Should You Ever Refuse to Cooperate in a Criminal Tax Investigation?

No one wants to end up on the IRSs naughty list. But if you should find yourself under the microscopic lens of the IRS, you definitely want to have tax attorneys offering complete solutions to your tax problems on your side. An experienced attorney can help you navigate the tax system and help you decide if you can or should refuse to cooperate in a criminal tax investigation.

What is a Criminal Tax Investigation?

A criminal tax investigation is conducted by the IRS (Internal Revenue Service) to look into potential criminal violations of the Internal Revenue Code and other financial crimes. When a person or a business purposely decides that they are not going to abide by the taxation laws, there is the risk of facing a civil audit or criminal investigation. Both an audit and criminal investigation can end with prosecution, fines or jail time.

Why Are You Being Investigated by the IRS?

The American taxing system relies on voluntary compliance. This means that citizens bear the burden of self-assessments regarding their amount of owed taxes. All income, legally or illegally obtained, is taxable. Persons and businesses that are attempting to circumvent the tax laws and codes raise questions as to further unlawful activity. Some of the more common reasons you may get investigated include:

Can You Refuse to Cooperate in a Criminal Tax Investigation?

You can refuse to cooperate with an IRS investigation. When you or your business is under investigation, you will have multiple chances to choose to cooperate or not with the IRS special agent. The decision to cooperate or not should be taken lightly. Each can have serious consequences. Quite often the decision to cooperate can be synonymous with making a confession.

There are also levels of cooperation. You can fully cooperate, giving the special agent assigned to your case anything and everything they request of you. This is often done when there is not enough evidence against you or if there truly is no wrongdoing or misconduct. There is also selective cooperation, where you agree to cooperate to a certain degree; or only in certain aspects of the criminal investigation. If your attorney deems your case is not defensible, you may fully or selectively cooperate with the hope that you will receive a more lenient punishment or penalty in return.

Then there is the absolute refusal to cooperate. There are circumstances where it is best not to cooperate. This may be your choice is there is little to no advantage to your cooperation. It is important to be realistic and objective when deciding whether or not to cooperate. And the decision should almost always be decided after consulting with an experienced attorney.

Your cooperation with a special agent is not likely to make the investigation go away or keep you out of trouble, but it may change the way the investigation is conducted or the harshness of any assessed penalties or sentences. Choose wisely and carefully.

Improve Multifamily Property ROI with These Tips

Real estate investments are a good source of passive income. You can increase the return on investment with a few strategies specific for multifamily rental properties. These few tips can generate more passive income by putting your time and resources in the right places.

Manage Expectations

Property managers like Steven Taylor landlord have learned to manage the expectations of their tenants. Knowing the expectations of your target audience can help you address their concerns before they crop up. If you plan to rent to Baby Boomers, you need to make sure you have things they appreciate at your facility such as smart appliances and high-tech security. Millennials may want more focus on online payments and in-house laundry.

Personal Touch

Running a multifamily residence requires a personal touch. Focus on the services you offer to the residents to maintain their satisfaction with their living situation. Keeping the current residents happy with their current location means they tend to stay longer. When you don’t have high tenant turnover, you spend less time marketing and managing move-ins and move-outs. Satisfied tenants who feel appreciated are more likely to spread the word of their residence to others. Word of mouth advertising is the fastest and most effective marketing you can do.

Technology Use

There are many new technological applications that can help you interact with the residents. From online payment systems to forums specifically for residents, technology lets the residents interact with their community and with the management team. The online portal can have a list of frequently asked questions and a place to put in service orders. Services like this can appeal to young renters who are used to doing things from their electronic devices. Focus the technology on serving current and potential renters. A little personal touch combined with amenities and technology can help tenants feel appreciated and increase the return on the investments you’ve made in them and the building.

For the Sake of Convenience: What are the 5 Most Popular Types of Loans?

There are many varied reasons and circumstances where you might need to borrow some money and take out a loan and there is a range of different lending products available that are designed to meet your needs.

Knowing which loan to apply for and what type is the most suitable and appropriate is not always straightforward but it pays to get it right and it is important to understand what type of loan you are applying for.

Here is a look at the most popular types of loans and an overview of their key features and purpose, including details about secured lending, and all about signature loans, where no credit check is required.

Buying a home

Let’s start with the biggest loan you are ever likely to apply for in your lifetime, a mortgage.

