USTaxAid Services

Tax is tricky. And it often contradicts what you think you know. There rarely is one right answer, because everybody’s circumstances are different and it’s not as simple as reading an IRS tax guidebook. In fact, you need to look at Tax Court cases, memorandums, revenue rulings, revenue proceedings and Treasury Regulations. My firm pays ...

Real estate tax can be complicated. Unfortunately, there are a few things about the way the IRS categorizes income and losses that don’t make logical sense. And that’s where do-it-yourself real estate investors can get in trouble if they’re also trying to DIY on their business structures and tax plans. One of the fundamental issues ...

The 2011 embezzlement stats are out. This is a list you don’t want to be on! It means that you, your business and/or your state is more at risk for employee theft. When you consider all of the challenges with running a business today, what with state and federal tax complexities and increases, global competition ...

You may have heard about the three financial statements: Balance Sheet, Income Statement and Statement of Cash Flows. That’s not what I’m talking about here, but let’s go over this really quickly. The Balance Sheet is like a snapshot of your assets, liabilities and equity as of a certain date. Assets are things you own ...

I’m seeing strong interest in Series LLCs these days. Real Estate investors are coming to the Series LLC in numbers, fascinated by the idea of having solid asset protection without paying to form and maintain multiple state entities. Business owners are also looking at the Series LLC as a great way to start multiple businesses, ...

In the past week, I’ve had two different people ask me questions about walking away from their seriously underwater real estate. Real estate started its nosedive in 2007, but as long as no one lost their job, had reduced business income or had to move, the market value could seem irrelevant. As long as you ...

These days a lot of seminar guys throw around the terms “coach” (as in I’ll coach you for thousands of dollars), “mentor” (as in I’ll mentor you for thousands of dollars) and even “mastermind partner” (as in I’ll be your mastermind partner for thousands of dollars. These terms have been used, and misused, so many ...

If you have a business, please attention to these next few paragraphs. Following these guidelines will make one huge difference in your business: You can run your business or it can run you. Those four words: Measure Results, Change Activities It really is that simple to have a business that works. Measure Results: You need ...

December is always my busiest month of the year. My clients are looking for final tweaks to their year-end tax planning, and prospective clients call us looking for solutions before the final bell sounds for the end of the year. At the last minute, we had someone contact us who had a Schedule C business ...

Let’s be really clear here. The IRS would love for every single one of your workers to be classified as employees. That means you’d have to pay payroll taxes and it means they’ll have to pay Social Security and Medicare tax. On the other hand, if you’re an employer you can pay a lot less ...