Whether Married Lawyers Should File Separate Tax Returns
In most cases, filing jointly is beneficial because you will pay less taxes. But there are some situations that filing separately may be most beneficial financially.
Defusing the Student Loan Forgiveness Tax Bomb
Debt forgiveness isn't the same as tax forgiveness. Here's how to avoid an unexpected student loan tax bomb.
Income-Based Repayment Is A Trap!
If you are a recent law school grad, you may have taken advantage of some student loan repayment plans that are slightly less awful than normal student loan repayment plans. You pay a fixed percentage of your (probably regrettably more meager than you would like) discretionary income and at the end of 20 to 25 […]
How to Deduct Travel Expenses
As a lawyer, you often have to travel to serve your clients. Sitting around is simply not an option. Make sure to deduct those travel expenses for your next tax filing.
How to Tell Whether Your Bad Date is Tax Deductible
Deducting entertainment expenses is complicated to do. Nonetheless, if done right, you may be able to write off that bad date you recently went on.
The Solo Lawyer’s Guide to Tax Deductions
Minimize your tax bill with deductions and avoid an argument with a tax advisor, or worse, an IRS auditor
Year-End Tax Planning for Lawyers
A little planning goes a long way. It is actually pretty easy to stay on top of your taxes if you start the year with good estimates and end the year fine-tuning your liability with the help of your accountant.
“In most states, there is no reason to form a Corporation anymore “
CPA/attorney and LAB member, Jeff Vandrew, on the difference between entity choice and tax status: A single member LLC has a choice of the following tax statutes: disregarded entity (like a sole proprietorship), S-corporation, or C-corporation. A multi-member LLC has a choice of the following tax statutes: partnership, S-corporation, or C-corporation. A corporation has a […]
Tax Deductions and Pro Bono Work
You can't deduct the value of your time and services for charity, but you may be able to deduct other expenses for your pro bono services.