The bar-sponsored calendar call program, established by the Tax Court, helps those Petitioners who are representing themselves to get some assistance from the various Low Income Tax Clinics (LITCs) across the country to receive assistance from...
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Every successful entrepreneur remembers the day — probably the moment — that the lightbulb switched on and the business gears in their head started turning. It was the realization that a passion could be turned into a profitable business, or a...
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The increase of social media influencers could present taxpayers, practitioners and the IRS with opportunities to apply long standing tax rules in a variety of new situations. With platforms like YouTube and Instagram allowing people to collect...
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The Employee Retention Tax Credit (ERTC) is a credit that eligible businesses can claim on qualified wages. The IRS recently extended the deadline through Dec. 31, 2021 and expanded who is eligible to claim the credit. Learn more about taking...
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As the world emerges from COVID and returns to a more normal environment, tax practitioners are facing an increase in compliance efforts and controversies not only in the U.S., but globally. In an interview with Accounting Today, Fineman West...
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Real estate investments often show taxable losses, even though they have positive cash flows. In his RE Business Online article, “How Real Estate Investors Can Benefit From Losses, Exclude Gains,” Principal Jeffrey Dunn examines the different...
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If you took some losses this year in the stock market do not fret, you might be able to deduct your losses. There are many important tax implications to consider when trading, including key definitions, and applications with capital gains/losses...
Read moreFineman West has been ranked by The Los Angeles Business Journal as one of the largest accounting firms in the Los Angeles County for 2021. This ranking marks the firm’s second consecutive spot on the annual list. Fineman West provides...
Read moreThe CP2000 Notice is a notice that the IRS uses when “routine matching” to ensure W2s and 1099s are matched against the tax returns filed. If a mismatch occurs, the taxpayer can either pay the calculated tax, or offer explanations as to why the...
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Client: Aviation Logistics Company Challenge: The company was being audited by IRS but had lost most documentation in a tsunami. Based in Japan, the company had a severely limited ability to communicate regularly with individuals in the U.S., due...
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Client: Real estate brokers Challenge: A married couple’s real estate brokerage firm was selected by the IRS for a reasonable compensation employment tax audit. The IRS was investigating the years before the couple hired a new CPA, who brought...
Read moreRecent law changes have significantly expanded and increased benefits for employers. We’ve highlighted the new benefits and requirements below. Expanded Paycheck Protection Program (“PPP”) and Employee Retention Credit (“ERC”) Benefits Assuming...
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