Like many businesses law firms face unique tax challenges. In this course tax attorney Kevan P. McLaughlin details numerous tax issues that attorneys must account for when running a law firm.
The main issues discussed by Mr. McLaughlin include the attorney-client privilege, record keeping requirements, income, expenses, worker classification and information reporting requirements. Specific topics and tax sections covered include IRC §7525, IRC §6001, Treas. Reg. §1.6001-1, the implication of record-keeping for tax concerns, IRC §446(b), Cohan v. Commissioner, IRC §274(d), unreported income, deferral of income, constructive receipt, non-cash sources, cash payments, IRC §162, entertainment & promotion expenses, travel expenses, advanced client costs, net & gross fee arrangements, employees & independent contractors, Rev. Rul. 87-41, Section 530, Form 1099 - IRC §6041, Form 8300 - IRC §6050I and the steps to take when you are audited.
As the founder of McLaughlin Legal, Kevan P. McLaughlin focuses his practice on all aspects of Federal and California tax law, with a special emphasis on representing taxpayers in civil and criminal tax litigation and controversy cases. In 2010 Kevan was recognized by the San Diego Daily Transcript’s annual peer nomination program as one of only a handful of top young attorneys throughout San Diego County. The San Diego Metropolitan Magazine listed him as one of San Diego’s 75 leading attorneys in 2011. Since 2010 Kevan has also held a leadership position within the San Diego Chapter of the Young Tax Lawyers of the California State Bar Tax Section.
Practice Areas: Business Law | Taxation
State Accreditations: California (CA)