Thursday, December 22, 2016

Things You Can Do Now To Save IRS Federal Taxes For All Of 2016

YEAR END TAX PLANNING TIPS FROM MY FRIENDS AT FREEMAN TAX LAW IN BIRMINGHAM, MI.

FREEMAN TAX LAW "LAST MINUTE" YEAR-END TAX PLANNING ALERT
Yes, it is that time of year again and as you start thinking about getting your taxes prepared for 2016, here are some last minute tax planning moves that might help you to save some money.  It's not too late to implement some planning moves to improve your situation for 2016 and beyond. This Alert reviews some simple steps that you might be able to take advantage of before December 31 to improve your overall tax picture for 2016.

Set up a SEP IRA before the end of the year if you are self-employed. 
A SEP IRA is a type of traditional IRA for self-employed individuals or small business owners. (SEP stands for Simplified Employee Pension.) Any business owner with one or more employees, or anyone with freelance income, can open a SEP IRA. Contributions, which are tax-deductible for the business or individual, go into a traditional IRA held in the employee's name. Employees of the business cannot contribute - the employer does. Like a traditional IRA, the money in a SEP IRA is not taxable until withdrawal.
One of the key advantages of a SEP IRA over a traditional or Roth IRA is the elevated contribution limit. For 2016 business owners can contribute up to 25% of income or $53,000, whichever is less.  An employee is eligible to participate in a SEP IRA if he or she is at least 21 years old and has worked for the company in three of the last five years, and received at least $600 in compensation during the year.
As an employer, you don't have to fund contributions every year. But when you do choose to make contributions, you must contribute not only to your own SEP IRA, but the SEP IRA of every eligible employee.   A SEP IRA may be your best bet if you are a one-person show and plan to keep it that way. You can open one at virtually any bank, mutual-fund company or brokerage firm, and pay low or no annual account fees. Your contribution limit is based on a simple formula: You can put away as much as 25% of your net income, up to a cap that increases periodically to keep pace with inflation. In 2016, the cap is $53,000.
If you're a small business owner, SEP IRAs are appealing because they are easy and inexpensive to set up, and contributions are tax deductible. A SEP IRA's funding flexibility is also a draw. If you have a tough year financially, you can choose not to contribute to the plan. If you have a great year, you can fund the plan with a larger contribution than you'd originally intended.  If a SEP is set up by the end of the year,  you have until the due date of your tax return (including extension) to make your 2016 contribution.  This one is a "no brainer"!!

Make HSA contributions. 
Under Code Sec. 223(b)(8)(A), a calendar year taxpayer who is an eligible individual under the health savings account (HSA) rules for December 2016, is treated as having been an eligible individual for the entire year. Thus, an individual who first became eligible on, for example, Dec. 1, 2016, may then make a full year's deductible-above-the-line contribution for 2016. If he makes that maximum contribution, he gets a deduction of $3,350 for individual coverage and $6,750 for family coverage (those age 55 or older also get an additional $1,000 catch-up amount).  This idea is a simple move and easy to make happen by year-end.

Nail down losses on stock while substantially preserving one's investment position.
 A taxpayer may have experienced paper losses on stock in a particular company or industry in which he wants to keep an investment. He may be able to realize his losses on the shares for tax purposes and still retain the same, or approximately the same, investment position. This can be accomplished by selling the shares and buying other shares in the same company or another company in the same industry to replace them, or by selling the original holding then buying back the same securities at least 31 days later.  Don't be afraid to sell that loser!!

Accelerate deductible contributions and/or payments of medical expenses. 
Individuals should keep in mind that charitable contributions and medical expenses are deductible when charged to their credit card accounts (e.g., in 2016) rather than when they pay the card company (e.g., in 2017). Additionally, for 2016, itemizing taxpayers age 65 or older can deduct medical expenses to the extent they exceed 7.5% of adjusted gross income (AGI), but that "floor" will rise to 10% in 2017 (i.e., to the same floor that currently applies to taxpayers under age 65). Thus, it may pay for itemizing taxpayers who are 65 or older to accelerate discretionary or elective expenses into this year.  Pay your medical bills in 2016!!  As an added bonus, your doctor will love you!!

Solve an underpayment of estimated tax problem. 
Because of the additional .9% Medicare tax and/or the 3.8% surtax on unearned income, more individuals may be facing a penalty for underpayment of estimated tax than in prior years. An employed individual who is facing a penalty for underpayment of estimated tax as a result of either of these new taxes or for any other reason should consider asking his employer—if it's not too late to do so—to increase income tax withholding before year-end. Generally, income tax withheld by an employer from an employee's wages or salary is treated as paid in equal amounts on each of the four estimated tax installment due dates. Thus, if an employee asks his employer to withhold additional amounts for the rest of the year, the penalty can be retroactively eliminated. This is because the heavy year-end withholding will be treated as paid equally over the four installment due dates.  This is some smart thinking!!  You will get stuck paying this tax when the return is due, so you might as well pay now and save the underestimated tax penalty. 

Retirement plan distribution.
 An individual can take an eligible rollover distribution from a qualified retirement plan before the end of 2016 if he is facing a penalty for underpayment of estimated tax and the increased withholding option is unavailable or won't sufficiently address the problem. Income tax will be withheld from the distribution at a 20% rate and will be applied toward the taxes owed for 2016. He can then timely roll over the gross amount of the distribution, as increased by the amount of withheld tax, to a traditional IRA. No part of the distribution will be includible in income for 2016, but the withheld tax will be applied pro rata over the full 2016 tax year to reduce previous underpayments of estimated tax.

Accelerate big ticket purchases into 2016 to get sales tax deduction. 
Taxpayers who itemize their deductions rather than take the standard deduction have the option of deducting state and local sales taxes in lieu of state and local income taxes. As a result, individuals who are considering the purchase of a big-ticket item (e.g., a car or boat) should consider whether it is advantageous to elect on their 2016 return to do so.   This will also provide you or a loved one with a nice Christmas gift!!

Prepay qualified higher education expenses for first quarter of 2017. 
Unless Congress extends it again, the above-the-line deduction for qualified higher education expenses will not be available after 2016. Thus, individuals should consider prepaying in 2016 eligible expenses for 2017 courses if doing so will increase their 2016 deduction for qualified higher education expenses. Generally, a 2016 deduction is allowed for qualified education expenses paid in 2016 in connection with enrollment at an institution of higher education during 2016 or for an academic period beginning in 2016 or in the first three months of 2017. The deduction is limited to $4,000 for taxpayers with modified adjusted gross income (AGI) of not more than $65,000 ($130,000 for married taxpayers filing joint returns), and $2,000 for taxpayers with modified AGI of not more than $80,000 ($160,000 for married taxpayers filing joint returns).  This idea works great if you are in these income ranges.

