IRS Hit A Self-Employed Individual for $7k in Back Taxes!

My sole proprietor clients think I’m hard on them. They wish I’d leave them alone about maintaining a separate bank account for their business. They don’t want to hear me go on and on about not co-mingling funds, depositing and reporting every dollar made in business, and not over-stating expenses. There are several reasons I […]

So, You Want to Claim a Certain Someone As Your Dependent?

Everyone is looking for a way to lower their tax bill and maybe even get a little refund back.  I see lots of people attempting to be really… “creative” in coming up with a few dependents to help them achieve this goal.  Before you get too carried away with how easy it can be to […]

When the IRS says “Your Releative” Here’s What They Mean

Some taxpayers use the term “relative” quite loosely.  Your best friend’s son may be your godson – and he may seem like a relative in your eyes – but Dr Sam and the IRS don’t see it that way. So, when the IRS says “your relative” here is who they are talking about: Your biological […]