BEST TAX RELIEF ATTORNEY

A quiet trend has been emerging as billionaires and other high net worth Angel Investors and Family Offices from Wall Street To Silicon Valley To the Middle East have been parking their money into Hollywood.

Larry Ellison Of Oracle, Paul Allen Of Microsoft, Steven Rales, Fred Smith of Federal Express, Norman Waitt, the Co-Founder of Gateway Computers, Jeff Skoll Of Ebay, Marc Turtletaub of The Money Store, Roger Marino Of EMC Corp, Sidney Kimmel Of Jones Apparel Group, Minnesota Twins owner Bill Pohlad; Real Estate Developers Tom Rosenberg and Bob Yari, and, financiers Sheikh Waleed Al Ibrahim and Philip Anschutz are all behind the finance of a lot of films that range from box office hits to Academy Award winners.

And the question remains “why?”

While the glamour of the movie business may be appealing to most, at the end of the day, it is still an unknown business that many try to gamble on, and only a handful come out as winners. The real key is to minimize risk, maximize profits, and offer a steadier stream of revenues than what other alternative investments may offer such as real estate, oil & gas, commodities, as well as risky hedge funds.

Well one Chicago/L.A. based media finance Company is taking a different approach in presenting its entertainment opportunities to the super rich as well as private equity groups. Instead of dazzling investors with smoke and mirror Monte Carlo simulation models that offer various IRR’s and scenarios based on unpredictable film revenues streams, it is offering an absolute return on investment using public tax incentives that in certain instances can guarantee 100% or more of invested capital prior to revenues.

Noci Pictures Entertainment is putting together a slate of films using an innovative hybrid public-private finance strategy aimed at investors who want to take a 100% Federal deduction against their ordinary income, get an additional 20-40% in state tax credits or cash rebates, have a hedge of revenues from 20-30 films, a possible exit IPO on the London AIM., as well as stimulating local economic development, and creating jobs, including for women and minorities. Oh, and the company’s team includes the former Vice Chairman Of A Major Film Studio.

Sound too good to be true?

“I don’t know of any other alternative investment that can offer tax incentives, multiple exit strategies, as well as giving back to the local economy, while being involved with the moviemaking process”, states Yuri Rutman, the head of Noci Pictures. “That would also add to the long line of recent film funds that have been structured with numerous hedge funds, private equity investors, corporate tax credit buyers, and institutions. Heck I don’t even know of any business that someone can start where they know they will receive an exact ROI before they see any profits”.

”I am also surprised how many investors, hedge funds, VC, tax planners, CPA’s, tax attorneys, public and private companies have no clue about these benefits”, Rutman adds. “Federal Preservation, New Markets Tax Credits, etc was the usual route for tax credit planning or alternative investments , but film production incentives offer a more liquid premium, equity, as well as little Hollywood adventure and schmoozing with movie stars.”

Rutman adds “Plus, I am reinventing ‘conscious’ film finance. A lot of competitor deals won’t be around in a few years because they didn’t do their homework. I want to be making movies when I am 90”.



By: yuri rutman

All About Law Firms

When you need to find a lawyer for a particular legal issue, you can always conduct your attorney search by looking through the Yellow Pages or on the Internet (or the online Yellow Pages for that matter). You can also consule a lawyer directory; the Bar Association in your state or province publishes such a directory every year. If you already have established a relationship with a lawyer who has little expertise in your particular issue, s/he may make a lawyer referral. Alternatively, you may wish to consider law firms, which are basically small (and sometimes large) corporations for which several lawyers in many different fields work.

One Stop Legal Shop

Unlike the lawyer who operates out of a store front in your town, those who work for large firms are salaried employees of that firm (known as associates) or may be partners who take a percentage of the profits. These organizations are common in many large cities, and some may maintain offices across the country and even overseas.

