Written by Robert L. Sommers, a practicing San Francisco tax attorney with more than 29 years of experience. Robert Sommers has represented taxpayers in thousands of transactions, including audits, appeals and litigation against IRS and state tax authorities. Mr. Sommers specializes in income, gift and estate tax issues encountered by U.S. and foreign individuals and small companies.
CRYPTOCURRENCY INCOME TAX PLANNING: A Tax Brief
This Tax Brief focuses on U.S. federal income tax consequences of investing in cryptocurrencies on a regular or long-term basis. It is not intended for cryptocurrency miners or those holding cryptocurrencies for sale to customers. There are on-line sources describing how to calculate your gains and losses from cryptocurrency trades, but there is a lack of guidance on planning cryptocurrency investments to minimize taxes. This Tax Brief is written from the perspective of an experienced tax attorney and discusses successful tax-planning techniques he has developed through decades of research and experience.
Robert L. Sommers, an experienced tax attorney specializing in foreign tax issues, has produced a Tax Brief aimed at U.S. taxpayers who may have: foreign bank or brokerage accounts; foreign income or assets, or; received (or will receive) a foreign gift or inheritance.
Sommers lays out the filing and reporting requirements under the Internal Revenue Code and discusses the various disclosure initiatives available to taxpayers with unreported income, accounts, gifts or inheritances.
He provides an in-depth analysis of how to determine whether a taxpayer is “willful” in his/her failure to comply with U.S. tax law and the consequences thereof. The Tax Brief is a must read for every U.S. taxpayer is undisclosed foreign accounts or unreported foreign income, gifts or inheritances.
Pragmatic Asset Protection is a practical guide for individuals seeking to protect their assets from creditors. The methods discussed fall squarely within the U.S. legal system and do not involve hiding assets offshore or other transparently phony schemes.
This publication is the product of the author's extensive experience, including his work for the U.S. government as an expert witness on asset protection, and is especially helpful to those owning multiple real estate properties, professionals (doctors, attorneys, accountants, financial consultants, architects) and individuals engaging in activities that could give rise to large jury verdicts.
Robert Sommers defines the leading concepts and how creditors and courts view various aspects of an asset protection plan. He identifies the pitfalls and traps for the unwary and includes common-sense pointers on how to best protect your assets in our litigious society. Citations to case law and other legal precedents are contained in the reference section.
Independent Contractor vs. Employee Quagmire is a practical guide for companies and workers engaging in independent contractor relationships, as well as their tax professionals. A must-read for any company or worker who is contemplating a contractual relationship, taxpayers who are facing a federal or state or employment audit, and tax professionals.
If a company treats workers as independent contractors and the IRS or state authorities can successfully reclassifies these workers as employees, this could ruin a business and the personal finances of those involved.
This Action Guide is the product of the author’s extensive experience in representing taxpayers before the IRS and California’s EDD regarding independent contractor vs. employee controversies. Robert Sommers defines the leading concepts and how the IRS and the courts view various factors in the decision process. He points out the pitfalls and traps for the unwary and includes common-sense pointers on how to best protect the relationship from a later reclassification by the tax or labor authorities. Citations to case law and other legal precedents are contained in full in the reference section.
As a full-time practicing attorney in the heart of San Francisco’s Financial District, Robert Sommers owns and operates a law firm that specializes in general tax. He is an acknowledged expert in the field of tax law and has written hundreds of articles, columns, and action guides, and spoken at dozens of events.