What's New
In this section you will find discussions of and links to all the latest Tax Prophet
additions. What's New? The Tax Prophet has been completely redesigned, including this new
section, to help you find the information you want.
 Find the Latest FAQ's and Hot Topic Postings.
Visit the Tax Prophet's Trophy Case.
Try the Search
Engine
For a comprehensive listing of tax
and legal sites, gateways and directories, check out the recently updated Cybersurfing Page. Use it as a research tool to locate tax
and legal information on the Web.
TV Appearances - Video Clips - added 11/10/01
1. Power Lunch - CNBC - AMT/ISO Interview (3/19/01).
2. CNN - Tax Scams on the Web - Senate Finance Committee hearing
involving tax and trust scams on the web (4/5/01).
3. CNNfn - Tough Call - AMT/ISO Discussion - A debate regarding reforming the
AMT (7/5/01).
4. Tech TV - Corporate Tax Deductions for Non-Qualified Stock Options.
New Section Added May, 2003: Newsletters
Tax
Class New classes added: 10/31/02
Off-Shore
Asset Protection Schemes
Tax Publications:
Tax Consequences of Damages Received For Casualty Loss of Principal Residence
Trusts
with Appreciated Real Estate Should Consider Using an LLC as an Investment Entity
Estate Planning and
Taxation of NRA (British) Spouse
If you think you can avoid paying
income taxes by using a "Pure," "Pure Equity," or
"Constitutional" trust, check out the Tax Prophet's new Tax and Trust Scam Bulletin Board and save yourself a lot of
money and potential grief!
 April
5, 2001 -- Tax Prophet Testifies at Senate Finance Committee Hearing Regarding Tax
Fraud on the Web.
At a Congressional hearing covered by major new organizations, Robert Sommers was one
of five tax experts testifying before the U.S. Senate's Finance Committee. Mr.
Sommers spoke about the "pure trust" tax scam and how the web has increased the
number of con artists promoting it. Parts of his testimony appeared on CNN news and
in the New York Times.
Hot Topics:
October, 2004 - Limited Amnesty for California Taxpayers
Hot Topics:
September, 2004 - Basics of the Federal Estate Tax
Hot Topics:
August, 2004 -
- U.S. Virgin Islands Tax Credit Scam - part 2 of a 2-part series
Hot Topics:
July, 2004 -
- U.S. Virgin Islands Tax Credit Scam - part 1 of a 2-part series
 FAQ's:
July, 2004: Secondary Liability and Mortgage Foreclosure Joint Tenancy vs. Will Adjusted Basis of Gift Determining Gain on Sale of Residence Irrevocable Trust - Who is Taxed?
Hot Topics:
June, 2004 -
Taxation of Vacation Homes
FAQ's:
June, 2004:
Partnership Special Allocations Overseas Money Transfer Former Employee Exercising Stock Options Gift To Non-Citizen Spouse Holding Title as Community Property
Hot Topics:
May, 2004 -
New California's Franchise Tax Board Withholding Rules, part 2 of 2.
FAQ's:
May, 2004:
Lease Qualifies for Capital Gains Trust's Expenses for Beneficiary Gift of Inherited Property Dividends Received by Foreigner
Hot Topics:
April, 2004 -
New California's Franchise Tax Board Withholding Rules, part 1 of 2.
FAQ's:
April, 2004:
Part Residence Part Rental Loss on Residence Sale Personal Labor in Building a Residence Working Overseas
March, 2004 Special Memo - California Targets Derivium Loan Transaction as Abusive Tax Shelter
Hot Topics: March, 2004 - California's
Voluntary Compliance Initiative, part 2 of 2.
FAQ's: March, 2004 -
Expatriate with U.S. Rental Income Foreigner Receiving Dividends Foreign Gift
for Residence Purchase Gains and Losses in 401(k) Plan
Hot Topics: February, 2004 -
California's Voluntary Compliance Initiative, part 1 of 2
FAQ's:
February, 2004 - Partial
Residence Exclusion Property Sale by Foreigner Foreign Real Estate Purchase Employee
Stock Option Taxation
Hot Topics: January, 2004 - IRS Cracks Down on Attorneys Writing
Phony Tax Shelter Opinions
FAQ's:
January, 2004 -
Rental to Residence Conversion Sale of Corporation for Stock Choice of
Entity for Real Estate Transactions Sale of Residence - Owner not on Record Title U.S.
Residence with a Foreign National as Part-Owner.
Hot Topics: December, 2003 - Planning to Save (Taxes), part 2 of
2.
FAQ's:
December, 2003 - Independent
Contractor Status Internet Start-Up Taxpayer living Abroad Foreign-owned Patents
Hot Topics: November, 2003 - Planning to Save (Taxes), part 1 of
2.
FAQ's:
November, 2003 - Partial
Tax-Free Exchange Sale of Residence - Owner in Nursing Home Taxation of Foreign Owner of Real
Estate
NRA owns U.S. Corp
Other Recent FAQ's and Hot Topics
Hot Topics: October, 2003 - Tax Relief
for Military Families
FAQ's:
October, 2003 - Deductions When
Renting Your Residence Tax Filing for Residence Rental Taxation of Foreign Owner of Real Estate Taxation of
Lawsuit Damages Taxation of California-Source Income
Hot Topics: September, 2003 - Avoiding the Independent
Contractor vs. Employee Quagmire
FAQ's:
September, 2003 - Compensation
Paid in Company Stock Violating Residence Exclusion Rules Advisability of Off-Shore Asset
Protection Trusts
Hot Topics: August, 2003 - Corporate Inversions
FAQ's:
August, 2003 - Sale of Foreign
Residence
Worthless Employee Stock Choices for Internet Start-up
Hot Topics: July, 2003 - Tax Reform Act of 2003 -
Tax Planning Opportunities (Part 2 of 2)
FAQ's:
July, 2003 - Sale of Residential and Rental Units Second Home
at Work Location Reporting Rental Property when Filing Separate Returns Foreigner
with U.S.-Source Income
Hot Topics: June, 2003 - Tax Reform Act of 2003 -
Explanation (Part 1 of 2)
FAQ's: June, 2003 - Forced Residence Sale Foreign
Residence Sale Foreign Rental Property Stock Trades by Non-U.S. Taxpayers Sale by
Executor
 Newsletter:
June, 2003 - Jobs and Growth Tax Relief
Reconciliation Act of 2003
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