Typically, if an attorney search takes you to a law firm, you can expect to pay a lot more – but not necessarily. Law firms are more likely to take an injury case (known as a tort) on a contingency basis, meaning you won’t have to pay anything up front; the lawyer(s) involved receive a percentage of any award (typically around 30%). It’s a bit of a risk; if you lose your case, they’ll get nothing. If yours is a strong case however, they are usually willing to do this.

In many states, a law firm is required to contribute a certain amount of hours to pro bono work in order to keep its charter; this means there is no fee for their services. If you are involved in a criminal matter and cannot afford representation, you may wish to investigate this when doing your attorney search.

Find a Lawyer Who’s Right For Your Case

A typical legal firm will have lawyers working in the following areas:

• Criminal law

• Divorce and Family Law

• Traffic and DUI

• Torts (Personal Injury Law)

• Immigration

• Real Estate

• Business and Contract

• Wills and Estate Planning

• Tax Law

When you call such a firm, you’ll need to tell the receptionist the nature of your legal issue; an appropriate lawyer referral will be made. You may also consult the firm’s attorney directory ahead of time and request a particular individual.

Another Option

If you belong to a “legal club” or have a “legal plan” (which is similar to health insurance, except that these plans virtually always cover what it stated in the terms, and they do not “drop” people), you’ll be able to receive consultation from any number of law firms as part of your monthly dues (usually between $12 and $25 per month). It is one way to avoid many of the headaches of having to find a lawyer by sifting through an attorney directory. These clubs have at least one or two law firms in every state and province that can be accessed by members.

By: Jonathan Blocker

A tax CPA in Houston discusses various solutions that Attorneys and law firms can use. Law firms and solo practice attorneys are a specialty area of corporate and partnership tax. Law firms will typically operate on a cash basis of tax accounting, which means that they report income when they collect their fees from clients or resolution of a court proceeding. Fees are normally charged either on an hourly basis or on a contingency fee basis, although some firms also use a hybrid of hourly and contingency billing methods.

Corporate tax accounting for law firms requires skill in identifying when income becomes taxable. This can be a challenge due to the use of trust accounts for fees, and litigation settlements, as well as the requirement of court approval of fees in some matters.

Equally challenging can be the determination of what expense can be deducted during the case and when.

As a tax CPA in Houston who has worked with all types of law firms, solo practitioners, multi office large firms, and even practicing judges I know the ins and outs of law firm accounting. Here are 3 typical trouble spots we address:

Constructive receipt – your fees are subject to corporate tax when you can access them, even if you leave them on deposit in your law firm IOLTA account.

Advance expense payment - this is a huge issue for plaintiff attorneys working on contingency. Often a successful case means a huge corporate tax liability. We can moderate that liability by pre-paying law office expenses within certain IRS guidelines.

Employee benefit plans- corporate tax can be reduced by employee benefit plan expenses. This includes pensions, healthcare plans, tuition reimbursement, and others. But be careful! Corporate tax will not be reduced if you violate any of the anti discrimination rules, or affiliated group rules, the IRS places on benefit plans.

At Trippon & Company CPAs we use our 20+ years of experience in law firm corporate tax to minimize your Federal tax liability. Call us at 713-661-1040 and put our experience at work for you!

By: James Trippon

Thanks to the gay rights movement and the increase of both unmarried heterosexual and homosexual couples living together throughout Texas and the United States, the workplace trend toward domestic-partner benefits is improving the lives of many committed couples, regardless of sexual orientation or marital status.

As of March 1, 2006, only 49 percent of the Fortune 500, 78 percent of the Fortune 100 largest corporations, and a small percentage other, smaller businesses, organizations and educational and government entities offered health benefits to employees’ domestic partners, according to a recent study by the Human Rights Campaign Foundation.

And while it’s true that the number of companies involved is relatively small, there are some very large employers, such as the Big Three automakers, who have jumped on the bandwagon. The number of individuals affected also is limited, but the unmarried couple-count is on the rise and many unmarried households include children who could be important beneficiaries of domestic-partner health insurance.

