Many Minnesotans may worry that taking deductions on their taxes for a home office will trigger an audit. That may have been the case years ago, but now better than half of Americans either work for a small business or own one. And more than half of these small businesses are home-based with space forcontinue reading…
Google’s $300k tax lien an “error,” says local tax official
Many of us in Minnesota use Google on a daily basis and news of the company reporting billions of dollars in revenue is nothing new. But after hearing the news that a $300,000 tax lien has been placed on the company, something just doesn’t add up. A tax lien can be local, state or federal,continue reading…
Who represents you in tax controversies with the IRS will matter
Tax controversy is a term that involves a contested matter with the Internal Revenue Service. The matter can be a civil or criminal matter and administrative or judicial. When dealing with the IRS there are a few truths, one being that CPAs are adept at preparing tax returns and are trained in auditing a companycontinue reading…
Prince’s tax controversies, back tax issues continue
Although it may appear that the acclaimed artist Prince has caught up on all his tax issues with the French government, his tax liabilities reportedly still exist in Minnesota. The Minnesota performer’s attorney has filed a court notice stating the star had incorrectly assumed his previous managers submitted the necessary tax returns to the Frenchcontinue reading…
So we didn’t go off the fiscal cliff… now what?
Lawmakers were not able to pass a bill preventing us from going over the “fiscal cliff” before midnight on Dec. 1, but they were able to reach an agreement on New Year’s Day. The deal will prevent most people in Minnesota and the rest of the country from paying more in income taxes. However, individualscontinue reading…