OUR PRACTICE AREAS

Estate planning is a constantly evolving process for individuals.  At every age, a person must evaluate his or her net worth, family needs, and planning objectives to develop a sound and tax efficient approach for distribution of assets.

Once the business is formed, Hoffman & Associates helps growing businesses continue operations through tax planning, employment law matters, securities laws, business acquisitions, mergers, reorganizations, liquidations, and maintenance of corporate records.

We can prepare and file of all types of tax returns, including gift tax returns, trust returns, partnership returns, corporate returns and individual returns.

WHO WE ARE

At Hoffman & Associates, clients are the single most important asset to our firm.  We are committed to providing high-quality service and delivering the best value while compassionately understanding goals and desires.

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NEWS & UPDATES

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IRS Tax Court Memo 2017-099: Katrina E. Taylor and Avery Taylor v. Commissioner

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The following Tax Court Memorandum decision underscores the importance of substantiating auto and travel expenses. The court noted that in Rogers v. Commissioner, T.C. Memo. 2014-141, 108 T.C.M. (CCH) 39, 43. "Section 274(d) imposes relatively strict substantiation requirements for deductions claimed for (among other things) “listed property.” Under section 280F(d)(4) listed property includes any “passenger automobile.” No deduction is allowed under section 274(d) unless the taxpayer substantiates, by adequate records or by sufficient evidence corroborating her own statements, the amount, time and place, and business purpose for each expenditure. Sec. 1.274-5T(a), Sec. 1.274-5T(b), and Sec. 1.274-5T(c)."

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IRS TaxCourt Memo 2017-100: Carolyn F. Whitsett v. Commissioner

wins-imageIn the case of Carolyn F. Whitsett v. Commissioner, Tax Court Memo 2017-100, the United States Tax Court found that the taxpayer, Carolyn F. Whitsett, relied in good faith on her accountant and was not liable for negligence related penalties when her CPA reported capital gain due to a stock redemption in the wrong tax year and failed to file a return. (see memorandum below) If the IRS has assessed a penalty against you and you would like help finding out if it may be abated, please give us a call at 404-255-7400 or email us at info@hoffmanestatelaw.com.

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OUR TEAM WILL ASSIST YOU IN ESTATE PLANNING, BUSINESS AND TAX NEEDS.

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