If your employer or your partner’s employer offers domestic partner benefits, here are some things to consider before you sign up:

Follow the Rules

Most companies require that your significant other be 18 or older, not related to you by blood or married to someone else. You and your partner must live in the same permanent residence in an exclusive, emotionally committed, financially responsible relationship, similar to marriage. You may be required to show you share a lease or a mortgage, an insurance policy, utility bills, a joint checking account, etc.

The Taxing Situation

While the IRS allows the cost of health benefits for married spouses and dependents to be tax deductible, it hasn’t yet given the same rights to unmarried couples. So the amount of money that your employer pays for health insurance for an unmarried partner and any children will be included as taxable income on your W-2.

Insurers May Not Agree

While your company may be willing to pay for these benefits, not all health insurance companies whose plans are available to an employee may agree. Some insurers are concerned that domestic partner benefits will drive up costs. For example, it’s possible that the less-expensive HMO may raise objections, while the more expensive Preferred Provider Organization (PPO) or the traditional indemnity plan may not. If you have questions about your plan, talk to your human resources department or call the insurer directly.

Share the power

If you’re the partner holding the policy, it doesn’t necessarily mean you can make any health care decisions for your significant other if or when he/she is unable to make them. Married couples have much broader rights. A healthcare power of attorney can overcome what could be a big issue in an emergency. It has nothing to do with money. It simply allows the person you designate – in this case, your partner – to make medical decisions on your behalf if you are unable. It also can ensure that if you become ill, your partner will be able to visit while you’re in the hospital. The document, which should be prepared by an attorney, can also specify the names of physicians and limit the use of life-extending procedures. But it doesn’t have to be that complicated. Keep the completed document someplace, other than a safety deposit box, so it is accessible when you need it most.

It’s Over and You’re Moving On.

Most employer-sponsored group policies require that you inform the company immediately if your living situation changes. A recent federal court decision left open the possibility that COBRA could cover domestic partners. COBRA is the Consolidated Omnibus Budget Reconciliation Act – federal legislation that requires many businesses to keep former employees and their dependents on the group health plan for a limited period. COBRA regulations allow a divorcing spouse to keep the estranged spouse’s insurance for up to 18 months. The federal court decision said this didn’t specifically exclude domestic partners. But the likelihood an unmarried partner will be able to claim COBRA is slim. That means that the partner could be left without his or her own insurance with little or no notice.

With only 49 percent of Fortune 500 companies and an even smaller percentage of small businesses offering health benefits to employees’ domestic partners, this still leaves a large majority of unmarried couples with possibly one individual in the relationship uninsured.



By: Melih Oztalay

Taking on IRS tax debt is a daunting task that presents many confusing issues. The majority of taxpayers are aware of the option to pay their IRS tax debt in full or pay the tax debt in monthly payments or installments. But there is another option, the IRS “Offer in Compromise.” Knowing the steps to success with an IRS Offer in Compromise, also commonly called IRS tax settlement is important, because if your offer is approved you can save thousands of dollars! It can play a critical role in the financial future of any delinquent taxpayer, impacting not only the taxpayer individually, but the financial health and welfare of their family’s future.

Settling Your IRS Tax Debt: In a nutshell, an “Offer in Compromise” is an IRS tax settlement. If you qualify for an offer, you can have your IRS tax debt greatly reduced. However, it’s not easy to qualify for an offer. The IRS will weigh your entire financial situation. If the IRS determines you don’t have enough income to satisfy your debt in full, your offer may be approved. It is your job to prove you can’t pay your IRS tax debt in full, so make sure you do your IRS research thoroughly.

Insider Tip: It’s notoriously hard to have your IRS tax settlement approved, regardless of “how simply or straight forward it may sound.” But there is a secret way to crack the IRS’s code. The IRS has three ways of determining if you qualify for an Offer in Compromise/IRS tax settlement.

