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Episode 3: Dealing with IRS Exams (Worker Misclassification)

Legal Thought’s – Episode 3 of Dealing with IRS Exams (Worker Misclassification) Coleman Jackson, P.C. | Transcript of Legal Thoughts Published August 14, 2023 Attorney introduction: Welcome to Legal Thoughts! My name is Coleman Jackson and I am an attorney at Coleman Jackson, P.C., a taxation, litigation, and immigration law firm based in Dallas, Texas. In addition…

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The Worker: Employee or Independent Contractor?

The Worker:  Employee or Independent Contractor? Why does it matter legally how workers are classified? By Coleman Jackson, Attorney, and CPA. Date: June 14, 2023. Are your workers employees or independent contractors?    Why does it matter legally how workers are classified? How should you make the determination as to whether a worker is classified as…

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FACTS MATTER! TAXPAYERS CAN WIN WILLFUL FAILURE TO FILE FBAR CASES IN COURT!

FACTS MATTER!  TAXPAYERS CAN WIN WILLFUL FAILURE TO FILE FBAR CASES IN COURT! By Coleman Jackson, Attorney, CPA March 16, 2023 Under United States law an annual reporting and disclosure responsibility is placed on any United States person with any financial interest in or signatory authority over, a bank, brokerage, stock, or any other financial…

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THE U.S. SUPREME COURT OPINED THAT THE REPORT OF FOREIGN BANK AND FINANCIAL ACCOUNTS MAXIMUM NONWILLFUL VIOLATION PENALTY IS $10,000 PER FBAR NOT PER ACCOUNT

THE U.S. SUPREME COURT OPINED THAT THE REPORT OF FOREIGN BANK AND FINANCIAL ACCOUNTS MAXIMUM NONWILLFUL VIOLATION PENALTY IS $10,000 PER FBAR NOT PER ACCOUNT By:  Coleman Jackson, Attorney & Certified Public Accountant March 6, 2023 The Bank Secrecy Act (BSA) and its implementing regulations require certain individuals to file annual reports with the federal…

Federal Taxation of Real Estate Investment Trusts REITs and FINCen’s Beneficial Owner Reports

By:  Coleman Jackson, Attorney & Certified Public Accountant January 17, 2023 General Definition of Real Estate Investment Trust: For federal tax purposes, Internal Revenue Code Section 856 defines the term real estate investment trust as any corporation, trust, or association which is managed by one or more trustees or directors where the beneficial ownership is…

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EPISODE 3: Starting Your First Business in Texas – State and Federal Tax Obligations and the Upcoming FinCEN BOI Reports

Coleman Jackson, P.C. | Transcript of Legal Thoughts Published December 26, 2022 Overview:   Legal Thoughts is an audiocast presentation by Coleman Jackson, P.C., a law firm based in Dallas, Texas serving individuals, businesses, and agencies from around the world in taxation, contract litigation, and immigration legal matters. This episode of Legal Thoughts is an audiocast…

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THE IRS COLLECTION PROCESS AND TAXPAYER’S OPTIONS

Coleman Jackson, P.C. | Transcript of Legal Thoughts LEGAL THOUGHTS:  THE IRS COLLECTION PROCESS AND TAXPAYER’S OPTIONS | Published November 28, 2022 Listen: Legal Thoughts is an audiocast presentation by Coleman Jackson, P.C., a law firm based in Dallas, Texas serving individuals, businesses, and agencies from around the world in taxation, litigation, and immigration legal…

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Taxpayer’s Responsibility to Substantiate the Numbers on Their Federal Tax Return

By Coleman Jackson, Attorney and Certified Public Accountant October 11, 2022 As a general rule a taxpayer is allowed a deduction for all ordinary and necessary expenses paid or incurred during the taxable year in carrying on a trade or business.  This basic tax rule is set forth in Internal Revenue Code Section 162.  The particular…

EPISODE 1: 2022 Inflation Reduction Act – Three Federal Tax Implications You Ought to Know About

Coleman Jackson, P.C. | Transcript of Legal Thoughts Published October 31, 2022 Overview: Legal Thoughts is an audiocast presentation by Coleman Jackson, P.C., a law firm based in Dallas, Texas serving individuals, businesses, and agencies from around the world in taxation, litigation, and immigration legal matters. This episode of Legal Thoughts is an audiocast where…

EPISODE 2: Starting your first business in Texas – Assumed names use in Texas

Coleman Jackson, P.C. | Transcript of Legal Thoughts Published October 17, 2022 Overview: Legal Thoughts is an audiocast presentation by Coleman Jackson, P.C., a law firm based in Dallas, Texas serving individuals, businesses, and agencies from around the world in taxation, litigation, and immigration legal matters. This episode of Legal Thoughts is an audiocast where…