, and how it can save your home. We said, “1398 (d) says, ‘You can file two tax returns for the same year,’  that’s the Internal Revenue

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IRS audit rate to drop 20%

The Government Accountability Office (GAO) just released a report saying that IRS funding has dropped $900 million  from fiscal year 2010. What does that mean?  You guessed it, a lower audit rate.  The GAO is predicting that the average audit rate

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No Income? Don’t worry, the FTB will tax that too.

What if you didn’t make any money for the last few years?  Do you think the franchise tax board would still try to tax you?  You probably already know the answer. Today’s case highlights an interesting procedure of the franchise

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Is the IRS going to audit you because of your high deductions?

How does the IRS determine who they are going to audit?  Rumor has it that one way the IRS determines if they are going to audit you or not is to compare your deductions with the deductions of similar taxpayers.

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How many tax free rollovers can you make a year? Even tax attorneys mess this up!

How many IRA rollovers are you allowed to make in a year?  The IRS publications say you are allowed one per account per year.  Amazingly enough the IRS publication is wrong.  You are only allowed to make one tax free

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Fighting the IRS, you’ve got to know when to fold

A recent decision by the Court of Federal Claims should send shivers down the spine of everyone who wants to fight wrongful IRS determinations.  In short the decision said the IRS can win attorneys fees against individuals if the individual

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Posted in Blog, Tax Planning

Avoiding Tax Preparation Penalties

Are you using a tax preparer or a tax advisor?  A tax preparer is just someone or something (software) that blindly accepts your information, puts it on a form, and hopes for the best.  This is a great way to

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New IRS Audit Strategies

They say that a lot of business is done on the golf course. Along the same lines a lot of IRS information isn’t formally issued, rather an IRS rep provides the info at a conference. That happened this weekend at

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