Before I started at Faucher Law, I was finishing up my MSA (master of science in accounting) at San Diego State University. When I used to tell people about my accounting background, they asked if I liked tax, and my answer was always NO! Now here I am, half a year later, switching my answer: I kind of love tax! Listed below are the most surprising things I have learned at my time at Faucher Law and how they have changed my perspective on tax and bankruptcy.
Sadly, the economic slowdown caused by Covid-19 is making many small business owners consider bankruptcy. Indeed, the Small Business Association estimates 40% of the US’s 30 million small businesses will fold within a year. Read more »
A client called me with a strange problem. He and his brother had inherited real property in Nevada. Because the brother was less than fully-functional, the client held his brother’s Read more »
I don’t like Wells Fargo Bank. Its abusive policies make it impossible to think well of it. I try not to do loan modifications for clients because all banks are reluctant to negotiate them. Banks are forced to do so by well-meaning statutes. Read more >>
Here is a very amusing and outraged report on “payday lenders” from John Oliver, the British reporter who apprenticed with Jon Stewart and Steven Colbert. He’s accurate in presenting the problem Read more >>
Most people know that they can’t claim losses incurred by a hobby – say, for instance, their side hobby of breeding and raising Great Pyrenees dogs. No profit motive, no deduction Read more >>
“Impossible,” you’re probably thinking. But it’s not. Here’s why. My client knew he had $200,000 in tax debt, only $30,000 of which was income tax debt; the remaining $170,000 was Read more »
I had an American client who lived in Europe – Luxembourg, of all places. He moved because his business ventures in the US were going bad. His wife was from Luxembourg, so the family moved close to his in-laws Read more >>
