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Posts Tagged Minnesota tax lawyer

Bad Tax Policy – California’s Retroactive Tax Levy

We represent many businesses – everything from local “mom and pops” to a Fortune 150 company. What is the single biggest problem facing such a diverse group of business taxpayers? Bad tax policy; especially the lack of predictability and consistency. If you ask the general public what’s wrong with the tax system you are likely [...]

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Maine Becomes 12th State To Enact Expanded Sales Tax Nexus law

Earlier this month, Maine Governor Paul LePage signed into law a new expanded sales tax nexus bill. Maine now becomes the 12th state to enact so called “click through” sales tax nexus. The bill was widely supported by traditional downtown merchants. Sales tax nexus is anything but new. When most states enacted sales tax laws, [...]

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Trust Fund Recovery Penalty – Are You Liable?

The Trust Fund Recovery Penalty is a powerful weapon in the IRS’ arsenal. Under Internal Revenue  Code section 6672, responsible officers and individuals can become liable for unpaid trust fund taxes. These include most payroll taxes such as income tax withholding, social security and Medicare. That means if a business fails to pay these taxes, [...]

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C Corp, S Corp, LLC… REIT?

Real  Estate Investment Trusts (REIT for short) are the newest way some companies are seeking to avoid corporate income tax. According to a story published on June 8th in the Wall Street Journal, some companies are seeking to convert to REITs. The IRS, however, is not convinced those conversions are legal. REITs have been around [...]

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