tax attorney Tag

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5 Tips to Beat the April 15th Tax Deadline

The April 15th tax deadline is fast approaching. Whether you are working with a CPA or a tax attorney, being prepared is the best way to ensure your filing process is smooth and stress-free. In our latest 5 on Fridays video, managing attorney Mark Milton breaks down five essential tips to help you get your taxes done on time and accurately. https://youtube.com/shorts/Vn-oFOyUt7o?si=awNrSJTzD2jgHWGu 1. Complete Your Organizer Almost every tax preparer or CPA sends out a tax organizer. It is vital to complete this as thoroughly and quickly as possible. Don’t leave sections blank - especially when it comes to your banking information. The...

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Struggling with IRS Tax Debt? Here Are 5 Ways to Resolve It

Facing the IRS can be overwhelming, but you don’t have to do it alone. In our latest 5 on Fridays video, managing attorney Mark Milton breaks down the five primary methods for resolving your IRS tax debt. Whether you can afford to pay in full or need a fresh start, there is likely a path forward for you. https://www.youtube.com/shorts/OSGtBn2kvS0 1. Pay in Full (With a Catch) It’s the option no one wants to hear, but if you have the assets and income, paying the debt in full is the fastest way to stop the accrual of interest. However, before you write that check,...

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Small Business Tax Tips: 5 Ways to Avoid IRS Liability

Running a small business involves juggling a dozen different responsibilities at once. However, there is one ball you simply cannot drop: your tax obligations. The IRS is notoriously aggressive when it comes to business compliance, particularly regarding monies held in trust. https://youtube.com/shorts/XyQGzyw3jXw?feature=share In this week's edition of "5 on Fridays," Managing Attorney Mark Milton speaks directly to small business owners about how to stay profitable, compliant, and—most importantly—out of trouble with the IRS. 1. Know Your Numbers (Income & Expenses) You cannot effectively run a business—or plan for taxes—if you don't know where you stand financially. Mark’s first rule is simple: know your monthly...

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5 Dangerous IRS Myths Debunked by a Tax Attorney

https://www.youtube.com/shorts/h_b2aRduBfs There is perhaps no government agency surrounded by more misinformation than the Internal Revenue Service. Between misleading radio advertisements promising pennies-on-the-dollar settlements and advice from well-meaning friends, it’s easy for taxpayers to get the wrong idea about how the IRS operates. Believing these myths can lead to severe financial consequences. In this week's "5 on Fridays," Milton Law Group Managing Attorney Mark Milton cuts through the noise to debunk five of the most common - and dangerous - myths about dealing with the IRS. Myth #1: The "Fresh Start Initiative" Will Wipe Your Slate Clean You hear it constantly on radio and TV...

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Montana LLC Vehicle Registration: Risks & Tax Consequences

What Is the Montana LLC Vehicle Registration Loophole? For years, the so-called 'Montana LLC loophole' has been touted as a clever way to avoid paying hefty sales and personal property taxes on luxury vehicles, RVs, and exotic cars. The pitch sounds simple: form a limited liability company in Montana, a state with no sales and/or personal property tax, and register your vehicle under that entity. Suddenly, you've saved thousands, maybe tens of thousands, in sales and personal property tax. While this approach may appear to offer substantial tax savings, recent events highlight the serious legal risks involved. The WhistlinDiesel Arrest: A Wake-Up Call Earlier...

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Mark Milton and Shine Lin Recognized on Prestigious Missouri Lawyers Media POWER List

Milton Law Group is proud to announce that managing attorney Mark Milton and senior counsel Shine Lin have been named to the prestigious Missouri Lawyers Media POWER List of top tax and estate planning attorneys in Missouri. This esteemed recognition highlights their exceptional legal expertise and steadfast commitment to serving clients with complex tax and estate planning needs. The Missouri Lawyers Media POWER List is a definitive guide to the most influential and respected attorneys across various practice areas in the state. Unlike lists based on peer nominations, the POWER List is an editorial project. Its honorees are selected through a...

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How Does the One Big Beautiful Bill Impact You?

Recently, Congress passed a bill that introduces significant changes to the Tax Cuts and Jobs Act of 2017 (TCJA) and offers new tax breaks and planning opportunities. This new legislation, called The One Big Beautiful Bill Act (OBBBA), extends many of the 2017 TCJA tax cuts that were set to expire at the end of 2025. It also introduces a range of new tax provisions impacting individuals and businesses alike.  Key Highlights of OBBBA: Extension and Permanence  One of the central tenets of OBBBA is the extension and in some cases, permanence, of key provisions from the 2017 TCJA. This provides much-needed clarity...

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