Potential to earn tax-free gains. 
An individual may exclude all (or, in some cases, part) of the gain realized on the disposition of qualified small business stock (QSBS) held for more than five years. For QSBS acquired after Sept. 27, 2010, an individual can exclude all of the gain on the disposition of QSBS stock. For QSBS acquired after Feb. 17, 2009 and before Sept. 28, 2010, individuals can exclude 75% of any gain realized on the disposition of QSBS. For QSBS acquired before Feb. 18, 2009, individuals can exclude 50% of the gain on the disposition of QSBS. Taxpayers should consider these rules in determining which stock to sell to maximize their exclusion for 2016 or to not sell if the holding period hasn't yet been satisfied.

Be sure to take required minimum distributions (RMDs). 
Taxpayers who have reached age 70-½ should be sure to take their 2016 RMD from their IRAs or 401(k) plans (or other employer-sponsored retired plans). Failure to take a required withdrawal can result in a penalty of 50% of the amount of the RMD not withdrawn. Those who turned age 70-½ in 2016 can delay the first required distribution to 2017. However, taxpayers who take the deferral route will have to take a double distribution in 2017—the amount required for 2016 plus the amount required for 2017. That could make sense if the taxpayer will be subject to a lower tax rate next year.

Use IRAs to make charitable gifts. 
Taxpayers who have reached age 70-½, own IRAs and are thinking of making a charitable gift, should consider arranging for the gift to be made directly by the IRA trustee. Such a transfer (not to exceed $100,000) will neither be included in gross income nor allowed as a deduction on the taxpayer's return. But, since such a distribution is not includible in gross income, it will not increase AGI for purposes of the phaseout of any deduction, exclusion, or tax credit that is limited or lost completely when AGI reaches certain specified level.    It is also a wonderful thing to do to enhance your charitable giving.

Make year-end gifts. 
A person can give any other person up to $14,000 for 2016 without incurring any gift tax. The annual exclusion amount increases to $28,000 per donee if the donor's spouse consents to gift-splitting. Annual exclusion gifts take the amount of the gift and future appreciation in the value of the gift out of the donor's estate, and shift the income tax obligation on the property's earnings to the donee who may be in a lower tax bracket (if not subject to the kiddie tax).  Who wouldn't love this!!
A gift by check to a non-charitable donee is considered to be a completed gift for gift and estate tax purposes on the earlier of:

  • The date on which the donor has so parted with dominion and control under local law as to leave in the donor no power to change its disposition, or
  • The date on which the donee deposits the check (or cashes it against available funds of the donee) or presents the check for payment, if it is established that:
    • The check was paid by the drawee bank when first presented to the drawee bank for payment;
    • The donor was alive when the check was paid by the drawee bank;
    • The donor intended to make a gift;
    • Delivery of the check by the donor was unconditional; and
    • The check was deposited, cashed, or presented in the calendar year for which completed gift treatment is sought and within a reasonable time of issuance.
Thus, for example, a $14,000 gift check given to and deposited by a grandson on Dec. 31, 2016 is treated as a completed gift for 2016 even though the check doesn't clear until 2017 (assuming the donor is still alive when the check is paid by the drawee bank).

Jeffrey S. Freeman, J.D., LL.M.
Attorney and Counselor
2051 Villa Rd
Suite 105
Birmingham,  MI   48009

Thursday, December 1, 2016

IRS Launches New Online Tool To Assist Taxpayers With Basic Account Information

WASHINGTON – The Internal Revenue Service announced today the launch of an online application that will assist taxpayers with straightforward balance inquiries in a safe, easy and convenient way.

This new and secure tool, available on IRS.gov allows taxpayers to view their IRS account balance, which will include the amount they owe for tax, penalties and interest.

Taxpayers may also continue to take advantage of the various online payment options available by accessing any of the payment features including: direct pay, pay by card and Online Payment Agreement. As part of the IRS vision for the future taxpayer experience, the IRS anticipates that other capabilities will continue to be added to this platform as they are developed and tested.

“This new tool is part of the IRS’s commitment to improve and expand taxpayer services by providing additional online taxpayer options,” said IRS Commissioner John Koskinen. “The new ‘balance due’ feature, paired with the existing online payment options, will increase the availability of self-service interactions with the IRS. This will give taxpayers another way to take care of their tax obligations in a fast and secure manner.”

Before accessing the tool, taxpayers must authenticate their identities through the rigorous Secure Access process. This is a two-step authentication process, which means returning users must have their credentials (username and password) plus a security code sent as a text to their mobile phones.

Taxpayers who have registered using Secure Access for Get Transcript Online or Get an IP PIN may use their same username and password. To register for the first time, taxpayers must have an email address, a text-enabled mobile phone in the user's name and specific financial information, such as a credit card number or specific loan numbers. Taxpayers may review the Secure Access process prior to starting registration.

As part of the security process to authenticate taxpayers, the IRS will send verification, activation or security codes via email and text. The IRS warns taxpayers that it will not initiate contact via text or email asking for log-in information or personal data. The IRS texts and emails will only contain one-time codes.
In addition to this new functionality, the IRS continues to provide several self-service tools and helpful resources available on IRS.gov for individuals, businesses and tax professionals.

For help with your legal needs contact a business, tax, and health care law attorney at the offices of AttorneyBritt.

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Thursday, October 27, 2016

IRS Announces 2017 Pension Plan Limitations And 401(k) Contribution Limits


The Internal Revenue Service has announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2017.

Technical guidance detailing these items are contained in Notice 2016-62.

Highlights of changes for 2017 Include:

The income ranges for determining eligibility to make deductible contributions to traditional Individual Retirement Arrangements (IRAs), to contribute to Roth IRAs, and to claim the saver’s credit all increased for 2017.

Taxpayers can deduct contributions to a traditional IRA if they meet certain conditions.  If during the year either the taxpayer or their spouse was covered by a retirement plan at work, the deduction may be reduced, or phased out, until it is eliminated, depending on filing status and income. (If neither the taxpayer nor their spouse is covered by a retirement plan at work, the phase-outs of the deduction do not apply.)   

