Blog Archives

The Power of Section 362

Hey everybody. Bernie Gartland, from the Garland Group. Today we’re going to talk about something that happened recently in a chapter 13 case. You know and I know that I have talked to you on podcasts, and also on our

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The Power of Division in a Corporation

Hey, everybody. Bernie Gartland from the Gartland Group. Now, there’s an expression, “What if? What if? What if?” Well, what if you’re a businessman, you form another division of your business, not a corporation, but a division of your business,

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FTB, California tax statute of limitations

What is the statute of limitations for tax collections in California. Put differently, how long does the state have hit me with taxes?  The typical myth is the statute of limitations is 3 years on a regular tax return, 6

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Posted in Blog, Tax Planning

Can the IRS take away your home?

Yep, they sure can. Its pretty rare for the IRS to sell your home. But they do have the right.  They even just released a new memo on the subject. If you are worried about losing your home to the

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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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Taxpayer claims Turbo Tax error caused $26,000 in penalties

What happens when you press “submit” on turbo tax?  How do you know for sure that the IRS and FTB received your tax returns? In a recent case before the Board of Equalization a taxpayer said they did everything right

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Posted in Blog, Tax Planning

Taxes on sale of coins

How much do you pay in taxes when you sell your precious metal coins?  That is going to depend a lot on how much you pay for the coins. The fancy legal word for how much you paid is your

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Getting an Installment Plan from the IRS is easy, right?

How hard is it to get the IRS to agree to accept a payment plan for your tax debt? For the most part it is relatively easy.  If you owe less than $25,000 you can go directly on the IRS

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Want a Nevada corp for privacy?

Your ability to be in stealth mode in regards to the IRS just got a little bit harder. Today the IRS released permanent regulations on employer identification numbers that effectively wiped out your ability to utilize “nominee services.” Nominee services

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