Raise Money Using a Self-Directed IRA

Tweet This clever twist on retirement fund investing could draw the patient investors business owners love. If you believe in your business and think it has the potential to be a long-term success, why not make an investment in it using your retirement plan? Can it be done? You bet it can, using a so-called [...]

Private Placements: What happens if you fail to file Form D (or file it late)?

Tweet Form D is a document that the SEC requires a company to file when it issues securities in a private placement under Regulation D. It must be filed with the SEC within 15 days of the first sale of a security in a private placement. In addition, for offerings made under Rule 506 (the [...]

Patient-Centered Outcomes Research Institute Fee

Tweet The Affordable Care Act imposes a fee on issuers of specified health insurance policies and plan sponsors of applicable self-insured health plans to help fund the Patient-Centered Outcomes Research Institute. The fee, required to be reported only once a year on the second quarter Form 720 and paid by its due date, July 31, [...]

Employment Law 101: How to Manage Unpaid Interns, Volunteers, and Trainees

Tweet Who, What, Why . . . Who does it apply to: Every employer who has or intends to hire unpaid interns. When must an intern be paid: All “employees” of a business must be paid at least minimum wage unless they are a “trainee” under the law, regardless of whether they are called an [...]

Gift Tax Returns: What You Need To Know

Tweet In the countdown to April 15, many people rushing to prepare their individual income tax returns will overlook another key tax document that’s due the same day: Form 709, covering taxable (or potentially taxable) gifts made during the previous year. Others, aware of the need to file, have questions as they prepare this form. [...]

Supreme Court Agrees To Hear Landmark Case On Whether States May Tax Income Earned In Other States

Tweet The Supreme Court had a busy day on Tuesday. When the dust settled, however, it had only granted one new case – but it was a big one. The nation’s highest court granted certiorari to Comptroller v. Wynne, setting the stage for a fight that could rewrite tax laws in states across the country. As noted before, [...]

Real Estate In Your IRA – How Not To Do It

Tweet Using IRA funds to invest in real estate can be a very good idea.  Well, at least I know one person for whom it worked out.  It did not, however, work out very well for Guy Dabney, who recently represented himself in Tax Court.  Every once in a while, people will ask me questions about what [...]

Taxpayer Bill of Rights

Tweet Since assuming her position in 2001, National Taxpayer Advocate Nina E. Olson has emphasized the protection of taxpayer rights in tax administration. In her 2007 Annual Report to Congress, and in later reports, she proposed a new Taxpayer Bill of Rights. On June 10, 2014, the IRS formally adopted the Advocate’s proposal, to renew [...]

Summer Camp 40% Off, Thanks Uncle Sam

Tweet Are summer camp costs adding up? If you send your kids to camp so you can work, Uncle Sam can help you cut the price by 20% to 40%. Summer camp? Really. Day camp counts as “dependent care” (aka child care), and there are actually two ways Uncle Sam helps subsidize  it—through the dependent [...]

Amendment in capital gain scheme 2012

Tweet Income tax department made the first amendment in capital gain account scheme 2012. In this amendment income tax department amended in the paragraph of 1, 2, 3, 4, 10, 13 and the forms A, C and G. Income tax department issued a notification no. 44/2012 dated 25 October 2012 about amendment in capital gain [...]

Short term capital gain will continue in FY 2013-14

Tweet Indian government does not want to abolish the short term capital gain tax on securities which is taxed 15% on listed securities and 30% on unlisted securities. The expert panel has recommended abolishing the short term capital gain to the government for better tax system in India. The panel which reviewed the anti-tax avoidance [...]

Cost inflation index for financial year 2014-15

Tweet Cost inflation index for the financial year 2014-15 is notified by income tax department. Cost inflation index is very useful to calculate long term capital gains as it saves a lot of amount of tax. Every year income tax department notifies Cost inflation index CII. Income tax department issued notification no. 31 dated 11 [...]

The Islands Treasured by Offshore Tax Avoiders

Tweet Did you know that United States companies earned $129 billion in 2010 in three small groups of islands? That is what they told the Internal Revenue Service they earned in Bermuda, the Cayman Islands and the British Virgin Islands. Those islands together had a population of 147,400 that year, about equal to that of [...]


Tweet WASHINGTON – Christopher B. Berg of Portola Valley, Calif., was sentenced yesterday to one year and one day in prison to be followed by three years supervised release, announced Assistant Attorney General for the Tax Division Kathryn Keneally and U.S. Attorney Melinda Haag for the Northern District of California. Prior to sentencing, Berg paid [...]

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