   Here are the phase-out ranges for 2017:
  • For single taxpayers covered by a workplace retirement plan, the phase-out range is $62,000 to $72,000, up from $61,000 to $71,000.
  • For married couples filing jointly, where the spouse making the IRA contribution is covered by a workplace retirement plan, the phase-out range is $99,000 to $119,000, up from $98,000 to $118,000.
  • For an IRA contributor who is not covered by a workplace retirement plan and is married to someone who is covered, the deduction is phased out if the couple’s income is between $186,000 and $196,000, up from $184,000 and $194,000.
  • For a married individual filing a separate return who is covered by a workplace retirement plan, the phase-out range is not subject to an annual cost-of-living adjustment and remains $0 to $10,000.
The income phase-out range for taxpayers making contributions to a Roth IRA is $118,000 to $133,000 for singles and heads of household, up from $117,000 to $132,000.  For married couples filing jointly, the income phase-out range is $186,000 to $196,000, up from $184,000 to $194,000.  The phase-out range for a married individual filing a separate return who makes contributions to a Roth IRA is not subject to an annual cost-of-living adjustment and remains $0 to $10,000.

The income limit for the saver’s credit (also known as the retirement savings contributions credit) for low- and moderate-income workers is $62,000 for married couples filing jointly, up from $61,500; $46,500 for heads of household, up from $46,125; and $31,000 for singles and married individuals filing separately, up from $30,750.

Highlights of limitations that remain unchanged from 2016
  • The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan remains unchanged at $18,000.
  • The catch-up contribution limit for employees aged 50 and over who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan remains unchanged at $6,000.
  • The limit on annual contributions to an IRA remains unchanged at $5,500.  The additional catch-up contribution limit for individuals aged 50 and over is not subject to an annual cost-of-living adjustment and remains $1,000.
Detailed description of adjusted and unchanged limitations
Section 415 of the Internal Revenue Code (Code) provides for dollar limitations on benefits and contributions under qualified retirement plans.  Section 415(d) requires that the Secretary of the Treasury annually adjust these limits for cost of living increases.  Other limitations applicable to deferred compensation plans are also affected by these adjustments under Section 415.  Under Section 415(d), the adjustments are to be made following adjustment procedures similar to those used to adjust benefit amounts under Section 215(i)(2)(A) of the Social Security Act.
Effective January 1, 2017, the limitation on the annual benefit under a defined benefit plan under Section 415(b)(1)(A) is increased from $210,000 to $215,000.  For a participant who separated from service before January 1, 2017, the limitation for defined benefit plans under Section 415(b)(1)(B) is computed by multiplying the participant's compensation limitation, as adjusted through 2016, by 1.0112.

The limitation for defined contribution plans under Section 415(c)(1)(A) is increased in 2017 from $53,000 to $54,000.

The Code provides that various other dollar amounts are to be adjusted at the same time and in the same manner as the dollar limitation of Section 415(b)(1)(A).  After taking into account the applicable rounding rules, the amounts for 2017 are as follows:

The limitation under Section 402(g)(1) on the exclusion for elective deferrals described in Section 402(g)(3) remains unchanged at $18,000.
The annual compensation limit under Sections 401(a)(17), 404(l), 408(k)(3)(C), and 408(k)(6)(D)(ii) is increased from $265,000 to $270,000.

The dollar limitation under Section 416(i)(1)(A)(i) concerning the definition of key employee in a top-heavy plan is increased from $170,000 to $175,000.

The dollar amount under Section 409(o)(1)(C)(ii) for determining the maximum account balance in an employee stock ownership plan subject to a 5 year distribution period is increased from $1,070,000 to $1,080,000, while the dollar amount used to determine the lengthening of the 5 year distribution period is increased from $210,000 to $215,000.

The limitation used in the definition of highly compensated employee under Section 414(q)(1)(B) remains unchanged at $120,000.

The dollar limitation under Section 414(v)(2)(B)(i) for catch-up contributions to an applicable employer plan other than a plan described in Section 401(k)(11) or Section 408(p) for individuals aged 50 or over remains unchanged at $6,000.  The dollar limitation under Section 414(v)(2)(B)(ii) for catch-up contributions to an applicable employer plan described in Section 401(k)(11) or Section 408(p) for individuals aged 50 or over remains unchanged at $3,000.

The annual compensation limitation under Section 401(a)(17) for eligible participants in certain governmental plans that, under the plan as in effect on July 1, 1993, allowed cost of living adjustments to the compensation limitation under the plan under Section 401(a)(17) to be taken into account, is increased from $395,000 to $400,000.
The compensation amount under Section 408(k)(2)(C) regarding simplified employee pensions (SEPs) remains unchanged at $600.

The limitation under Section 408(p)(2)(E) regarding SIMPLE retirement accounts remains unchanged at $12,500.

The limitation on deferrals under Section 457(e)(15) concerning deferred compensation plans of state and local governments and tax-exempt organizations remains unchanged at $18,000.

The limitation under Section 664(g)(7) concerning the qualified gratuitous transfer of qualified employer securities to an employee stock ownership plan remains unchanged at $45,000.

The compensation amount under Section 1.61 21(f)(5)(i) of the Income Tax Regulations concerning the definition of “control employee” for fringe benefit valuation remains unchanged at $105,000.  The compensation amount under Section 1.61 21(f)(5)(iii) remains unchanged at $215,000.

The dollar limitation on premiums paid with respect to a qualifying longevity annuity contract under Section 1.401(a)(9)-6, A-17(b)(2)(i) of the Income Tax Regulations remains unchanged at $125,000.

The Code provides that the $1,000,000,000 threshold used to determine whether a multiemployer plan is a systemically important plan under Section 432(e)(9)(H)(v)(III)(aa) is adjusted using the cost-of-living adjustment provided under Section 432(e)(9)(H)(v)(III)(bb).  After taking the applicable rounding rule into account, the threshold used to determine whether a multiemployer plan is a systemically important plan under Section 432(e)(9)(H)(v)(III)(aa) remains unchanged for 2017 at $1,012,000,000.

The Code also provides that several retirement-related amounts are to be adjusted using the cost-of-living adjustment under Section 1(f)(3).  After taking the applicable rounding rules into account, the amounts for 2017 are as follows:

The adjusted gross income limitation under Section 25B(b)(1)(A) for determining the retirement savings contribution credit for married taxpayers filing a joint return remains unchanged at $37,000; the limitation under Section 25B(b)(1)(B) remains unchanged at $40,000; and the limitation under Sections 25B(b)(1)(C) and 25B(b)(1)(D) is increased from $61,500 to $62,000.

