[hr] How to Form an S-Corporation in Nevada First you need to set up an LLC or Corporation with the Nevada Secretary of State. You can set it up online at http://nvsos.gov/. I recommend using a licensed attorney to help you set up your corporation or LLC because if it is not done properly you could […]
Partner in the law firm Cort Arlint is running for Nevada Controller in 2014. Cort brings over 10 years public accounting experience as well as his work in the legal profession. He took part auditing the State of Nevada during 2005-2007 while working for Kafoury and Amrstrong CPAs. The unique combination of accounting and law […]
What is an LLC? In an LLC, owners have limited personal liability for the debts and actions of LLC, similar to a corporation. The benefits of pass-through taxation and flexibility, much like a partnership, make LLCs an attractive business structure. An LLC is an entity created by state statute. A Limited Liability Company (LLC) is […]
When you need a tax professional who should you turn to? Well, it depends on how complicated your taxes are and how much money is at stake. Here is some information to guide you in your decision. There are four different types of tax professionals 1) general preparer 2) enrolled agent 3) certified public accountant […]
An IRS audit is a review/examination of an organization’s or individual’s accounts and financial information to ensure information is being reported correctly, according to the tax laws, to verify the amount of tax reported is accurate. Publication 556, Examination of Returns, Appeal Rights and Claims for Refund explains the audit process in more detail. […]
RE: Tax Issues Canadians Owning Rental Property in US Monday, November 14, 2011 1.0 Summary. As a Canadian owning rental property in Nevada you will have to file income taxes in the United States. The type of return you file depends on the number of days you spend in the U.S. and your other […]
How to Report Suspected Tax Fraud Activity Suspected tax fraud can be reported to the IRS using Form 3949-A, Information Referral. The completed form or a letter detailing the alleged fraudulent activity should be addressed to the Internal Revenue Service, Fresno, CA, 93888. The mailing should include specific information about who is being reported, the […]
1. Hiding Income Offshore The IRS aggressively pursues taxpayers involved in abusive offshore transactions as well as the promoters, professionals and others who facilitate or enable these schemes. Taxpayers have tried to avoid or evade U.S. income tax by hiding income in offshore banks, brokerage accounts or through the use of nominee entities. Taxpayers also […]
The IRS knows about these common tax scams and are pursing individuals who participate in them with fines and penalties. 1. Hiding Income Offshore The IRS aggressively pursues taxpayers involved in abusive offshore transactions and the promoters who facilitate or enable these schemes. Taxpayers have tried to avoid or evade U.S. income tax by hiding […]
An IRS audit is a review/examination of an organization’s or individual’s accounts and financial information to ensure information is being reported correctly, according to the tax laws, to verify the amount of tax reported is accurate. Publication 556, Examination of Returns, Appeal Rights and Claims for Refund explains the audit process in more detail.