A mortgage is a loan that is designed to help you buy your own home and it is designed to allow you to purchase a property where the purchase price is much higher than the amount of cash you have available.

It is a long-term loan that allows you to spread the cost of buying the property over a period of time. A typical mortgage will be from 15 to 30 years in duration and the amount you owe will decrease as you continue with your payments, which is a process known as amortization.

By the time you get to the end of your mortgage period, you will have repaid the loan and interest charges in full and you will have an asset in the form of a property that is, hopefully, worth more than you paid for it in the beginning.

You will be required to contribute a downpayment against the total you are paying for the property, typically about 20% of the purchase price, which provides equity in the property.

The loan is secured against the property and if you default on your payments you could lose your deposit and your home will be subject to foreclosure.

To get a mortgage, you will normally have to demonstrate that you have a regular source of income and a good credit record.

Personal loan

Your credit history is often highly relevant to the consumer loan products that you are eligible for and it is always a good idea to check what your credit score is before you apply for a loan, especially if you have a record of missed payments and defaults.

The higher your credit score, the more chance you have of being granted a loan and paying a lower interest rate against the amount you are borrowing.

However, it should be noted that personal loan products are extremely varied and you can even find loans that offer you the money more quickly than traditional banks without the need for a credit check, although the interest rate charged will reflect the risk to the lender of offering finance without a credit check.

You can apply for a personal loan to fulfil a wide variety of purposes, such as wanting to borrow money to carry out some home improvements, take a special vacation, or to consolidate your borrowings.

Personal loans can be unsecured, which means you don’t have to offer any asset as collateral as you do with a mortgage, or there are loan products that are secured against an asset. An auto loan, for example, uses the vehicle as collateral and it can be taken back from you if you don’t make the payments.

Buying a car

The main point about a personal loan is that you should work out your finances and decide that you can afford the repayments, then choose a product that suits your needs and circumstances.

An auto loan is a popular way to finance your motoring needs.

The typical term for an auto loan is between 24 to 60 months and it often depends on the age and value of the vehicle when it comes to how long you get to repay the money borrowed against the value of the car.

Cars depreciate in value and if it is being used as collateral there is a risk to the lender that it will be worth less than they are owed, hence the reason to restrict how long the loan period is.

A new car that is of a higher value can often be paid over 48 to 72 months, whereas an older car will normally require a shorter repayment period.

You should be mindful that if you default on an auto loan the lender can still pursue you for any money still owing on the loan even after they have seized the vehicle. This is another good reason for being sensible about how much you borrow and how long you take the loan out for, bearing in mind that cars drop in value as they get older.

Student loan

A number of us will have to consider the option of taking out a student loan to pay for the education we need in order to get the qualifications required to start a career.

Most students tend to take out federal student loans with a fixed interest rate and terms that means you don’t have to repay the debt until after you have graduated.

There are caps on federal loans and this could result in a shortfall in the amount required to complete your education. In these circumstances, you can apply for a personal loan, but you should note that the interest rate will be variable and, therefore, it could go up or down, which is something you need to be prepared for.

Credit cards

Finally, it is relevant to consider credit cards as a type of loan as you are being offered a line of credit which you can spend when and how you like, within reason.

The fundamental difference with credit card borrowing is that there is no fixed term for repayment and this could result in you accumulating a debt balance that takes longer to repay than a conventional loan repaid over a specific period.

If you need money for a specific purpose it pays to check out whether a personal loan could be a better option as interest rates on credit cards can be high.

Consumer loans are often flexible and convenient, and if you use them in the right way it can allow you to get on with your plans.

How to Financially Survive After an Accident

Becoming the victim of an accident begins a period of uncertainty for your health and financial stability. Your injuries can prevent you from returning to work for a short or extended period of time. Juggling the need to pay for shelter, food, and other incidental bills can be difficult as you figure out how to get compensation after an accident. Filing a lawsuit against the person who caused your injuries is one way to recover lost wages, but it takes time to reach a resolution either through a settlement or lawsuit. Meanwhile, the bills start to roll in, and they need to be paid. Here’s a look at potential options to pay bills.

Find Alternate Ways of Working

In the event you work in a field that has the option for remote work, look into it as soon as you’re able to. If you work in a field that requires physical effort, you may be able to work in an office position until you heal. Discuss your situation with human resources or the relevant person to learn about your options while you recover from your injuries. Employers are sometimes willing to accommodate their employees while they recover from their injuries.