The adjusted gross income limitation under Section 25B(b)(1)(A) for determining the retirement savings contribution credit for taxpayers filing as head of household remains unchanged at $27,750; the limitation under Section 25B(b)(1)(B) remains unchanged at $30,000; and the limitation under Sections 25B(b)(1)(C) and 25B(b)(1)(D) is increased from $46,125 to $46,500.

The adjusted gross income limitation under Section 25B(b)(1)(A) for determining the retirement savings contribution credit for all other taxpayers remains unchanged at $18,500; the limitation under Section 25B(b)(1)(B) remains unchanged at $20,000; and the limitation under Sections 25B(b)(1)(C) and 25B(b)(1)(D) is increased from $30,750 to $31,000.

The deductible amount under Section 219(b)(5)(A) for an individual making qualified retirement contributions remains unchanged at $5,500.

The applicable dollar amount under Section 219(g)(3)(B)(i) for determining the deductible amount of an IRA contribution for taxpayers who are active participants filing a joint return or as a qualifying widow(er) increased from $98,000 to $99,000.  The applicable dollar amount under Section 219(g)(3)(B)(ii) for all other taxpayers who are active participants (other than married taxpayers filing separate returns) increased from $61,000 to $62,000.  If an individual or the individual’s spouse is an active participant, the applicable dollar amount under Section 219(g)(3)(B)(iii) for a married individual filing a separate return is not subject to an annual cost-of-living adjustment and remains $0.  The applicable dollar amount under Section 219(g)(7)(A) for a taxpayer who is not an active participant but whose spouse is an active participant is increased from $184,000 to $186,000.

The adjusted gross income limitation under Section 408A(c)(3)(B)(ii)(I) for determining the maximum Roth IRA contribution for married taxpayers filing a joint return or for taxpayers filing as a qualifying widow(er) is increased from $184,000 to $186,000.  The adjusted gross income limitation under Section 408A(c)(3)(B)(ii)(II) for all other taxpayers (other than married taxpayers filing separate returns) is increased from $117,000 to $118,000.  The applicable dollar amount under Section 408A(c)(3)(B)(ii)(III) for a married individual filing a separate return is not subject to an annual cost-of-living adjustment and remains $0.

The dollar amount under Section 430(c)(7)(D)(i)(II) used to determine excess employee compensation with respect to a single-employer defined benefit pension plan for which the special election under Section 430(c)(2)(D) has been made is increased from $1,106,000 to $1,115,000.

For help with your legal needs contact a business, tax, and health care law attorney at the offices of AttorneyBritt.

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Friday, October 14, 2016

Trump vs. Clinton And Journalism Then And Now

There were reports yesterday that Journalists were escorted by police who happened to be in riot gear from the last Trump rally to their vehicles.  The journalists were afraid the ordinary average peaceful citizens that attend Trump rallies might be so incensed at the massive smear campaign being conducted by them against Trump that violence against them might erupt.

This got me thinking......

In the first half of the twentieth century and before, journalists weren't part of the establishment.  They weren't the friends and buddies of the rich and powerful.  They were journalists.  Now journalists are more interested in having cocktails and dinner with their rich and powerful friends than being real journalists.  So much so that for decades now the mainstream media have functioned as a campaign arm of the democrat party and for the Clintons in particular.

Today fearing that someone like Trump will destroy the nice cushy order that the establishment politicians and their media accomplices enjoy they are conducting an unprecedented complete and total 24 hour per day smear campaign of lies against Donald Trump.  Naturally this makes the rich and powerful members of the establishment happy, but tends to greatly upset a majority of the "regular joe" men and women who support Trump.

So that brings us to the other day and the need for riot police provided by the rich and powerful political establishment to protect these so called journalists from "the people".

Before, Journalists needed the people to protect them from the rich and powerful.  Now, these faux journalists need the rich and powerful to protect them from the people.

Dear Journalists:  If you need the rich and powerful to protect you from the people, then you aren't doing it right.

Monday, September 26, 2016

TAXPAYERS KNOW YOUR RIGHTS: IRS Will Begin Using Private Debt Collection Agencies To Collect Old Tax Debts


The Internal Revenue Service announced it plans to begin private collection of certain overdue federal tax debts next spring and has selected four contractors to implement the new program.

The new program was authorized by Congress last December.

As a condition of receiving a contract, these agencies must respect taxpayer rights including, among other things, abiding by the consumer protection provisions of the Fair Debt Collection Practices Act.

The IRS has selected the following contractors to carry out this program:

  • CBE Group 1309 Technology Pkwy Cedar Falls, IA 50613
     
  • Conserve 200 CrossKeys Office park Fairport, NY 14450
     
  • Performant 333 N Canyons Pkwy Livermore, CA 94551
     
  • Pioneer 325 Daniel Zenker Dr Horseheads, NY 14845

These private collection agencies will work on accounts where taxpayers owe money, but the IRS is no longer actively working their accounts. Several factors contribute to the IRS assigning these accounts to private collection agencies, including older, overdue tax accounts or lack of resources preventing the IRS from working the cases.

The IRS will give each taxpayer and their representative written notice that their account is being transferred to a private collection agency. The agency will then send a second, separate letter to the taxpayer and their representative confirming this transfer.

Private collection agencies will be able to identify themselves as contractors of the IRS collecting taxes. Employees of these collection agencies must follow the provisions of the Fair Debt Collection Practices Act and must be courteous and respect taxpayer rights.

The IRS will do everything it can to help taxpayers avoid confusion and understand their rights and tax responsibilities, particularly in light of continual phone scams where callers impersonate IRS agents and request immediate payment.

Private collection agencies will not ask for payment on a prepaid debit card. Taxpayers will be informed about electronic payment options for taxpayers on IRS.gov/Pay Your Tax Bill. Payment by check should be payable to the U.S. Treasury and sent directly to IRS, not the private collection agency.

The IRS will continue to keep taxpayers informed about scams and provide tips for protecting themselves. The IRS encourages taxpayers to visit IRS.gov for information including the “Tax Scams and Consumer Alerts” page.

For more information visit the Private Debt Collection page on IRS.gov.

For help with your legal needs contact a business, tax, and health care law attorney at the offices of AttorneyBritt.

