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August 2012 Archives

1993 California tax law ruled illegal

California is in competition with other states. We want the smartest children to come to our colleges. We would like people to buy our oranges rather than Florida's. And we are rightfully proud of Silicon Valley's reputation, Hollywood's entertainment value and our beautiful national parks.

IRS plays hardball and increasingly uses summons

Many people in California may be unaware of all of the tools that the Internal Revenue Service has at its disposal. If you are an individual, sole proprietor or business owner, you may one day have the first-hand experience of opening a letter from the IRS in which they request more information about a tax return.

Olympic gold is taxable (likewise silver and bronze)

Olympic athletes often give up a lot to pursue their sport. They may delay college, marriage, children or "real" jobs. They train and practice long and hard with the hope of getting a gold, silver or bronze medal. However, when they win that medal, they come home to a tax bill. That hardly seems fair does it?

IRS drops the ball -- identity thieves cash in

As we enter the fall election cycle, California and the rest of the nation is talking about the economy, employment and taxes. Recently the Treasury Department released information that affects all three of those contentious topics.

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Law Offices of Connie Yi, PC
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