Chad Silver

Managing Partner of Silver Tax Group, author of the book "Stop the IRS". Practicing a variety of tax issues, regulations, laws and rights. Specializing exclusively on tax matters involving IRS audits, negotiation, settlements & compromises.

Outrageously Frivolous Tax Arguments

Completely Outrageous Tax Arguments

There are many types of tax fraud, most of them involving intentional failure to disclose income, inflating legal deductions, reporting personal expenses as business expenses, concealing assets, and mislabeling transactions. Here they are, in no particular order:

barter transactions

Barter Transactions and Their Tax Implications for Small Businesses

Do you or your business engage in bartering transactions? If so, there are a number of things you need to know when it comes to bartering transactions and taxes.  The International Reciprocal Trade Association estimates the recorded barter industry to be worth between $12-14 billion.  That is a lot of flow of value. As gains and losses …

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what is the employer mandate

Everything You Need to Know About Employer Shared Responsibility Enforcement

According to statistics, 45% of Americans are inadequately insured for health coverage. At the same time, research states that a quarter of Americans report having a pre-existing health condition.  To counteract this, the Affordable Care Act (ACA), put in place an employer mandate requiring employers to provide a minimum level of ACA-approved coverage. If you are …

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write-offs

The Essential Guide To Tax Write-Offs: Deducting Business Expense from Your Taxes

When it comes to business taxes, it can seem like a labyrinth of complicated terms and endless paperwork. It’s important that you get your taxes correct for the IRS, but it’s also important that you don’t end up paying more than you should.  While you’ll have heard of deductible expenses, you might be wondering, “how …

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how long to keep tax records

How Long Do You Need to Keep Business Tax Records in The Case of An IRS Audit?

In general, the three-year minimum should apply for most things but you may want to hang onto everything for seven years just to be safe. Being audited by the IRS is never a fun experience, but it can be even more painful if you don’t have access to the files and information they need. Whether …

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llc tax filing

Tips for Filing Taxes as an LLC Business Entity

According to the Tax Foundation, pass-through entities like Limited Liability Corporations and S-corporations are on the rise. Meanwhile, the growth of traditional C-corporations has stagnated, dropping to only 1.7 million in 2014 as compared to 7.4 million S-corporations and a whopping 23 million individual business owners.  There are clear benefits to LLC tax filing when April …

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california payroll taxes

Calculating Payroll Taxes in California (And 4 Types of Deductions)

Calculating California payroll taxes can be quite a task. It can be tough to ensure payroll taxes are accurately calculated. In the state of California, there’s a particular method used to ensure you analyze your taxes efficiently. Let’s take a look into it… How are California Payroll Taxes Calculated? Most people in California are paid …

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form 940

What is IRS Form 940?

The IRS form 940 is the federal unemployment tax return form. Businesses use this form to repay unemployment taxes to the IRS. If your organization hires employees, you have to pay unemployment taxes.  Unemployment taxes don’t have to be deducted from the employment taxes that your employees pay. However, you have to set aside the …

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