USTaxAid Services

Richard and I moved to Baja California full time in 2009. We’d taken a major economic hit in 2008 and thought it was time to just semi-retire at the beach.  We spent a lot of time traveling, gardening, hanging out at the beach and a little bit of time working.  Then things changed, this time ...

Would you rather have a half million dollar company or a million dollar company? If you answered, “It depends”, then you get to go to the front of the class. Usually when you hear the term “million dollar company”, “multi-million dollar company” or the like, it refers to the gross sales of the company. So ...

Got a question? Here’s how you can get your questions answered: http://www.ustaxaid.com/got-a-tax-question/ We recently received a question about bringing a partner into an LLC. My partner, Megan Hughes, answered the question about how much or little you can give to an LLC and still have a legitimate multi-owner LLC. You can go here to http://www.smartbusinessincorporation.com/blog/how-much-or-little-can-an-llc-member-own/ ...

It never fails that I get a new tax client in late fall who hasn’t been paying attention to his business. Or rather, he’s been so busy with his business that he didn’t pat attention to his growing tax issues. If you have a business that is taxed as a Sole Proprietorship either because you ...

We continue to get a lot of questions about real estate professional status. If you have a question, please go to http://www.ustaxaid.com/got-a-tax-question/ to find out how you can get an answer. Here is a question we recently received: “My questions: 1. – For tax purpose, if we file the LLC as a business, not a ...

We recently received this question regarding Real Estate Professional status for an ongoing business. “I formed an LLC with a partner in 2002. The business is involved with real estate (acquire land and develop, acquire existing building fixed up for sale or rent). However, the other partner opted out in 2004 and the business became ...

We had a lively discussion on business structures on this past Saturday’s webinar. If you missed it, you can catch up on this and other archived webinars at: http://www.USTaxAid.com/insiders-club/ Here’s one of the questions we weren’t able to get to in the allotted time. “I am a realtor, I have my rental properties set up ...

Megan and I did a webinar this past Saturday on “How IRS-Risky Is Your First Business?” If you missed it, you can still catch it at http://www.USTaxAid.com/Insiders-Only One of the questions we received at the end had to do with MERP and HSA plans. There have been changes this year and because there is so ...

Let me start off by saying that we aren’t the right tax firm for everybody. We work best with business owners who want to grow their business or already have the success they want. If they want change, we work best with clients who are ready to take consistent action to get that change. That ...

Minimize the value.  If you’re looking a big ticket vehicle purchase and it won’t qualify for a Section 179 exclusion, then you may want to consider leasing Probably the second biggest purchase (next to your home) that you can make will be your car. While you’re sorting through all the details (type, new or used, ...