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Monday, September 12, 2016

When Are Job Hunting Expenses Income Tax Deductible ?


If you are looking for a job in the same line of work, you may be able to deduct some of your job search costs.



Here are some key tax facts you should know about when searching for a new job:

  • Same Occupation.  Your expenses must be for a job search in your current line of work. You can’t deduct expenses for a job search in a new occupation.
  • Résumé Costs.  You can deduct the cost of preparing and mailing your résumé.
  • Travel Expenses.  If you travel to look for a new job, you may be able to deduct the cost of the trip. To deduct the cost of the travel to and from the area, the trip must be mainly to look for a new job. You may still be able to deduct some costs if looking for a job is not the main purpose of the trip.
  • Placement Agency. You can deduct some job placement agency fees you pay to look for a job.
  • First Job.  You can’t deduct job search expenses if you’re looking for a job for the first time.
  • Time Between Jobs.  You can’t deduct job search expenses if there was a long break between the end of your last job and the time you began looking for a new one.
  • Reimbursed Costs.  Reimbursed expenses are not deductible.
  • Schedule A.  You normally deduct your job search expenses on Schedule A, Itemized Deductions. Claim them as a miscellaneous deduction. You can deduct the total miscellaneous deductions that are more than two percent of your adjusted gross income.
  • Premium Tax Credit.  If you receive advance payments of the premium tax credit, it is important that you report changes in circumstances –  such as changes in your income, a change in eligibility for other coverage, or a change of address  –  to your Health Insurance Marketplace.  Advance payments are paid directly to your insurance company and lower the out-of-pocket cost for your health insurance premiums.  Reporting changes will help you get the proper type and amount of financial assistance so you can avoid getting too much or too little in advance.
For more on job hunting refer to Publication 529, Miscellaneous Deductions. You can get IRS tax forms and publications on IRS.gov/forms at any time.
IRS Tax Tips provide valuable information throughout the year. IRS.gov offers tax help and info on various topics including common tax scams, taxpayer rights and more.
IRS YouTube Videos:

For help with your legal needs contact a business, tax, and health care law attorney at the offices of AttorneyBritt.

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Wednesday, August 31, 2016

IRS Tax Tips For Gambling Income And Losses




Gambling winnings should be reported as income on your tax return.

You must itemize deductions to deduct gambling losses, and they can be deducted only up to the amount of any gambling winnings.

If you are a casual gambler, these tax tips can help:
  1. Gambling income.  Income from gambling includes winnings from the lottery, horse racing and casinos. It also includes cash and non-cash prizes. You must report the fair market value of non-cash prizes like cars and trips.

  2. Payer tax form.  If you win, the payer may give you a Form W-2G, Certain Gambling Winnings. The payer also sends a copy of the W-2G to the IRS. The payer must issue the form based on the type of gambling, the amount you win and other factors. You’ll also get a form W-2G if the payer must withhold income tax from what you win.
     
  3. How to report winnings.  You normally report your winnings for the year on your tax return as “Other Income.” You must report all your gambling winnings as income. This is true even if you don’t get a Form W-2G.

  4. How to deduct losses.  You can deduct your gambling losses on Schedule A, Itemized Deductions. The total you can deduct, however, is limited to the amount of the gambling income you report on your return.

  5. Keep gambling receipts.  Keep records of your wins and losses. This means keeping items such as a gambling log or diary, receipts, statements or tickets.
See Publication 525, Taxable and Nontaxable Income for rules on this topic. Refer to Publication 529, Miscellaneous Deductions for more on losses. It also lists some of the types of records you should keep. You can download and view both on IRS.gov/forms at any time.

IRS Tax Tips provide valuable information throughout the year. IRS.gov offers tax help and info on various topics including common tax scams, taxpayer rights and more.
Additional IRS Resources:
IRS YouTube Videos:
IRS Podcasts:

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Monday, August 29, 2016

Reduce IRS Taxes With Home Energy Tax Credits



Certain energy-efficient home improvements can cut your energy bills and save you money at tax time. 

Here are some key facts that you should know about home energy tax credits:



Non-Business Energy Property Credit
  • Part of this credit is worth 10 percent of the cost of certain qualified energy-saving items you added to your main home last year. This may include items such as insulation, windows, doors and roofs.
  • The other part of the credit is not a percentage of the cost. This part of the credit is for the actual cost of certain property. This may include items such as water heaters and heating and air conditioning systems. The credit amount for each type of property has a different dollar limit.
  • This credit has a maximum lifetime limit of $500. You may only use $200 of this limit for windows.
  • Your main home must be located in the U.S. to qualify for the credit.
  • Be sure you have the written certification from the manufacturer that their product qualifies for this tax credit. They usually post it on their website or include it with the product’s packaging. You can rely on it to claim the credit, but do not attach it to your return. Keep it with your tax records.
  • You must place qualifying improvements in service in your principal residence by Dec. 31, 2016.
Residential Energy Efficient Property Credit
  • This tax credit is 30 percent of the cost of alternative energy equipment installed on or in your home.
  • Qualified equipment includes solar hot water heaters, solar electric equipment, wind turbines and fuel cell property.
  • Qualified wind turbine and fuel cell property must be placed into service by Dec. 31, 2016. Hot water heaters and solar electric equipment must be placed in to service by Dec. 31, 2021.
  • The tax credit for qualified fuel cell property is limited to $500 for each one-half kilowatt of capacity. The amount for other qualified expenditures does not have a limit. If your credit is more than the tax you owe, you can carry forward the unused portion of this credit to next year’s tax return. • The home must be in the U.S. It does not have to be your main home, unless the alternative energy equipment is qualified fuel cell property.
Use Form 5695, Residential Energy Credits, to claim these credits. For more on this topic refer to the form’s instructions. You can get IRS forms on IRS.gov/forms anytime.


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Friday, August 26, 2016

KKK Grand Dragon Endorsed Hillary Clinton In March; Hillary Also Accepted $20,000 Contribution From KKK

From Gateway Pundit Blog:

This interview took place after a KKK rally in California in March.
Reporter To KKK Grand Dragon: Who do you like for president, sir.
Will Quigg (KKK Grand Dragon): Hillary Clinton.
Reporter: Do you think whites are superior to Blacks and Latinos
Will Quigg: Well we are God’s chosen people.

Hillary Clinton’s presidential campaign has received more than $20,000 in donations contributed by members of the Ku Klux Klan, a prominent member of the hate group announced earlier this year.

