WELCOME TO THE MILIKOWSKY TAX LAW BLOG

Providing actionable insights and valuable information to help you navigate the complexity of tax law for your business.

CORPORATE BUSINESS TAX

Determining the amount of taxes you owe depends on the type of business entity your corporation is. To avoid double taxation, or when both shareholders and the corporation pays taxes, the business chooses which kind of corporation it is…
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Case Study: EDD Audit Construction

When The California Employment Development Department, EDD did a site sweep, Ryan Brown found himself facing an audit.  As he did research on his own as to what the ramifications of an EDD audit might be, he saw steep fines, jail time and…
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8 Red Flags You May Be Headed for An IRS Audit

While there is no guaranteed escape from the potential of a randomized Internal Revenue Service (IRS) audit, there are a multitude of ways to attempt to avoid triggering one. Keep reading for 12 red flags IRS looks for when determining who to…
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CPAs: Why Your Client Needs a Tax Attorney

As a CPA you are an expert at advising your clients on tax optimization, business transactions, and all elements of their financial health and well-being. But, what do you do when your client is being audited?  If your client is being audited,…
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Top 13 Worst Celebrity Tax Cheats in History

Celebrities really are just like us. However, their missteps live under the spotlight of public scrutiny. Although they live in the public eye, they are just as responsible to live by the same rules and regulations the rest of us do. As Benjamin…
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SBA Audits Have Begun

Did you receive an SBA PPP loan? We have up to the minute details about SBA’s criminal investigations of businesses who applied for the PPP loan. A couple of months ago, we released a video confirming that SBA had started reviewing loan…
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EDD Freezing Thousands of Unemployment Debit Cards

Earlier this year, thousands of unemployment benefit recipients found themselves having had their EDD debit cards frozen. The Employment Development Department (EDD) began freezing unemployment debit cards due to suspected fraud in an attempt…
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What Trump’s Taxes Reveal About IRS Audits of Small to Mid Sized Businesses

Written for Milikowsky Tax Law. Originally published by freelegalaid.com on October 13, 2020.  Recent revelations of President Trump’s income tax payments have brought to light the capacity of wealthy individuals to fight the IRS when…
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How your PPP loan can create criminal exposure

In the midst of the Coronavirus pandemic, the CARES Act provided the funding for the SBA to implement the Paycheck Protection Program (PPP) to provide financial assistance to businesses. While many jumped at the opportunity to receive financial…
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Top 4 EDD Audit Triggers

California business owners are familiar with the ever-present threat of an EDD audit. EDD audits businesses for a variety of reasons. In some cases, they may have suspicions of a business using incorrect filing practices, in other cases, EDD…
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AB-5 Exemptions: Your Comprehensive Guide

California Assembly Bill 5 (AB5) has built-in exemptions for many businesses.  We say "Not So Fast"! Even exempted industries have to adhere to the old 13 point Borello criteria for classifying 1099 contractors.  So, while many business owners…
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Stop an EDD Audit of Your 1099s in its Tracks

How to navigate AB-5 Assembly Bill 5, which required companies to reclassify most independent contractors as employees, is hurting employees. California’s new AB-5 and Gig Workers Bill has employers concerned since it is unknown what EDD…