Diamond & Diamond lawyers, Avi Top and Isaac Zisckind, were proud to host a seminar about the Non-Resident Speculation Tax (#NRST ) at Forest Hill Real Estate Inc., Brokerage - Central. Thank you to all the real estate agents who came out in full force to listen. A special thanks to the Brokers of Record in helping us co-ordinate this for their team.
LEGAL ENTITY STRUCTURE -- The MOST important aspect of a small business is the type of legal entity it utilizes. Most small businesses don't have a legal entity structure, which will really hurt you when it comes to your taxes and if you get in a lawsuit. The S-CORPORATION is the BEST way to run a small business and it is what my business utilizes. The s-corporation gives you legal protection in the event of a lawsuit and it has significant tax benefits as well. Which legal entity does your business utilize?? Contact us today at 562-230-7727 for a free 30 minute consultation on proper legal entity structuring and tax savings strategy! You can also email me directly at LOUIE@VAZQUEZANDFAMILYINC.com -- we look forward to hearing from you and having you a part of our family!! #taxes#accounting#income#expenses#money#ceo#legal#scorporation#llc#partnership#llp#ccorporation#scorp#entrepreneur#entrepreneurship#hustle#saturdays#motivation#cpa#vazquezandfamilyinc
So you owe the IRS, huh? Not fun. You didn't plan for this, didn't make estimated payments, and can't pay. What do you do?
You have several options, one of which is called Currently Not Collectible. This option allows you to put your account in temporary uncollectible status pausing all collection activities. .
Of course there is a process you must go through to apply but if you have very little to no money left at the end of the month this option is worth exploring.
If you want to explore this option, hit the email link in the bio to start the conversation.
NEW VIDEO! This year I had to learn a lot about taxes & I share some of what I learned in today's episode, Why are #taxes important? LINK IN BIO. ( If you don't care at least watch it for the bits, I have a few good ones in there 😂 )
@Regrann from @beardbros_pharms - Federal tax agents are trawling a Colorado database designed to track pot from seed to sale as a way of proving licensed marijuana businesses are illegally trafficking in the drug.
The tactic is the latest in the Internal Revenue Service’s efforts at ensuring the otherwise-legitimate businesses cannot claim federal tax deductions, the companies say. The tax code prevents businesses that traffic in illegal drugs from claiming deductions.
At least six businesses, most recently the owners of Rifle Remedies, a medical marijuana business in Silt, have separately filed petitions in U.S. District Court to quash IRS summonses for state records that show how much pot the companies have grown and sold over a number of years.
The businesses say the IRS is essentially conducting a criminal investigation that has nothing to do with taxes, an overreach of its authority.
The state’s Marijuana Enforcement Division uses a tracking system known as METRC to monitor the growth and movement of pot statewide. Each plant has a specific code attached to it and every batch of product is traced to the point of sale.
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FAQ: A neighbor slips on my sidewalk and threatens to take me to court for damages. Does my homeowner policy protect me?
Yes. Homeowners insurance will pay for damages, if the accident is the result of your negligence. It will also pay for the legal costs of defending you against a claim. Also, the medical payments part of your Homeowners policy will cover medical expenses arising from an injury to a neighbor or guest. Your local @drivenowinsurance agent can periodically review your policy limits with you when you are making coverage decisions.