Somehow, the media and Hillary Clinton fail to mention these items when falsely claiming that Trump and his 10s of millions of supporters are all "racists".

Hillary Clinton is an FBI documented LIAR.  WHY WOULD ANY RATIONAL 

PERSON BELIEVE ANYTHING SHE HAS TO SAY !!!!

IRS Help For Taxpayers Who Fail To Follow IRA and Retirement Plan Rollover 60-Day Rule


The Internal Revenue Service has provided a self-certification procedure designed to help recipients of retirement plan distributions who inadvertently miss the 60-day time limit for rollovers into another retirement plan or individual retirement arrangement (IRA).


In Revenue Procedure 2016-47, the IRS explained how eligible taxpayers, encountering a variety of mitigating circumstances, can qualify for a waiver of the 60-day time limit and avoid possible early distribution taxes. In addition, the revenue procedure includes a sample self-certification letter that a taxpayer can use to notify the administrator or trustee of the retirement plan or IRA receiving the rollover that they qualify for the waiver.

Normally, an eligible distribution from an IRA or workplace retirement plan can only qualify for tax-free rollover treatment if it is contributed to another IRA or workplace plan by the 60th day after it was received. In most cases, taxpayers who fail to meet the time limit could only obtain a waiver by requesting a private letter ruling from the IRS.

A taxpayer who missed the time limit will now ordinarily qualify for a waiver if one or more of 11 circumstances, listed in the revenue procedure, apply to them.  To Qualify:

(1) No prior denial by the IRS.  The IRS must not have previously denied a waiver
request with respect to a rollover of all or part of the distribution to which the contribution relates.

(2) Reason for missing 60-day deadline.  The taxpayer must have missed the 60-
day deadline because of the taxpayer’s inability to complete a rollover due to one or more of the following reasons:

  1. an error was committed by the financial institution receiving the contribution or making the distribution to which the contribution relates;

  2. the distribution, having been made in the form of a check, was misplaced and
    never cashed; 

  3. the distribution was deposited into and remained in an account that the
    taxpayer mistakenly thought was an eligible retirement plan;

  4. the taxpayer’s principal residence was severely damaged;

  5. a member of the taxpayer’s family died

  6. the taxpayer or a member of the taxpayer’s family was seriously ill;

  7. the taxpayer was incarcerated;

  8. restrictions were imposed by a foreign country;

  9. a postal error occurred; 

  10. the distribution was made on account of a levy under § 6331 and the proceeds
    of the levy have been returned to the taxpayer; or

  11. the party making the distribution to which the roll
    over relates delayed providing information that the receiving plan or IRA required to complete the rollover despite the taxpayer’s reasonable efforts to obtain the information.

(3) Contribution as soon as practicable; 30-day safe harbor.  The contribution
must be made to the plan or IRA as soon as practicable after the reason or reasons listed in the preceding paragraph no longer prevent the taxpayer from making the contribution.  This requirement is deemed to be satisfied if the contribution is made within 30 days after the reason or reasons no longer prevent the taxpayer from making the contribution. 

Ordinarily, the IRS and plan administrators and trustees will honor a taxpayer’s truthful self-certification that they qualify for a waiver under these circumstances. Moreover, even if a taxpayer does not self-certify, the IRS now has the authority to grant a waiver during a subsequent examination.

Other requirements, along with a copy of a sample self-certification letter, can be found in the revenue procedure.

The IRS encourages eligible taxpayers wishing to transfer retirement plan or IRA distributions to another retirement plan or IRA to consider requesting that the administrator or trustee make a direct trustee-to-trustee transfer, rather than doing a rollover. Doing so can avoid some of the delays and restrictions that often arise during the rollover process. For more information about rollovers and transfers, check out the Can You Move Retirement Plan Assets? section in Publication 590-A or the Rollovers of Retirement Plan and IRA Distributions  page on IRS.gov.


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Friday, August 5, 2016

Khizr Khan Says Hillary Is Allah's Candidate

Khizr Khan, the sharia law promoting Hillary supporter who spoke at DNC convention, went on Pakistan TV to declare that Allah wants Hillary to win the election.   Get that?  Hillary Clinton is Allah's choice.

So if you are inclined to shout Allahu Ahkbar from time to time then Hillary is your candidate.  If on the other hand you think a temporary halt to refugees from Syria and other terrorist countries is a common sense perfectly reasonable thing to do, then VOTE FOR TRUMP THE NOT ALLAH'S CHOICE.

The choice for America is clear.  if you want the USA to experience a 1000 fold increase in rapes and sexual assaults just like what is happening in Germany and Sweeden, if you want the USA to experience at least one terrorist attack per week like what is happening in France, and if you want Iran to give a nuclear bomb to ISIS so they can detonate it in one of our major cities, then vote for Hillary.  She's Allah's choice.

UPDATE:  Yesterday, 8/8/16, Hillary Clinton was speaking to an audience in Kissimmee, Florida, a city located near Orlando, Florida where the Pulse Nightclub Islamist Terror Attack took place killing 49 people.  Sitting prominently behind Hillary was the father of the terrorist who killed these 49 people, Siddique Mateen.

As Khizr Khan stated, Hillary is Allah's candidate.

Wednesday, August 3, 2016

Legal Help For New Business Formations And Startups | Corporations And LLCs

Forming A Business In Texas Made Easy:-

At the Austin, Texas Law Firm Of AttorneyBritt, our business formation attorneys will help you turn your vision of a healthy and thriving company into reality by providing you with the legal tools you need to thrive well beyond tomorrow. We can help in most areas including

  • Business Operating Agreements
  • Re-Organization/conversions
  • Governance Requirements
  • Family Business Issues
  • Formation of corporations, limited liability companies, partnerships, limited liability partnerships, professional limited liability companies, and sole proprietorships
  • Officer-Director liability issues

 

Step 1:  Review And Select The Appropriate Type Of Organization For Your Business.

Given the tax and legal implications when choosing your business structure, new business owners should always seek the guidance of a highly qualified attorney with a professional background in both business law and tax law, an attorney such as the dual professional attorneys and CPAs at  the Austin, Texas law firm of AttorneyBrit.  We can verify all legal requirements are properly considered before you choose a business structure.  The business structures in the State of Texas, and in most other states as well, are as follows:
  • Sole Proprietorship

The sole proprietorship is the simplest business form under which one can operate a business. A sole proprietorship is not a legal entity. It is simply an enterprise that is owned and operated by an individual. It is the easiest type of business to establish-no state filing or agreement with other owners is required. By default, once an individual starts selling goods or services, he or she has created a sole proprietorship.

