Brotman Law

Bankruptcy and Automatic Stay

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According to United States bankruptcy law, an automatic stay is defined as an automatic injunction, the purpose of which halts the actions of creditors to collect debts from a debtor who has filed for bankruptcy relief.

Provisions for automatic stay fall under section 362 of the U.S. Bankruptcy Code, which suggests that the stay begins automatically when the debtor files a petition with the bankruptcy court.

Although a stay is automatic, secured creditors may file a petition with the bankruptcy court for relief against the automatic stay if they can show cause.

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International Tax Compliance

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For a wide variety of reasons, many Americans have assets in foreign countries.

Some have left established businesses and homes, fleeing persecution in their country of origin.

There are those who have fled war-torn regions of the world and left their assets in tax havens; or maintain foreign financial accounts to support family abroad.

Other individuals with immigrant roots may have inherited from a relative in the old country who passed away and left them a sum of money abroad.

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California Payroll Tax Audits and Defending Independent Contractors

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You may be familiar with or have heard of a twelve-factor test or a three-factor test or a lot of different tests that the EDD supposedly uses to classify independent contractors.

Through my years of professional experience and time spent in a lot of California payroll tax audits, I will just tell you that a lot of this stuff is bogus.

Audits of independent contractors essentially come down to two things:

  1. revenue generation, and
  2. control.

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IRS Offer in Compromise: What to Do When They Are Rejected – Part One

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IRS Offer in Compromise Appeals – Introduction

As a refresher to the reader, an IRS offer in compromise is a tax settlement with the IRS where the taxpayer agrees to pay a specified sum and the IRS agrees to compromise on the remaining liability.

Many people have seen the various national tax agencies on daytime television offering to settle your tax debt for pennies on the dollar. However, what is left out of their sales pitch is that nearly eighty percent of IRS offer in compromises are rejected for a variety of reasons. This is not entirely a bad thing, but requires some strategic planning on the part of the taxpayer.

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The Differences Between the Federal System and the State of California

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As a small business owner, you are used to dealing with the IRS and the state. You file income taxes with the IRS every year and file returns with the state when they are due. Paying tax is paying tax, right? So, why is there such a difference between the way the IRS plays versus the state?

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Real Property Tax Strategies: The 1031 Exchanges

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Benjamin Franklin once said, “Our new Constitution is now established, everything seems to promise it will be durable; but, in this world, nothing is certain except death and taxes.” Franklin may have been correct regarding the certainty of death, but was he correct about the certainty of taxes?

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