In the event you can’t work remotely or in an office while you heal, there are work-at-home jobs and employers who offer remote positions that don’t require you to come into an office. It may not be an ideal solution, but it’s a way to make money until you’re capable of returning to your accustomed line of work.

Budget Money Closely

If you don’t budget, now is the time to do so. You don’t know when your money flow is going to return and you need to plan accordingly. Take a good look at your finances and figure out which bills are the most important. Focus the money you have available to keep up with those payments. Life may be uncomfortable during this time, and there won’t be money for extras, but it’s a temporary situation. Eventually, you will heal and be able to return to making an income again.

Check Your Health Insurance Policy for Coverage

Sometimes a health insurance policy will have coverage for injuries sustained in a car accident. You may be able to invoke the policy to help cover medical costs and reduce what’s owed. Health insurance won’t provide you with funds for living expenses, but it can reduce the pressure from demands for payment from medical providers. Be careful about going this route as the insurance company can invoke state statutes for reimbursement after a settlement has been reached.

Find out if You Pay Into an Accident Insurance Policy at Work

Sometimes employers offer accident insurance coverage for employees. If your employer offers it, you may have signed up when you first started your job, then subsequently forgot you were paying towards a policy. Accident insurance coverage gives you money to cover your bills if you get injured in an auto accident and typically provides enough to cover your costs of living while you heal.

Get a Letter of Protection

In order to get a letter of protection, you have to be actively engaged in a lawsuit against the party responsible for your injuries. A letter of protection is created by your lawyer and submitted to all relevant medical providers. The letter states that the balances owed for services will be paid from the final settlement amount. If the provider accepts the letter of protection, they will defer demands for payment until the lawsuit has finished and money is disbursed. It’s important to note that medical providers typically only accept a letter of protection issued by an attorney.

Apply for a Personal Loan

Personal loans are an option to help you pay bills, although it may not be ideal as it adds another bill to the already mounting pile of debts. However, it does take care of pressing needs and can help you get through the period between initiating a lawsuit and getting a settlement or judgment. Consider getting a loan as a means to an end and only use what you need instead of taking all the funds at once. Once your lawsuit is final, you can pay back the amount you have remaining and use the proceeds from the lawsuit to pay back what you used.

These types of loans are usually unsecured which means they have a higher rate of interest. The benefit of going this route is getting money to use sooner than later and being able to bridge the income gap until you heal or resume employment.

File for Bankruptcy

It’s best to keep in mind that filing for bankruptcy should be the last thing you consider as a way of handling your financial problems. Bankruptcy does eliminate most of your debts, but it can preclude you from suing for pain and suffering after an accident. A potential lawsuit over car accident injuries is considered a financial asset by the court even though the lawsuit has not commenced. It can affect the filing of the bankruptcy and prevent you from filing a lawsuit if you omit the suit from the bankruptcy petition. Save the idea of filing for bankruptcy for after all proceedings have completed.

There’s no denying that making ends meet after an accident is tough and has its challenges. Explore all of your options, talk to your employer about opportunities that are available to you while you’re injured, and look into alternative options for income. Remember that injuries heal and you will be able to return to work at some point which makes the situation a temporary one. What you might not consider when healthy can be a viable option for survival while you’re injured.

5 Expert Tips for Being Able to Manage Your Money More Effectively

Stress about money and finances afflicts many of us. Nearly 40% of Americans couldn’t pay an unforeseen $400 bill without going into credit or taking out a loan. With so many people struggling to make ends meet, learning how to effectively manage your money is more important than ever.

Unfortunately, there is no single formula that can be employed to make you financially stable. However, there are several tips that can put you on the road to managing your finances effectively and making your paycheck go as far as possible. Here are the 5 expert tips to help manage your money more effectively.

Make a Budget

The first step to becoming financially sustainable is to know how much money you are bringing in each month, and how much you are spending. If you are spending more than you are bringing in, then you need to make some changes.

A weekly budget will give you a clear idea on how much money you can spend on leisure activities each week and help you track your outgoings. By sticking to a budget, you can avoid going into debt and ensure you are putting enough aside to save for a long-term financial goal.

Establish Financial Goals

Everybody has long-term financial goals. These might be saving for a new car, a vacation, or to buy a property. Unless you clearly define these goals and set a timeline for achieving them, you will not be able to hit them.

