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Why Rock Bands Are Wailing Against Tax Havens

Why Rock Bands Are Wailing Against Tax Havens

Wilco, Coldplay, Radiohead. What do these rock bands have in common? It’s more than just great music, it’s a passion for ending tax havens (sheltering money in a foreign country or independent area where taxes are low). Surprisingly, rock bands have a long and fascinating history when it comes to forging ahead into uncharted tax strategy territories. 

What Triggers a Tax Audit?

What Triggers a Tax Audit?
You may have heard that IRS audits of individuals have hit an 11-year low. This past year, the IRS has been auditing fewer than 1 in 100 individual taxpayers. But don’t allow those statistics to embolden you. Thousands of taxpayers still get audited each year. If you’re a high-earner, with $500,000 to $1 million earned annually, your chances of an audit jump to more than 4 percent. The picture changes again when it comes to business audits. Corporations tend to be audited more often (as much as 12 percent of large corporations).

Texas CPAs and Confidentiality

  • 28 June 2016
  • Author: Alexander Carr
  • Number of views: 1451
  • 0 Comments
Texas CPAs and Confidentiality

It’s a case that has business owners scratching their heads. Two former PwC accountants were recently on trial in Luxembourg accused of leaking corporate tax details to the press.  Are the accountants whistleblowers who should be praised or did they commit an unethical breach of confidentiality? Does the case hold any lessons to be learned for Texas small business owners?

10 Business Identify Theft Tips

10 Business Identify Theft Tips

Last year, Ars Technica reports, the IRS shut down an electronic tool for obtaining tax data after a massive fraud operation involving commercial data breaches managed to extract filing data for hundreds of thousands of taxpayers. This year, the IRS is facing a new wave of fraud, as criminals engage in a phishing campaign to obtain employees' W-2 form data.

Fake Rappers Exposed in Biggest Tax Fraud Bust in U.S. History

  • 14 June 2016
  • Author: Alexander Carr
  • Number of views: 1059
  • 0 Comments
Fake Rappers Exposed in Biggest Tax Fraud Bust in U.S. History
Tax fraud comes in many shapes and sizes. In fact, the IRS estimates that 17 percent of all taxpayers fail to comply with tax laws in one way or another. Cash-intensive businesses and service industry workers are the worst offenders. The IRS claims that waiters and waitresses underreport their cash tips by an average of 84 percent.

Hulk Hogan's Litigation Financing Lessons

Hulk Hogan's Litigation Financing Lessons

In April, we introduced the growing trend of third-party litigation financing to help offset the cost of litigation. Since then a specific case has catapulted the idea into the mainstream. The Wall Street Journal recently reported that Peter Thiel, founding investor in PayPal and Facebook, has provided about $10 million to support pro-wrestler Hulk Hogan in an invasion-of-privacy lawsuit against Gawker Media

Polunsky Beitel Green

Polunsky Beitel Green

When it comes to business success, longevity is a true virtue. No one knows that better than Allan Polunsky, the founder and managing partner of the law firm Polunsky Beitel Green, based in San Antonio and Dallas. 

3 Huge Family Business Structure Mistakes

3 Huge Family Business Structure Mistakes

Choosing the right business structure can be confusing. The correct structure may hinge on how many employees you have, the type of business you’re in and even how much money you make. These factors, as well as evolving tax laws, can change over time, leaving many family business owners with business structures that simply don’t suit them (for instance, a corporation that should be a partnership).


Taxes and Your Texas Ranch

Taxes and Your Texas Ranch

Do you own a farm or ranch or are you thinking of buying one? For many Texans, in particular, living the ranch life is an American Dream. But how do taxes come into play?

FINANCIAL RISE OF THE ELITE E-ATHLETE (PROFESSIONAL GAMERS)

FINANCIAL RISE OF THE ELITE E-ATHLETE (PROFESSIONAL GAMERS)

The internet has opened a world of possibilities when it comes to earning a living in interesting ways. Case in point: the e-athlete. These professional online gamers play video games…for a living. They make money as other professional athletes do: through competitions, endorsements and, basically, allowing others to watch them play (often, in this case, through YouTube and live streaming).

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