The Factors: The IRS may accept the offer based on any of the following:

> Doubt as to Collectability: If you know you cannot pay your IRS tax debt in full, you may qualify. Remember, if you have assets that could be sold to satisfy your debt these must be considered when you make your offer to the IRS.

> Doubt as to Liability: If you think the debt liability does not fall to you, you’re a good candidate for an offer in compromise. But your reasons must be legitimate. Here are three legitimate reasons listed on the official IRS website:

(1) the examiner made a mistake interpreting the law

(2) the examiner failed to consider the taxpayer’s evidence or

(3) the taxpayer has new evidence.

IRS Tax Specialists: Expert IRS tax advisors may give you the edge you need to get your IRS tax settlement approved. Even with some insider knowledge, getting your Offer in Compromise approved by the IRS is difficult to achieve. That’s where IRS tax specialists come in. Tax specialists employ or include Tax Attorneys and Enrolled Agents. IRS tax specialists are experienced in all tax debt issues and know exactly what you qualify for, and how to help you get your Offer approved. They can make the difference in achieving an accepted offer.

It’s Just The Start of Your Road to Recovery: Getting your offer in compromise approved is only the beginning of your road to recovery. When your tax debt settlement is approved you are entering a 5 year contract with the IRS. This “contract” means you have to file your taxes on time for five consecutive years. If you default on a payment or fail to file properly and timely, the IRS can charge you the original tax debt amount plus penalties and interest.

By: Mansi Gupta

Britons are now in more than £1,000,000,000,000 (one trillion pounds) worth of debt, w0hich equates to around £17,000 for each UK man, woman and child.

This debt is made up of outstanding mortgages, secured loans, personal loans, credit cards etc. This staggering figure indicates just how easy it is to take on debts, and how heavily consumers rely on credit in today’s markets.

For example, for the majority of UK adults wishing to own a home, taking out a mortgage is usually the only option. Around 12 million UK adults have an outstanding mortgage.

However, as credit plays a vital role in many consumers’ every day lives, allowing them access to things they would otherwise be unable to afford out right, it does have its place in today’s ever expanding market.

It is only when credit turns into escalating debt, and a person is unable to meet the required repayments that problems arise.

When in this situation, it is vital a person regains control over their finances as soon as possible to avoid further problems. Although simply ignoring the problem can seem like the easiest option, it is not the solution.

Some debts are considered “high-priority” debts, taking precedence over others. These are generally the debts secured against your home such as a mortgage or loan; local authorities’ council tax and utility companies’ debts are usually considered high priority, too. Failure to take the appropriate measures to repay these debts leads to the risk of being cut off, repossession, bankruptcy or even imprisonment.

“Non-priority” debts include personal loans, credit cards, store cards etc. Although you will still be expected to pay these, they are considered less of a priority than the “secured” and high priority debts set out above.

As debt has become more of a problem over the years, there are countless debt help companies and websites that have been set up to provide impartial help and relief, notable among these is The Debt Helpline.

The team of specialists at Debt Helpline are able to provide first class assistance to those suffering debt problems. Their experience and established links with lenders and their representatives has enabled them to offer a range of options to provide a tailored solution to each and every one of their customers, taking into account their desires, circumstances and other individual factors.

The Debt Helpline are able to guide customers through a number of common debt relief options such as:

IVA (Individual Voluntary Agreement)

Informal Agreement

Debt Management Plan

Consolidations Loans or Remortgage options

Also, information on bankruptcy and other practical self help methods

However hopeless your personal debt situation may seem, the experts at http://www.debthelpline.com/ will endeavour to help you rid yourself of troublesome debt.

