The Statistics of Income bulletin can be interesting to read because the information compares certain tax related figures such as income, adjusted gross income, tax credits and other issues from tax year to tax year.  The article below discusses a few of the figures and statistics that have recently been released on the spring of...Read More

A tax attorney at The McGuire Law Firm can assist you if you receive a Notice of Deficiency (sometimes called a CP 2000)from the Internal Revenue Service. The video below has been prepared to provide general information regarding an IRS Notice of Deficiency.  Please contact our law firm with any questions.Read More

The video below discusses the annual gift tax exclusion.  If you have questions regarding gifting or the tax implications of gifting, please feel free to contact The McGuire Law Firm.   IRS Frequently Asked Gift Tax Questions  Read More

Form 1120S is the corporate income tax return form for S Corporations, whereby a corporation will state items of income, expenses and thus net income.  Further, a shareholder’s K1 will be attached to the 1120S.   Contact The McGuire Law Firm to schedule a free consultation with a Denver Tax Attorney!Read More

Many individuals have rental properties and will ask questions regarding the tax implications of such rental income.  In the video below a Denver tax lawyer  discusses general issues regarding rental income, including Schedule E, which is generally where rental income would be claimed.   You can contact The McGuire Law Firm to speak with a...Read More

In a previous article, we discussed a stock swap statutory merger, which may be considered a “plain vanilla” statutory merger between two corporations.  It was also noted that this merger would be a tax free reorganization, known as an A Reorganization.  Certainly, not all mergers are tax free reorganizations.  The article below has been drafted...Read More

Receiving a Letter 1058 from the Internal Revenue Service may be quite scary.  Letter 1058 is a Final Notice of Intent to Levy by the IRS.  This means that if you take no action, you are in jeopardy of the IRS levying your bank accounts, garnishing wages or third party monies owed to you and...Read More

A collection due process hearing is a hearing afforded to taxpayers with certain issues before the IRS.  This hearing may help in resolving a tax matter such as a tax debt, and provides due process to the taxpayer.  The video below has prepared by a Denver tax attorney at The McGuire Law Firm to provide...Read More

The collapsible partnership rule has been discussed in previous articles.  The article below is an example of a transaction whereby the collapsible partnership rule would apply.  The example below should help illustrate when the sale of a partnership interest can generate ordinary income and the allocation of basis to determine the amount of ordinary income...Read More

A partnership agreement may be one of the most important documents for your partnership.  This agreement can govern the day to day operations of the partnership, how important business decisions are made, how income, gain and loss is allocated and more.  A business attorney at The McGuire Law Firm can discuss this agreement with you...Read More