As part of your budget, you should be setting aside a fixed amount of money to put towards your long-term goals. This should be set aside as soon as you receive your paycheck. It might help to open a savings account and set up automatic payments so that as soon as your paycheck clears the money set aside for saving leaves the account. This is an effective way to prioritize long-term financial security.

Establish a Passive Income

The rise of the internet has provided a wealth of passive income opportunities. From establishing a successful blog to drop shipping, affiliate marketing or becoming a social media influencer, the possibilities are endless.

For a list of passive income ideas that are really easy to do, click the link.

Axe Unnecessary Recurring Payments

One of the most common financial drains are recurring payments. Sure, when you signed onto the phone deal $40 a month didn’t seem like a lot. But 10 months later, you have paid $400 and the phone is no longer new.

Your recurring monthly payments should be the first things under the microscope when you are trying to get your finances in order. You should be asking yourself whether you really need that subscription; how many times you have used that membership; and how often you watch that streaming service. Anything that isn’t necessary should go.

Ask for Advice

Asking for financial advice is something few people do. However, as you become more financially stable, a financial planner can help you maximize your investments, boost your savings and help you hit those long-term financial goals.

You don’t have to use a costly financial advisory service. Many community groups offer free, independent financial advisory workshops and family members who are responsible with money are an underutilized source of free financial advice. Don’t be afraid to reach out when you are in need of assistance.

Profitability Factor for New Products and Services

Entrepreneurs should develop a profitable plan for providing a new product or service, such as for earning income from a reliable group of customers. The customers should have a preference for the product or service or should have a practical purpose for using the product or service. Many customers would probably enjoy the luxury of eating a new gourmet pizza and would probably also benefit from using a new soap.

Specific Level of Income for Potential Customers

The level of income for the customers can be used to evaluate the level of potential profits that could be earned from the product or service. Some business owners decide to earn profits by focusing on the middle-income customers in a city. The property managers at Dallas Luxury Realty only offer services for managing rental property that is for middle-income tenants and only want to participate in a small business market for the Dallas property management companies.

Customers for a New Product or Service

Several factors can influence the decision for providing a new product or service for some customers. A small business owner could decide to make some homemade soft soaps, such as with liquid Castile soap and some grapefruit-scented or clove-scented oil, but there may not be several customers who would want to buy the soft soaps. The business owner would probably earn a low level of profits from a small group of customers for the uniquely-scented soft soaps.

Decisions about Providing a New Product or Service

Small business owners should evaluate the preferences of the local customers and should also evaluate any problems from a lack of products or services in an area, such as services from personal shoppers for busy customers. The decision about offering a new product or service should also be based on the skills of the small business owner. Some entrepreneurs are required to rely on a partner, such as a chef, who has the skills for providing the product or service, such as for preparing gourmet foods for events.

Decisions about New Small Businesses for Entrepreneurs

An entrepreneur could develop a practical business concept into a new product or service for some small business owners, such as developing a new tool caddy or organizing a professional network for plumbers, electricians and HVAC technicians. The plumbers, electricians and HVAC technicians would be exposed to more business opportunities as members in a new professional organization. With an innovative concept for a new product or service, an entrepreneur could expand a small business operation with franchise contracts for offering the products or services in several cities.

Covering Your Bases: Do You Know the Difference Between These Three Types of Landlord Insurance?

Every landlord works to make a profit. They typically don’t purchase a building for use by others unless they can generate income from the property or obtain a tax write-off. However, the property needs to be protected at all times so the landlord doesn’t take an unintentional loss. Fortunately, a person may purchase landlord insurance to receive this protection. There are three types of landlord insurance every person in this position should consider obtaining.

Liability Insurance

A landlord may lose a great deal of money fighting lawsuits filed by tenants whether or not the claims have any basis in fact. If any person is injured on the property, for example, the injured person may file suit against the landlord and claim this individual was negligent when it came to maintaining the property. The same is true if a tenant’s property is damaged in any way due to the negligence of the landlord.

Liability insurance steps in to cover any legal fees incurred by the landlord, court costs, damages that must be paid to the tenant if they win the suit, and more. While this type of insurance isn’t mandated by law, it is recommended every landlord have a liability policy in place to protect themselves from the high costs of legal actions. Those interested in obtaining this type of coverage can see more at

Property Insurance

Landlord property insurance is different in that it actually covers the structure located on the property. Imagine having a fire and the structure is completely destroyed. The landlord is responsible for rebuilding the property and must pay out of pocket to do so if no property insurance has been obtained. Tornadoes, hurricanes, and other natural disasters are typically covered under this portion of an insurance policy as well.