A sole proprietorship is not legally separate from its owner. The law does not distinguish between the owner's personal assets and the business' obligations.

A sole proprietor's assets can be (and often are) used to satisfy the business' debts. Consider this before selecting a sole proprietorship as your business form. Accidents happen. Businesses go out of business all the time.These unfortunate circumstances may quickly become a nightmare for its owner.
  • General Partnership

A partnership is a business form created automatically when two or more persons engage in a business enterprise for profit. A general partnership is the simplest variety of partnership. By default, a business that begins with a verbal agreement or handshake is considered a general partnership. In a general partnership, all partners share in the management of the entity and share in the entity's profits. Matters relating to the ordinary business operations of the partners are decided by the partners. A formal, written partnership agreement that sets forth all the partners' rights and responsibilities is always highly recommended; oral partnership agreements are fertile ground for disputes among partners.

A general partnership offers no liability protection to its owners-the general partners are all liable for the debts and obligations of the general partnership. This means that a general partner's personal assets can be used to satisfy the business debts of a general partnership.
  • Limited Partnership

A limited partnership (LP) is a variety of partnership owned by two classes of partners: general partners and limited partners. General partners manage the enterprise and are personally liable for its debts. Limited partners contribute capital and share in the profits, but typically do not participate in the management of the enterprise. Another notable distinction between the two classes of partners is that limited partners incur no personal liability for partnership debts beyond their capital contributions.

In an LP, at least one partner must be a general partner with unlimited liability, and at least one partner must be a limited partner whose liability is limited to the amount of his or her investment. Limited partners enjoy liability protection much like the shareholders of a corporation or the members of a limited liability company (LLC).

An LP allows for pass-through taxation, as its income is not taxed at the entity level. Limited partners can use losses to offset other passive income on their tax returns. General partners' losses can be used to shelter other income up to the value of their investment in the partnership, since their losses are not usually considered passive. LPs have been largely eclipsed by the development of the more versatile LLC.

To form an LP, the LP organizers must file appropriate formation documents with their state's business chartering agency and must pay a required filing fee. The LP organization is especially appealing to types of businesses where a single, limited-term project is the focus (such as real estate or the film industry). LPs can be used as a form of estate planning in that parents can retain control of their business while transferring shares to their children.
  • Limited Liability Partnership (LLP)

A limited liability partnership (LLP) is a hybrid business form that shares attributes of partnerships and limited liability companies (LLCs). An LLP is an entity comprised of licensed professionals, such as attorneys, accountants, and architects. The partners in an LLP may enjoy personal liability protection for the acts of other partners (but each partner remains liable for his or her own actions). State laws generally require LLPs to maintain generous insurance policies or cash reserves to pay claims brought against the LLP.

The LLP form is appealing to licensed professionals that are prohibited from operating under an LLC or corporation-professionals such as accountants, attorneys, and architects. An LLP also allows for pass-through taxation, as its income is not taxed at
the entity level.


To form an LLP, the LLP's organizers must file appropriate formation documents with their state's business chartering agency and must pay a required filing fee.
  • C-Corporation

The standard corporation, also called a C corporation, is the most common and reliable business structure. A corporation is a separate legal entity owned by its shareholders. As a result, it protects its owners from personal liability for corporate debts and obligations.

A corporation's shareholders, directors, officers, and managers must observe particular formalities in a corporation's operation and administration. For example, decisions regarding a corporation's management must often be made by formal vote and must be recorded in the corporate minutes. Meetings of shareholders and directors must be properly noticed and must meet quorum requirements. Finally, corporations must meet annual reporting requirements in their state of incorporation and in states where they do significant business.

Taxation is a significant consideration when choosing a business structure. A C corporation is taxed as a separate legal entity (i.e., no "pass-through" taxation like a partnership). If the corporation distributes profits to the shareholders in the form of dividends, shareholders pay income tax on those distributions; thus, commentators criticize C corporations as imposing "double taxation."

As with any business entity that offers liability protection to its owners, a corporation must file a charter in its home state. A corporation begins its life by filing articles of incorporation (sometimes called a certificate of incorporation) in the appropriate state and paying the necessary filing fee.
  • S Corporation

An S corporation is a standard corporation that has filed for S corporation status with the Internal Revenue Service (IRS). The S corporation's tax election adopts pass-through taxation-thereby sidestepping the double taxation burden borne by C corporations.

S corporations file an informational tax return (much like a partnership) but the entity pays no tax. The shareholders report their share of the S corporation's profit or loss on their individual tax returns.
  • Limited Liability Company

The limited liability company (LLC) is often described as a hybrid business form. It combines the liability protection of a corporation with the tax treatment and ease of administration of a partnership. The LLC is America's newest form of business organization; the great bulk of laws authorizing LLCs in the United States were passed in the 1980s and 1990s. The watershed event in the rise of the LLC was a 1988 IRS ruling that recognized partnership tax treatment for LLCs. Within 6 years, 46 states authorized LLCs as a business form.

LLCs enjoy pass-through taxation-thereby sidestepping the double taxation burden borne by C corporations. LLCs file an informational tax return (much like a partnership) but the entity pays no tax. The members (owners) report their share of the LLC's profit or loss on their individual tax returns. A note-of-caution, some states including Texas have reformed their tax laws to include a Franchise Tax for LLC's and PLLC's on profits over a certain amount.

LLCs can be formed only through filing a charter document (typically called articles of organization) in the appropriate state and paying the required filing fee.
  • Professional Limited Liability Companies

Professional limited liability companies (PLLCs) are specialized entities organized and operated solely by licensed professionals such as attorneys, accountants, and architects. The members (owners) of a PLLC may enjoy personal liability protection from the acts of other members, but each member remains liable for his or her own professional misconduct. Not all states recognize the PLLC business form.

Some State laws generally require PLLCs to maintain generous insurance policies or cash reserves to pay claims brought against the corporation.

PLLCs are formed in a similar manner to standard corporations and LLCs by filing formation papers with the appropriate state agency and paying the necessary filing fee.
  • Professional Corporations And Professional Associations

Professional corporations (PCs) and Professional Associations (PAs) are specialized entities organized and operated solely by licensed professionals such as attorneys, accountants, and architects. The shareholders of a PC or PA may enjoy personal liability protection from the acts of other shareholders, but each shareholder remains liable for his or her own professional misconduct.

