USTaxAid Services

Every week I do FREE! tax reviews of past tax returns. In many cases, I find easy solutions that would have saved the taxpayer tens of thousands of dollars in taxes each and every year. In a few cases, I can’t find anything and I’m the first one to say that. I never want to ...

What have you heard about C Corporations?  It seems that people either think they are the best thing since sliced bread or the stupidest idea ever. Recently I reviewed the tax returns for a prospective client.  This is a FREE! service that we do for any business owner or investor who asks.  I personally will ...

I had to tell someone yesterday that it was too late to save him $9,500 from his tax bill.  That’s because he’d already filed his 2008 tax return and THEN sent it in for me to review. I can tell you exactly what would have happened if he’d sent in a draft of his return ...

The news has been full of stories of loss:  lost houses, lost businesses, lost real estate, lost investments, lost hope, lost lives.  And without a doubt, some of my clients have experienced that too. And many of them have already picked themselves up after the loss and are quickly moving on to bigger and better ...

My husband just got an email that’s one of those good news/bad news type of deals.  The writer had a fantastic 2008.  He made money hand over fist.  The problem was, he’d just come off a series of really bad years with lots of losses and had no money to pay his taxes.  Now what? ...

As a CPA/Tax Strategist and serial entrepreneur, I love working with business owners.  We’re in a time of a lot of flux right now and for some it means just one more day hanging on is the best win of all.  Competition is dropping and that means they’re positioned best for when it turns, and ...

Years ago, the government gave us a new deduction called a “production deduction”. It started off at 3%, but over time has been going up. In fact, in 2010, it’ll be up to 9%. I keep seeing this deduction missed on new client’s past tax returns. If you have a business that produces or improves ...

It’s tax filing season again and that means a lot of real estate investors are struggling with how to report real estate losses.   The sad fact is that real estate that you own and hold with a loss is a passive loss.  At best, you participate in its management so you can claim a ...

If you haven’t yet filed your tax return (and this year is the year you probably REALLY want to extend it due to all the uncertainty with 2009 tax law), you can still select how you want your LLC to be taxed. So, for example, let’s say you have a single member LLC and you ...

Most of the time when I review past returns for new or prospective clients, I find mistakes that we can fix.  There are a few that we can’t.  I’ve dealt with all kinds of outrage when my new clients discover they have overpaid taxes because some strategies didn’t work or because the return wasn’t properly ...