Tax Resources
Internal Revenue Service
Visit the IRS website at www.irs.gov to file a simple tax return online, check your refund status, and read about IRS rules and regulations.
California Franchise Tax Board
Visit www.ftb.ca.gov for California income tax forms, calculators, and updates for California’s tax law.
L & S Tax Blog
Visit the L & S Tax blog for updates and information from the Partners at L & S Tax Services.
Artist wins vs IRS
/0 Comments/in Blog /by lstaxservices_i8x1k2If you create art and try to sell it, can you deduct your related expenses? If your art is just a hobby then you can deduct expenses up to the amount of income, but if it is a business then all related expenses are deductible even if your expenses exceed your income. In a recent […]
Dave Ramsey show
/1 Comment/in Blog /by lstaxservices_i8x1k2Dave Ramsey is a bright guy who gives a lot of great advice about budgeting and personal finance, but he’s not a tax expert. Recently I heard a caller ask him whether he should incorporate and Dave made an incorrect statement regarding corporate taxes. Whether to incorporate your business is a question for your local […]
Is the IRS ever held accountable?
/2 Comments/in Blog /by lstaxservices_i8x1k2Yes they are and here’s an example. In the Swiggart case just decided in the US Tax Court, the IRS was required to pay reasonable attorneys fees for taxpayer’s lawyer because they failed to follow the Internal Revenue Code in failing to abate a penalty related to a math error. It’s a small victory but […]