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Fouts Your Hobby Business could land you in tax court

Your hobby business could land you in tax court – avoid IRS pitfalls

By taxinator On June 12, 2013 · Add Comment
What do fishing, golfing, track and field, and prostitution have in common? All these are real cases of 'Hobby' Businesses that were contested in tax court with the IRS. Some people won their case, others did not. Find out more about how the IRS views small hobby businesses and avoid IRS pitfalls by how you structure your business.
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Tax trouble with your hobby or small business Fouts Law Group

Tax trouble with your Hobby or Small Business

By taxinator On June 11, 2013 · Add Comment
If you have a hobby that you have turned into a business, know that one of the top 5 reasons for an IRS audit is claiming “hobby losses” against your new hobby/business.
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Why I love my profession as a tax attorney

On June 7, 2013 By Jeff Fouts
You shouldn’t hire someone who doesn’t love what they do. That’s why I recorded this video about why I love helping people with their tax problems. Hi, I’m Jeff Fouts, a tax attorney located in metro Atlanta, with a nationwide law practice helping clients who have serious IRS problems. I get asked “Why I love [...]
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Why the Wealthy Care So Much About Taxes

On June 6, 2013 By taxinator
In tough economic times there is always a lot of noise about who is paying their fair share of taxes. With all the political views being expressed it’s hard to tell fact from fiction. That’s why we liked a new report published in May 2013 from the the National [...]
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Why you SHOULD NOT File ALL Your Unfiled IRS Tax Returns

On June 5, 2013 By Jeff Fouts
Clients who have unfiled tax returns generally think they must file all of their unfiled tax returns. This is not correct. The IRS generally doesn’t even want you to file all your unfiled tax returns. It simply isn’t necessary. Accountants often make this mistake and it often ends up costing their clients thousands of dollars [...]
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IRS Says: Don’t Pay the rest of your tax debt

On May 22, 2013 By Jeff Fouts
The IRS says: Thanks, but no thanks. We Don’t Want You to Pay the rest of your tax debt. The IRS is supposed to act consistently. That means that they are supposed to be reasonably predictable, and not random and unpredictable. Why? Because it’s only fair that taxpayers who are in similar situations should be [...]
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Two Kinds of IRS Tax Collectors

On May 21, 2013 By Jeff Fouts
The IRS has six divisions, some of these are: Examination (audit) Appeals Office of General Counsel Criminal Investigation Collection I am going to talk about the division that most often affects our clients the most drastically, and that is the Collection division. The job of the Collection personnel is to come after you: to collect [...]
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Freelancer Tax Pitfalls

On May 15, 2013 By taxinator
In 2005, only 7.4% of the American workforce was classified as freelance or independent contractors, but now, experts predict that by 2020 freelancers will make up over 50% of the American workforce. During the recent economic collapse, many people left the traditional workforce and now work from home in a variety of industries. Some chose [...]
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Fixing and Understanding Common Georgia Sales Tax Problems

On May 13, 2013 By Jeff Fouts
Why Do Businesses Have Problems with Georgia Sales Tax? Georgia sales tax is a tax that the state of Georgia or a municipality demands must be added to the purchase price of a good or service. The person who sells the good or service is the person who is supposed to collect the sales tax. [...]
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5 Small Business Tax Mistakes the IRS Scrutinizes (avoid a costly audit)

On May 10, 2013 By taxinator
At the 2012 IRS Convention in Las Vegas, this statement was made: “The Small Business is our largest audit group.” Well, they are out there on the prowl. The IRS is targeting small businesses and any anomaly on your tax return can turn their crosshairs on you. Since 2009, the percentage of small business audits [...]
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Recent Posts

  • Your hobby business could land you in tax court – avoid IRS pitfalls
  • Tax trouble with your Hobby or Small Business
  • Why I love my profession as a tax attorney
  • Why the Wealthy Care So Much About Taxes

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Fouts Law Group, LLC

572 Maddox Drive, Suite 213
Ellijay, GA 30540
Tel : (706) 636-5291
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Tax Attorney and IRS Defense Lawyer