Entries by Tax Attorney

IRS Providing Resources To Help Cannabis Businesses Meet Their Tax Responsibilities

You should know that when the IRS wants to talk about a particular business sector that it is usually a sign that such business sector is identified as having a high potential for non-compliance and thus more tax revenues. On September 27, 2021, De Lon Harris, the Commissioner of the IRS Small Business/Self Employed (SB/SE) […]

Tax Planning In The Era Of COVID-19 – What You Need To Know About Business Meals And Advertising And Marketing Costs

Tax Planning In The Era Of COVID-19 – What You Need To Know About Business Meals And Advertising And Marketing Costs The Consolidated Appropriations Act, 2021, Pub. L. No. 116- 260, 134 Stat. 1182 (December 27, 2020) amended §274 of the Internal Revenue Code (Code) providing a temporary 100-percent deduction for expenses that are paid […]

Another Leak Of Taxpayers Allegedly Involved In Hiding Assets Offshore – What You Need To Know About The “Pandora Papers”

Another Leak Of Taxpayers Allegedly Involved In Hiding Assets Offshore – What You Need To Know About The “Pandora Papers” A compilation based on 11.9 million financial records uncovers more than 100 billionaires, 30 world leaders and 300 public officials and their use of offshore accounts to avoid taxes or otherwise hide ownership of assets. On […]

Coming To The 2022 California State Fair: The First-Ever Cannabis Awards Competition

On September 21, 2021 the California State Fair announced the addition of the first-ever, state-sanctioned cannabis competition and awards. Organizers of the California State Fair Cannabis Competition and Awards stated that this competition will “join a roster of coveted, annual competitions celebrating California’s rich agricultural history and dynamic industries including wine, craft beer, olive oil […]

Tax Planning in 2021 – Make Sure You Are Getting All The Economic Stimulus And Tax Credits You Deserve From Tax Law Changes

The COVID relief legislation signed into law, specifically the COVID-19 Economic Relief Bill in December 2020 and the American Rescue Plan in March 2021 include a number of provisions that provide economic stimulus and tax credits that could impact your 2021 tax return. Child Tax Credit For 2020, the credit was worth $2,000 per child […]