Tax Preparation Archives - Page 2 of 2 - Brotman Law - All Rights Reserved | 402 W Broadway, Suite 800 • San Diego, California 92101

Who Can Get a California Sales Tax Exemption?

August 12, 2024June 1, 2016 by Brotman Law

If you own a business which produces tangible goods, then you are obligated to pay sales tax to the Board of Equalization. There are, however, a number of exemptions to this rule, some of which apply to various types of goods and others which attach to certain buyers. It is important to understand which types of business can get a partial or full sales tax exemption and the consequences for improperly failing to pay sales or use tax. Sales tax is a complex area of law, with a huge range of exemptions that apply to various goods or types of sellers. Penalties for failing to pay sales tax are steep, so a little knowledge now can keep you from a huge liability later.

Circular 230: An Overview

August 12, 2024November 13, 2013 by Brotman Law

Circular 230[1] is a publication of the U.S. Treasury regulations that include the rules that govern the practice of licensed professionals before the Internal Revenue Service.[2] These rules apply to those qualified and licensed to prepare tax returns and provide legal advice to do certain things within the boundaries of the field, including this San Diego tax attorney. The rules both encourage and prohibit certain conduct. Penalties are assessed when an admitted member is found to be non-compliant. With this in mind, rules of Circular 230 apply to attorneys, certified public accountants, enrolled agents, enrolled actuaries, appraisers, and enrolled retirement plan agents.

IRS Form 1099: Informational Returns – Part Two

August 12, 2024November 12, 2013 by Brotman Law

Continued from: IRS Form 1099: Informational Returns – Part One

IRS Form 1099: Informational Returns – Part One

August 12, 2024November 12, 2013 by Brotman Law

Information returns are tax documents that businesses are required to file to report certain business transactions. Businesses are required to file these reports to the Internal Revenue Service. The requirement to file information returns is mandated by IRS and related regulations. “Any person, including a corporation, partnership, individual, estate, and trust, who make reportable transactions during the calendar year must file information returns to report those transactions to the IRS” (IRS.gov, “Information Returns by Form,” 8/31/2013). Persons required to file one or more information returns will also be required to furnish statements to their respective recipients (IRS.gov, “Information Returns by Form,” 8/31/2013). Filers with 250 or more recipients must file their returns electronically.

Checklist For Choosing a Tax Preparer

August 12, 2024September 30, 2013 by Brotman Law

I have prepared a list of tips to help you chose a tax preparer and to make sure they are doing the job that you hired them for.

How to Choose an IRS Tax Return Preparer – Part Two

August 12, 2024September 30, 2013 by Brotman Law

In addition, I wanted to discuss IRS tax return preparers that I will identify as “others.” This would include enrolled agents, bookkeepers, and national tax preparation chains. Let us be clear from the outset: I know several of these individuals who are excellent and who I would trust with my own return (if the need for someone else to prepare my return ever arose). These people often make a great living or have a decent side business from preparing returns and are quite knowledgeable. Experience is the number one thing to look for when choosing an IRS tax return preparer.

How to Choose an IRS Tax Return Preparer – Part One

August 12, 2024September 30, 2013 by Brotman Law

Introduction to Choosing a Tax Return Preparer

Tax return software, although extremely popular, is often only as smart as its user. I have amended numerous returns for individuals who have made serious errors using tax software. These have ranged from a family member missing out on a $2,000 refund due to sales tax deductions they did not report to a client who missed out on over $200,000 due to failing to properly account for net operating losses. It is important not to be pennywise and pound foolish. For anyone with more than a single W-2, who itemizes their deductions, has a Schedule C business, makes stock trades, or has had other complexities in the life that they may believe impacts their tax returns, please, please, please make the investment in order to have a professional tax return preparer prepare your taxes.

Tax Season Survival Tips

August 12, 2024September 29, 2013 by Brotman Law

Introduction

Every tax season, many fear the tax return preparation process. Preparing and filing your taxes can be complicated and costly; not to mention the impending fear of owing money to the government. Tax season should not be this stressful though. With a little advanced planning and by following a few simple tips, you can make tax season painless as possible. Here’s how to make it through your annual filing obligation and save yourself both time and money.