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Tax Tips – November 2017


Posted on: November 10th, 2017 by sashworth No Comments

Using Children’s IRAs to Pay for College  If your child has earned income (maybe from working in your business), you may want to consider establishing an IRA for your child. The IRA funds can, in turn, be used to help pay your child’s college expenses. When your child withdraws money from an IRA, tax law […]



What is a Buy-Sell Agreement


Posted on: June 11th, 2014 by sashworth No Comments

  What is a Buy-Sell Agreement? Written by Peter McFarland, Esq. on 6/6/14 It’s exciting to start a new business.  But starting a new business takes so much time and energy, we’ve noticed that our clients often don’t focus on their exit strategies.  Important life events can have a large impact on a business and […]



What if I Can’t Pay my IRS Bill?


Posted on: April 22nd, 2014 by sashworth No Comments

  Written by Peter McFarland, Esq.   So you’ve filed your tax return.  Maybe it was late and the IRS added penalties or maybe you just couldn’t afford to pay what the return said you owed.  Now the IRS is sending notices and you just can’t possibly pay them. If you find yourself in this […]



Lease Essentials for Every Landlord and Tenant


Posted on: April 16th, 2014 by sashworth No Comments

Lease Essentials for Every Landlord and Tenant Written by Peter McFarland, Esq. on 4/2/2014 As a landlord or tenant, you know that the lease you sign will be the written expression of the agreement you negotiated for the rental of a property.  But how important is the lease document when the rubber meets the road?  […]



What is the Warranty of Habitability?


Posted on: April 16th, 2014 by sashworth No Comments

What is the Warranty of Habitability? Written by Peter McFarland, Esq. on 4/2/2014 Prior to 2008, whether a property was fit to be rented to a tenant was left up to the landlord.  In September of 2008, however, the legal landscape changed with the enacting of the implied Warranty of Habitability.  Colorado is the 49th […]



What is a Statutory Notice of Deficiency?


Posted on: April 16th, 2014 by sashworth No Comments

What is a Statutory Notice of Deficiency? Written by Peter McFarland, Esq. on 4/2/2014 When the IRS believes that it is owed tax for a particular year, the IRS is required by law to send you what is called a “Statutory Notice of Deficiency.”  Known as the ticket to United States Tax Court, how do […]



Who is the Taxpayer Advocate Service?


Posted on: April 16th, 2014 by sashworth No Comments

Who is the Taxpayer Advocate Service? Written by Peter McFarland, Esq. on 4/1/2014 Did you know that the IRS has a special wing within its operations whose sole purpose is to provide oversight and intervene when the IRS is acting unfairly or causing undue delay?  The IRS has its own safety-valve, called the Taxpayer Advocate […]



What is an Offer in Compromise?


Posted on: April 9th, 2014 by sashworth No Comments

  Written by Peter McFarland, Esq.   Offers in Compromise are always a hot topic with clients when discussing unpaid taxes.  However, some practitioners do not understand how difficult submitting an offer can be, and this confusion is often passed down to their former clients who wind up in our office when the first offer […]



What is an Installment Agreement?


Posted on: March 13th, 2014 by sashworth No Comments

  Written by Peter McFarland, Esq. on 10/3/2013   As a practitioner, I often meet with clients who have received notices from the IRS stating that they owe several thousands of dollars and must pay it by a certain date.  These clients feel overwhelmed, stressed, and feel like they are out of options because they […]



Obtaining Relief from IRS Penalties


Posted on: February 27th, 2014 by sashworth No Comments

  Written by Peter McFarland, Esq. If you find yourself with a notice in hand from the IRS, you will likely see a penalty or two assessed on your account. Often IRS penalties will add a significant portion to the total amount you need to pay. Relief from these penalties can be obtained and it […]