Additional coverage may be needed to cover other structures located on the property, such as a detached garage, shed, or other outbuildings. However, be aware that flood insurance may need to be purchased separately. It’s best to speak to a licensed insurance agent to determine what coverage is needed and in what amounts. Know the estimated replacement value of any buildings to be covered before shopping for this type of policy, as the agent will need this information to provide an accurate quote.

Additional Coverage

Landlords often spend their own money to make a property nice for tenants. For instance, a landlord may choose to install new carpeting right before a new tenant moves in. If something happens to the carpet, the landlord must then take money out of their own pocket to replace or fix it and then possibly sue the tenant to recoup the costs. Another option is to purchase additional coverage that will pay for these types of expenses so the landlord doesn’t have to. It’s an option every landlord should consider, weighing the benefits and costs of the coverage to determine if they feel it is necessary.

Landlords may also choose to include a clause in the rental agreement requiring tenants to obtain renter’s insurance. This type of policy covers any belongings on the tenant if they are damaged in a fire, natural disaster, or another occurrence. Again, speak to an agent to determine if this type of policy will be needed and when it should be obtained. The landlord needs to be protected at all times, and the right insurance coverage ensures they are.


How to Buy, Sell or Exchange Dogecoin (DOGE) at CoinSwitch

Are you a Dogecoin fan? Here is a beginner’s guide for all crypto enthusiasts interested to sell, buy or exchange Dogecoin on CoinSwitch.

First things first, what is Dogecoin?

Created by Billy Markus as a joke coin in 2013, Dogecoin was named after the Japanese Shibu dog which was a big meme then. Like Bitcoin, Doge was supposed to have a fixed supply of 100 billion coins but later it was decided that there would be limitless supply. There is a very strong community behind Dogecoin and they undertake a lot of charity and fundraising work. Twitter and Reddit use Doge to tip content creators.

How to buy Dogecoin on CoinSwitch

Before you even go on to CoinSwitch’s website, here are a couple things you should cross your bucket list.

  1. Have a dogecoin wallet: The best options are Ledger Nano S and Trezor for hardware but it is an investment. You can try free software wallets but understand the risks of having an online wallet before you make up your mind.
  2. Find your Doge wallet address: Once you buy Doge, you will need this to send the money to your wallet. The Doge address is a string of letters and numbers that starts with D.

The actual buying process is a little bit tricky. Since CoinSwitch does not allow you to buy Doge coin directly, you will have to buy Bitcoin first. There are other major coins like ETH and BCH that you can also buy.

Then you can perform a BTC to Doge exchange and store Doge in your wallet.

To do this, follow these steps:

  1. Choose the Buy with Credit Card option on the homepage. You can use your MasterCard or Visa credit card to make the purchase.
  2. Enter your BTC address
  3. Complete the transaction.
  4. Use the exchange on the site to convert BTC to Doge at the best exchange rates.
  5. Send Doge to your address.

If you would like to keep the BTC you buy on CoinSwitch instead of sending it your wallet, you will have to create an account on CoinSwitch.

How to sell Doge on CoinSwitch

Use the “Sell” option in your account to sell your Doge coins. You can integrate your Doge wallet with CoinSwitch. Most wallets can be easily integrated with CoinSwitch. Just check CoinSwitch’s recommended list of wallets that they have integration with and choose one from that list.

How to exchange Dogecoin (Doge) on CoinSwitch

Let’s say you want to perform a Doge to BTC exchange.

Check the exchange rate on the homepage. This is the best rate by default, Click on ‘View All Offers’ to see all possible rates. Some rates may fluctuate and some are locked in for the next 5 minutes.

You do not require to login to CoinSwitch for this so you maintain your privacy pretty easily. Once you enter your BTC wallet address, the transaction will begin processing.

P.S. – You can even scan your wallet address instead of typing it in.

The transaction typically takes minutes unless it’s a sizeable transaction.

Why CoinSwitch is the only Doge exchange you will ever need

Not many exchanges that support Doge so it is very difficult to find a reliable one. That is why CoinSwitch is the best. The world’s largest aggregator of all the exchanges in the world, CoinSwitch has no hidden fees, minimal trading and withdrawal fees.