RJS LAW - Tax & Estate Planning

Happy to support CEO and the work they do for San Diego. CEO not only finds jobs for people recently incarcerated to prevent recidivism but created the San Diego Homeless court that is truly revolutionary and being followed nationwide.

Living on the Edge – Life Without Creating a Will by Mia Theodorou Everyone dies eventually. You will die eventually. What is important is what you do with your time while you are alive. When I was touring law schools a professor told me he was married, had kids, and loved to drive his motorcycle up the coast of California. This seems like a pretty normal Southern California man, but then he told me he did not believe in wills. ~ He did not believe in wills? ~ What an odd thing for a law school professor to tell an aspiring law student. However, many people are living on the edge – a life without creating a will. Many will live their life just like this, maybe taking fewer risks, maybe taking more. People like to live on the edge. And many people, just like this man do not have a will. Maybe not because they do not believe in wills, but maybe because they do not want to face their own mortality or simply do not know they need a will. What will happen when that professor dies? Probably nothing… he will be dead. But his family will be left with a big mess, which is not something you typically want to leave your family. In fact, dying intestate (without a will) leaves your family with the hassle of hiring an attorney, going through probate, and wasting lots of time and money to get the assets you could have left them by having a will in place. Learn more (see comments) #creatingawill #estateplanning #wills

Congratulations to our Principal and CEO Ronson J. Shamoun for being recognized as a 2025 Super Lawyers Honoree and Devon Arabo as a Rising Stars Honoree. #SuperLawyers #RJSLAWFirm #Attorneys

Happy St. Patrick’s Day from RJS LAW! May the luck of the Irish shine upon you on this special day filled with celebration, tradition, and a bit of good fortune. At RJS LAW, we certainly revel in the good fortune of the community we work with every day. We want to take a moment to express our appreciation for our clients, colleagues, and the San Diego community. Just as St. Patrick’s Day reminds us of Ireland’s rich history and traditions, we take pride in our commitment to serving you with dedication and integrity. Whether you’re facing tax challenges, navigating financial complexities, or planning for the future, we’re here to help you every step of the way. At RJS LAW, we are proud to serve and support our clients with the dedication and care they deserve. Just like the Irish spirit of perseverance and strength, we remain committed to guiding you through life’s challenges with expertise and integrity. May your day be filled with joy, laughter, and prosperity along with a bit of luck from the Irish. Sláinte! Happy St. Patrick’s Day! ?? — The RJS LAW Team #StPatricksDay #HappyStPatricksDay #RJSLAWFirm

Retirement Planning Mistakes Can Be Costly by Joseph Cole, Esq., LL.M. Retirement accounts like 401(k)s and IRAs are useful retirement planning tools.?However, like any useful tool, they can be misused.?As a tax controversy firm, we see clients make mistakes with their 401(k) and IRA accounts such as incorrect rollovers and failing to take Required Minimum Distributions.?This blog will discuss ways to avoid retirement planning mistakes with rollovers, required minimum distributions, and other common pitfalls IRA and 401(k) holders encounter. The first mistake many people make with regards to retirement plans is simply not utilizing them.?If your employer offers a 401(k) with employer contributions, you are turning away free money.?Contributions to accounts like 401(k) and IRAs can be tax deductible leading to lower taxes in the present year.?Unlike a conventional savings account where you have to pay tax on interest every year, 401(k) and IRAs grow tax-free, and you only pay tax on distribution. Learn more on our blog (see comments) #retirement #retirementplanning #taxes

Personal Responsibility for CDTFA Sales Tax Liabilities by Joseph Cole, Esq., LL.M. Heavy is the head that wears the crown – even if the crown is not real.?Individuals can face personal responsibility or a dual determination for the CDTFA sales tax liabilities of a corporation or LLC.?Usually, the individual the CDTFA finds personally liable is the owner and/or officer of the corporation or LLC.?The recent Office of Tax Appeals (OTA) Appeal of Monzon case shows even someone who is neither an owner nor an officer of a corporation can be personally responsible for a corporation’s CDTFA sales tax debts. Learn more about the personal responsibility for CDTFA sales tax liabilities. The CDTFA can hold an individual personally responsible or issue a dual determination for a business’ sales tax debts if (1) the business is closed; (2) the business collected sales tax from its customers and failed to remit the tax; (3) the individual had responsibility for paying the taxes; and (4) the individually willfully failed to pay the tax.?The IRS and EDD can hold an individual personally liable for a business’ payroll tax under a similar test, except the business does not need to be closed for an individual to be personally liable for EDD or IRS payroll taxes.?The CDTFA often assesses owners of closed businesses with a dual determination because business owners are almost always responsible for paying the taxes of a business.?The Monzon case is unusual as the responsible person was not the owner of the business nor was, he an officer of the business. Learn more on our blog (see comments) #CDTFA #SalesTax #TaxLiabilities

The BIG GIVE is Coming Soon! Mark Your Calendars for April 9th and 10th (Online). The Big Give Bash is on April 8th. More Information & to RSVP: law.sandiego.edu/biggive25 #USDLaw #BigGive #BigGive25 #GiveBack University of San Diego School of Law | University of San Diego - Knauss School of Business | USD School of Law – Tax Law | University of San Diego

IRS Releases Dirty Dozen List of Tax Scams by Joseph Cole, Esq., LL.M. The IRS recently released its annual Dirty Dozen list of tax scams.?The Tax scams on the list include phishing scams,?ghost preparers, and bogus tax deductions.?One of the scams on the list is misleading social media advice. Social media is a source of information and disinformation.?It is not hard to come by some charlatan peddling bogus medical cures or some fake news story.?The field of tax is not immune from disinformation.?There are tax charlatans on social media spreading all sorts of disinformation about taxes and tax advice.?With this in mind, we would like to provide some helpful hints so you can discern fact from fiction. Learn more (see comments) #IRS #TaxScams #IRSNews

Update: Beneficial Ownership Information Reporting (BOIR) Suspension The Treasury Department Announced March 2, 2025 Suspension of Enforcement of Corporate Transparency Act Against U.S. Citizens and Domestic Reporting Companies. US Treasury Announcement (see comments) #BeneficialOwnershipInformationReporting #BOIR #LLC #Business

Congratulations to our amazing Principal & CEO Ronson J. Shamoun for being recognized as a Community Partner of the Year at the 113th?East County Honors Annual Awards Gala on Saturday, February 22nd. The San Diego Regional East County Chamber of Commerce celebrated the 113th anniversary of its annual East County Honors event at Sycuan Casino Resort. Since 1912, the Chamber has held the tradition of swearing in the new Chamber Board of Directors and recognizing outstanding businesses, organizations, and community leaders of East County. This year, the awards gala drew over 400 attendees from around the County to celebrate the entrepreneurial spirit and recognize the outstanding performance of local businesses and community leaders. Below is the list of recognized winners of the East County Honors Awards in their respective categories. #Awards #CommunityLeaders #CommunityPartners