By: Liam G

Any Tom, Dick and Harry who is not able to repay the debts cannot file for chapter 13 bankruptcy. Some of the eligibility criteria to file for chapter 13 are as follows :

• Any business even if it is sole proprietorship is not eligible for filing chapter 13 bankruptcy. Only the debts, that are linked to the business and that the owner is personally responsible for, can be included for filing chapter 13 bankruptcy.

• The personal bankruptcy of commodity brokers and stockbrokers cannot be included for filing chapter 13 bankruptcies.

• If the secured debts are more than $1,010,650, the debtor cannot file for chapter 13. Home loans and the filing of lien by the IRS are the examples of secured debts.

• If the unsecured debts are more than $336,900, the debtor cannot file for chapter 13. Some prominent examples of unsecured debts are medical bills, back utility bills, card debts, legal bills, and charges of the department store.

• To prove one’s eligibility for filing chapter 13 bankruptcies, one has to exhibit sufficient income after deducting some expenses and payments to service the secured debts, to do the necessary repayments.

• One must submit the proof of filing the state and federal income tax returns for a minimum duration of 4 years before the date of filing the bankruptcy. The filing of chapter 13 can be rejected if the applicant is not current on Income Tax Filings or has not submitted any proof of being regular at tax payment.

Do you fit in the above mentioned eligibility criteria? If yes than file for chapter 13 bankruptcy. The chapter 13 bankruptcy plan can be funded through the following sources of income:

• Income through self employment

• Benefits through social security

• Freelance commissions

• Benefits on account of Worker’s compensation

• Public benefits

• Alimony in case of divorce

• Royalties

• Regular salary or wages

• Pension payment

• Seasonal work wages

• Disability benefits

• Benefits due to unemployment and strike

• Child support benefits

• Rent

• Profits due to selling of property

• A working spouse could also be the source of funds

The best bankruptcy advice can be got from bankruptcy attorneys and bankruptcy lawyers. We take pride in having association with the top most experienced bankruptcy attorneys. The chapter 13 bankruptcy filing can include the personal bankruptcy. The credit card bankruptcy and the medical bankruptcy form the major part of the personal bankruptcy.



By: Judy Dixon

Have you found yourself repeatedly saying things like, “I really like the look of that new Prius model, particularly in blue.  If only the government would provide me an incentive, I would buy one tomorrow” or “I’ve been meaning to replace my refrigerator with one of those energy-saving alternatives. If I could get some kind of tax cut, the extra cost of buying all-new matching ice cube trays would be well worth it!”?  If so, then you may be in luck.

Our Texas Senate just passed a bill that would provide a $4000 rebate to consumers who choose to purchase a plug-in hybrid vehicle. This same incentive is being offered for large appliances as long as you agree to put your current one out of commission. This sweeping clean air bill also includes more stringent requirements when new plants are being built in heavily populated areas. Environmental regulators could make the decision that a company must first close an old plant in the same area or find a way to offset the new pollution that is being created. If this bill passes, you will likely find that businesses wishing to open plants in areas that are experiencing a pollution problem, such as Houston, will have a more difficult time getting the necessary permits to build.

Advocates of the legislation point to the fact that cleaner air is already evident in large cities due to previous actions taken by the state legislature, and these further measures will help to continue this improvement.

Changes to the clean air legislation in Texas undoubtedly will have an impact on many businesses in our state. If you are a business owner and have questions on what the decisions made in Austin will mean to you, we have Texas business law lawyers who are ready to help. Please contact one of our business law attorneys at the offices of Bertolino LLP in Austin, Houston, or San Antonio office today. http://www.belolaw.com

By: Tony R. Bertolino

As defined contextually in the United States, an attorney is someone who has the license as rendered by the state to provide advices to the clients when it comes to matters which concern the legality of things.

An attorney is likewise the very person who stands before the court on behalf of his client. Needless to say a New Jersey tax attorney is a legal professional who takes into his or her hands the stuff concerning the disputes over the tax. Tax problems cover property, inheritance, income taxes, and many others. In other countries, an attorney may be referred to by the names of solicitor, lawyer, advocate, barrister, and many others.

