by Pierre Philantrope | Mar 12, 2025 | Tax Tip
In Warren v. Commissioner of Internal Revenue Service, T.C. Summary 2024-20, the Tax Court held that a taxpayer who purchased and renovated a single family home to open an assisted living facility (i.e., group home) while also employed full-time by Lockheed...
by Pierre Philantrope | Mar 5, 2025 | Tax Tip
The Internal Revenue Service (IRS), in some cases, audits tax returns to ensure that taxpayers correctly pay their tax due. Knowing what the IRS looks for during an audit and getting prepared in case of an audit save taxpayers time and money. A tax audit can go on for...
by Pierre Philantrope | Feb 26, 2025 | Tax Tip
IRS tax problems could be extremely complicated. Many taxpayers attempt to resolve the problem themselves. Some taxpayers just live with the problem for months and sometimes years, assuming that nothing can be done about it or the debt will just disappear. IRS...
by Pierre Philantrope | Feb 12, 2025 | Tax Tip
Your decision to start a business should start with tax planning. You need to meet with a tax professional to discuss your decision to start a business, to purchase a business, or to purchase a franchise. This should be the most important step. As a potential business...
by Pierre Philantrope | Feb 5, 2025 | Tax Tip
Many married couples frequently ask the question: Should we file our tax jointly or separately? The answer: It depends. Taxpayers financial circumstances could be very different. There are many factors to consider to determine the filing status that could be more...
by Pierre Philantrope | Jan 22, 2025 | Tax Tip
Taxpayers should ensure that they have and produce all their required tax documents when filing their tax return. Taxpayers should have an open discussion with their tax preparers before filing their tax return to ensure that all relevant documents are produced to...
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