taxes

debt bomb

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.

How Trump’s Tax Proposals Could Affect You and Your Firm

President-Elect Trump has proposed sweeping changes to the tax code. Here are some ways in which those proposed changes could affect you.

Why Your Tax Bill Could Be Higher Than You Thought

Several things can affect your tax bill. Here are some things to keep in mind as you do your end-of-year tax planning.

Law Firm Tax Planning 101

business travel expenses

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.

tax deducation

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.

7 Reasons You Might Get Audited

Unfortunately, there is no full-proof way to prevent a tax audit. But unexpectedly preparing for and enduring an IRS audit is a major time suck and about as entertaining as watching paint dry.

The Pros and Cons of Incorporating Your Practice As A Solo Practitioner

Setting up a business entity can minimize your annual tax bill. Many successful solo attorneys operate their practice as a corporation or other separate entity. Here's how you will determine if that is right for you.

How Attorneys Can Help Lottery Winners

Last week, three Powerball ticket holders won the record $1.6 billion jackpot. Lottery winners are advised to hire an attorney to protect their money from scammers, opportunists and tax collectors. Here are some of the common issues that lottery winners and overnight millionaires will face. Ticket Disputes A large jackpot involving multiple people can lead […]

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.

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.