But then whatever their names are, attorneys play the same significant role. And that is to advise and represent their clients in terms of legal issues.

There are various situations when you would need the help of an attorney. If for instance you get involved in a car accident and then you have been found out to be under the influence of drugs or alcohol, then you will automatically be subjected to punishment. When you are caught red-handed for robbery, then you will need an attorney who will defend you at all costs. More so, if you failed to pay your due taxes for a couple of years and IRS is after you, you will certainly need the help of a tax attorney too. There are many situations which prompt the need for an attorney and one of which is the case which gets you involved in a tax fraud or tax evasion circumstance.

Issues on taxes can be thoroughly handled by New Jersey tax attorneys. You as an ordinary taxpayer may not be abreast of the exact laws governing back taxes or about the instances when you can reduce your penalties and have your tax dues minimized. A New Jersey tax attorney can do this well. One thing must be made clear, the attorney whom you should approach must go along with the situation you are in and the required specialization of the attorney. Attorneys specialize on civil aspects, personal injury, criminal cases, and many others.

When you get a notification from IRS, you should bear in mind that it is important to settle these stuffs at once. You surely do not wish to be convicted because of trying to evade your duties to the government. You fully understand what a New Jersey tax attorney can do to you. If you are concerned with your tax deductions, income, and expenses, then you must seek the help of a New Jersey tax attorney.

Being in New Jersey gives you a lot of options when it comes to getting in touch with a New Jersey tax attorney. You can get a directory and look for the most reputable person to get some legal aid and advice. You can likewise contact the existing New Jersey’s state bar association in order to get the New Jersey tax attorney who’s got the best references. New Jersey tax attorneys can also be spotted in the yellow pages of the directory and via the websites in the Internet. It is always good to get the opinion of other people and get references from friends and relatives who’ve got some New Jersey tax attorney services already.



By: Danial Holland

When you need help settling tax debt, there’s really only one choice – an experienced tax attorney that has proven the ability to obtain successful resolution through negotiations with the IRS. Many people turn to their local accountant to negotiate with the IRS and are surprised when the agreement is less than satisfactory. Being a successful tax negotiator is a developed skill that requires ongoing education and practice.

Talking Heads

There’s a modern day expression that refers to “talking heads.” These are people who talk a lot but don’t really say much. These can be people in meetings or television analysts. Talking heads may be educated and competent in their fields, but they lack the ability to convey useful information.

You can certainly hire a local talking head for help settling tax debt. But if you do, don’t be surprised at the results. The IRS is an interesting combination of fact and fiction. They use your tax returns as fact and then often interpret rules and regulations in their favor in a fictional manner.

It takes a lot more than a talking head to negotiate with the IRS. A negotiator must be able to present the facts in an indisputable manner. A tax representative must also be able to sway the IRS agent to make a decision in your favor. This is not easy and is not a job that just anyone is able to handle.

When you need help settling tax debt, the problem should not be left in the hands of someone without specific negotiating experience. The tax laws are very complicated and these complications filter down to the forms and calculation. A tax negotiator understands the system and is able to work with the IRS to come to agreement on how to settle your tax debt in a way that does not traumatize your financial life.

Serious Resolutions

One of the problems with talking heads is they often deal in generalities. When you need help settling tax debt, generalities won’t suffice. You need serious resolutions based on the current tax law and tax rules.

A tax negotiator is only able to be effective by keeping abreast of the changes to the rules. When someone attempts to negotiate with the IRS and makes it clear they are not familiar with the process, the IRS will naturally rule in a way that benefits the agency’s collections. What you really want is someone who will fight for you using knowledge and familiarity with the negotiation process.

In other words, you want someone who will make sure that any help settling tax debt you receive results in lower taxes, a reasonable settlement or a fair opportunity to pay off back taxes due.

By: William McConnaughy