How to Handle a Subpoena From the SEC
Receiving a subpoena from the Securities and Exchange Commission (SEC) may seem daunting at first. If you do receive one, the first thing you should do is take a deep breath and not panic. You should assess your situation, and ultimately—and calmly—proceed with the...
Handling Taxes for a Property Overseas
Many Americans hold property overseas that may have tax implications in the United States. You might own a vacation property in the Bahamas and are looking to sell the home. You might be working abroad and have a bank account in the United Kingdom. What kind of...
Starting a Business: What Entity Should I Choose?
When starting a business, one of the first questions you will need to answer is how you should structure your business. Should you start a company? Or is filing as a limited liability company the best route? Whether launching a new bagel shop or starting a landscaping...
What to Do If You Receive a Letter from the Internal Revenue Service
For most people who do not work with the Internal Revenue Service (IRS) on a regular basis, when you receive a letter in the mail from the IRS, you may feel panicked. You might want to leave the letter unopened, or throw it away and never think about it again....
Active and Passive Businesses and the Proposed Tax Reform Bill
Welcome back, dear reader. I acknowledge that some time has passed since I’ve checked in. When things are too quiet here on the blog, that’s just the quiet before the storm. Oh, how the storm has come to the mental and physical plains inhabited by Brinen & Associates.
Small Businesses Need Continuity Plans, Too
Given the goings-on since our last post, we need to discuss the importance of disaster preparedness for small businesses. According to FEMA.gov, almost 40 percent of small businesses never reopen following a disaster because just a few inches of water can cause tens of thousands of dollars in damage. I find that unacceptable, especially because it can be prevented in many cases.