If you are under audit by the IRS, have received a notice of deficiency or the IRS is attempting to collect past due taxes, you can receive representation. The video below has been prepared by a tax attorney at The McGuire Law Firm to provide information regarding who can represent you before the Internal Revenue […]

When is a Collection Due Process Hearing Available?

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•Denver Tax Attorneys, IRS Matters & Disputes, McGuire Law Firm, Videos

•Collection Due Process Hearing, Denver Tax Attorney, Taxpayer Bill of Rights

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A taxpayer has the right to a collection due process hearing with the Internal Revenue Service Appeals Office under certain circumstances. This hearing can be very beneficial to a taxpayer in terms of preventing enforcement action such as a bank levy or wage garnishment and by a means to establish or propose an agreement with […]

IRS Appeal Rights

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•Denver Tax Attorneys, IRS Matters & Disputes, McGuire Law Firm

•Denver Tax Attorney, IRS Appeals, IRS Rights

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What are my rights as a taxpayer? What appeal rights do I have regarding IRS actions or decisions? These are common questions a taxpayer may have when a tax liability is owed to the IRS and the taxpayer is in the collection process with the IRS. The information below has been provided for general information […]

Deducting Business Expenses

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•Denver Small Business Attorney, Denver Tax Attorneys, McGuire Law Firm

•Deducting Business Expenses, Denver Business Attorney, Denver Tax Attorney

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Can I deduct my meals as a business expense? Can I deduct this flight as a business expense? Can I deduct the cost of my clothes or uniform as a business expense? As a tax attorney, these are common questions I am asked, and rightfully so as everyone wants to take advantage of all potential […]

Attempting to Avoid Shareholder Loan Reclassification

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•Denver Business Attorneys, Denver Tax Attorneys

•Denver Business Attorney, Denver Tax Attorney, Loans to Shareholder

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Many corporate shareholders may have taken a loan from their corporation. In a prior article, we discussed issues related to corporate loans and issues considered regarding the reclassification of a loan. The article below discusses issues and actions a shareholder may consider taking to prevent the reclassification of a loan. Please remember that this article […]

Rental Losses

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•Denver Tax Attorneys, McGuire Law Firm

•Denver Tax Attorney, Rental Income, Rental Losses

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Individuals holding property for rent. Rental properties can make good investment options as they diversify an individual’s overall portfolio, the mortgage can often be satisfied by the rental payments as equity grows in the property, and with the allowable deductions, including depreciation, a loss may exist that allows the individual to lower their total income […]

Loans to S Corporation Shareholder

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•Denver Business Attorneys, Denver Tax Attorneys

•Denver Tax Attorney, Loans to Sharehold, S Corporation

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Often times a payment or payments to S corporation shareholders will be booked or accounted for as a loan to shareholders. Sometimes this is purposeful, other times, it may be due to a lack of options. These loans can be advantageous with the proper planning and/or under certain circumstances, but they can also create and […]

Embezzlement or Fraud Involved With 941 Taxes

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•Denver Tax Attorneys, IRS Matters & Disputes

•941 Tax Debt, Denver Tax Attorney, Embezzlement and Tax Debt

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Embezzlement or theft may be a more frequent issue faced by small and medium sized businesses than many people think. Often office managers or employees will improperly take money or assets from a business. Although, perhaps not as common as an employee misappropriating monies or assets, I have seen professionals, such as the businesses CPA […]

Residency and Estate Taxes

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•Denver Tax Attorneys, McGuire Law Firm

•Denver Tax Attorney, Estate Tax, Residency and Estate Tax

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What is the effect of an individual’s residency and the application of estate taxes? This may be an issue that does not apply to you or your clients because you or your client is a citizen of the United States and thus the law is relatively clear that tax on the individual’s estate is subject […]

Passive Activities Discussed by Denver Tax Attorney

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•Denver Tax Attorneys, McGuire Law Firm

•Denver Tax Attorney, Passive Activities, Passive Activity Loss

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Many individuals do not understand passive activities & passive losses and the Internal Revenue Code Sections and Treasury Regulations that provide the tax law surrounding passive activities. Further, you may not be aware that losses from passive activities may be disallowed or “suspended” so to speak. John McGuire, is a tax attorney at The McGuire […]

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