Mark to Market Securities Tax Code One of the common problems we see in our tax law offices in San Diego and Orange County has to do with investors and financial traders who have improperly set-up their business and consequently are being audited after taking deductions under Section 475 of the mark-to-market securities tax code.
As a tax law firm we deal with IRS and Franchise Tax Board audits on a daily basis. As we review tax returns and prepare our clients for the audit process, one question comes to mind during many of these interviews: “What was their tax attorney thinking?” Deduct With Care: These Write-Offs Could Lead to
It’s one of the most dreaded phrases a taxpayer can hear, “you’re subject to the Alternative Minimum Tax.” If you’re hearing it from your tax attorney, get ready to break out your checkbook because chances are very high that you’ll be paying a lot more to the federal government. What is the Alternative Minimum Tax? The AMT