Phil Mickelson Wins British Open—And California Taxes It Tax relief is what Phil Mickelson needs after his CA tax bill from the British Open. According to Sports Illustrated, Phil Mickelson made $36 million last year from his sponsors. Companies such as KPMG, Barclays, and Callaway endorse Mickelson. His recent win in the British Open escalates his… Continue reading →
Tax Breaks: Same-Sex Marriages will Receive Equality Across the Entire Nation
A new ruling has declared tax breaks for same sex marriages since they will now receive equality across the entire nation.The Defense of Marriage Act (DOMA), enacted by Bill Clinton in 1996, was terminated this summer. This act, which allowed same-sex couples to receive the same tax benefits as heterosexual couples, was recently repealed by a… Continue reading →
Small Businesses May Owe Back Taxes In California
A court ruling from December of 2012 could result in many small business investors in California owing large sums of money in back taxes from a practice now deemed unconstitutional. Five years ago many small business investors in California were promised a tax break. The investors were told that if they invested in specific types… Continue reading →
Offer in Compromise Settled for 3% of Tax Due – $200,000 Reduced to $6,000!
In January of 2013, Professional Tax Resolution received a call from Mr. E. who owed the IRS over $200,000 that he could not afford to pay. The majority of his tax debt came from the short sale of a home in a prior tax year, which resulted in a balance due of $165,000 for that… Continue reading →
Top Earners Not to Retire?
The American dream used to be to get rich young and retire by the age of 40. However, the results of a recent survey by the Spectrem Group indicate that the current goal for many wealthy Americans is to work past the age of 70. This survey revealed that America’s uppermost wage earners do not… Continue reading →
Summer Tax Basics – Tax Tips to Keep You Ahead of the Game!
It’s summertime and probably the last thing you want to think about is taxes! However, I am an organizer and I like to be prepared so at least I feel like I am ahead of the game…. Here are some easy and simple summer tax tips that will help you save money! Most people wait… Continue reading →