Not all states recognize the PC or PA business form.  Some State laws require PCs and PAs to maintain minimum amounts of professional insurance or cash reserves to pay claims brought against the corporation or association.

PCs and PAs are formed in a similar manner to standard corporations and LLCs, by filing formation papers with the appropriate state agency and paying the necessary filing fee.
  • Nonprofit Corporation

A nonprofit corporation is an entity formed for purposes of pursuing a matter of public concern for non-commercial purposes. Nonprofit corporations are authorized by different statutes than standard for-profit corporations; however, the process of forming a nonprofit is closely parallel. Nonprofit corporation organizers must file nonprofit articles of incorporation or a certificate of incorporation with the appropriate state agency and pay the required filing fee. The formation documents must include certain clauses and information, such as a very detailed business purpose statement, in order for the entity to qualify for tax-exempt status.

To pursue tax-exempt status, nonprofits must apply for federal and state (if applicable) tax-exempt status. Tax-exempt status is not automatically granted upon formation. To apply for federal tax-exempt status, a nonprofit must file Form 1023 with the IRS. For state requirements, it is best to contact the department responsible for taxation in the non-profit state of formation.
Like standard for-profit corporations, nonprofits provide limited liability protection. The personal assets of the directors, officers and members typically cannot be used to satisfy the debts and liabilities of the nonprofit.

The most common type of nonprofit is the 501(c)(3), meaning it is formed in compliance with Section 501(c)(3) of the Internal Revenue Code. These nonprofits are organized and operate for a religious, educational, charitable, scientific, literary, testing for public safety, fostering of national or international amateur sports, or prevention of cruelty to animals or children purpose as permitted under this section of the Internal Revenue Code. Nonprofits may also be formed for other purposes pursuant to different sections of the Internal Revenue Code. For example, business leagues, chambers of commerce, and real estate boards are formed under Section 501(c)(6) of the Internal Revenue Code, and a cooperative hospital service organization is formed under Section 501(e).
 

Step 2:  Federal, State, Austin and Employment Tax Responsibilities

An equally important step in the development of your business is your determine and comply with the various overlapping tax responsibilities of your new business. The following information will guide you to the appropriate Federal, State and Austin agencies who administer business taxes.

(i)  Federal Tax

The Internal Revenue Service (IRS) governs all things related to tax collection at the federal level. In addition, the IRS provides a wealth of business tax related information for small business owners. Simply click on the link below and you will soon be on your way to understand your federal tax responsibilities.

The local IRS Taxpayer Assistance Center provides walk in face-to-face assistance.

(ii)  State Tax

Some states impose a state income tax upon businesses.  All states have sales and use taxes that can apply to businesses.  In some states the agency handling such taxes is referred to as the Department of Revenue.  In Texas there is no personal income tax and technically no corporation income tax, although corporations are subject to a franchise tax that basically applies to corporations with more than a million dollars in assets or more than a million dollars in annual gross revenues.  The franchise tax is very low even in the situations where it does apply.  The Texas Comptroller of Public Accounts is the agency responsible for the administration and collection of the franchise tax and state and local sales tax for businesses operating in the State of Texas.  The following link provides an informative guide that will educate you on the what, when, where, why and how of sales and franchise taxes. Texas Comptroller of Public Accounts 111 East 17th Street Austin, Texas 78711 512-463-4600 or 800-252-5555

(iii)  City Taxes

In some states city income taxes exist along with city and/or county sales taxes, personal property taxes, and other fees.  Texas has no city income taxes.  However, most cities or counties will impose city and/or county sales taxes and a business personal property tax upon businesses that own tangible personal property and use that property to produce income.

(iv)  Employment Tax

Internal Revenue Service - Provides specific information regarding your federal employment tax responsibilities.
Texas Workforce Commission - Provides specific information regarding your state and local employment tax responsibilities.

Step 3: Business Licenses and Permits by Business Type

According to Texas Wide Open for Business, the State of Texas does not require a general "business" license; however, there are a number of regulatory agencies that have licensing and permitting requirements based on the type of service, or products associated with your business.  To ensure that all permitting requirements are met, you should contact the local county and/or city government in which you plan to conduct business to determine if there are any additional requirements.  To determine state occupational licensing and permitting requirements, please visit the Texas Department of Licensing and Regulation (TDLR), specifically the TDLR Licensed Programs tab, for more information.  Other states and many cities and/or counties, including Texas, do often require a general business license be obtained from the local city and/or county administration building or clerk’s office.

Step 4: Business Employer Requirements

Texas Wide Open for Business section on employer requirements is a one stop shop for small business owners. The information provided will help entrepreneurs understand and comply with federal and state employer requirements.  There are a number of labor, safety, and reporting laws relating to employment of personnel, thus it is vitally important for small business owners to increase their knowledge and ensure they are in compliance. Click here for more information.  Additionally, the Texas Workforce Commission publishes a great resource for employers. The Especially for Texas Employers is a step by step guide that walks employers and employees thru every aspect of Texas employment law.

Step 5:  Workers Compensation

Workers’ compensation is a state-regulated insurance system that provides covered employees with income and medical benefits if they are injured on the job or have a work-related injury or illness.  Except in cases of gross negligence, workers’ compensation insurance limits an employer’s liability if an employee brings suit against the employer for damages.  In Texas, unlike in most other states, private employers can choose whether or not to carry workers’ compensation insurance coverage.  Visit Texas Department of Insurance for more info

Note:  That the failure to carry workers compensation insurance means the business/employer has additional potential liabilities not and the loss of some defenses in situations where an employee is injured on the job.  A business should not elect to do without workers compensation insurance without first consulting a qualitied business attorney.

Note: New business owners should always seek the guidance of a professional tax and business lawyer.  A business attorney can verify all legal requirements are met before operating a businessa, and make sure the structure of the business and the agreements between the owners of the business provide for smooth operations well into the future in a manner that allows for the non-judicial resolution of disputes between the owners, etc.  A little effort now can save you a lot later!

Formation Lawyers Working Hard to Meet Your Goals

We know that you want to find a solution to your legal concerns as quickly and affordably as possible. And we're here to help. We will be your strongest advocate at every stage.

Call 512-481-2886 or e-mail usto schedule a consultation. We will listen to your concerns and give you our honest opinion about your case.

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