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Clarity

D. Mathew Blackburn

Greater Denver Area

The Law Office of D. Mathew Blackburn is a client focused firm that provides legal and tax advice in easy to understand terms. We advise business owners and individuals in tax and business law. Whether you’re an owner looking for someone that speaks the language of business, or you’ve received an IRS or state revenue agency notice that is full of dense technical language, we are here to help.

$7.50/min

47 Calls

17 Reviews

28 minutes
Avg. call

Tax Law Income Tax Tax Tax Preparation

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Business Law

Business law concepts in plain english.

Tax Law

I have extensive experience in all areas of U.S. tax law. I draft and file returns, argue with the IRS, and advise clients on how to minimize and delay realization and recognition of tax. I can explain the tax law in easy to understand terms.

IRS Tax Resolution

I can provide advice and options regarding settling or challenging IRS tax debt.

Answers 12
Reviews 17

Answers

D. Mathew Blackburn answered

What are the best practices in getting out of debt?

Chapter 7 Bankruptcy. Check your state's federal court website for exclusions (stuff you can keep).

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Creative Problem Solving

D. Mathew Blackburn answered

How can I find clients as a beginner in freelance web designing?

Network with people who do other things for people who need websites. Accountants, attorneys, bankers, etc... people who help people setup businesses or who know businesses that may need an update to their site.

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freelancing

Web development

Business Networking

D. Mathew Blackburn answered

What expenses can be deductible for non-profit volunteers?

You can deduct mileage for charitable purposes, currently .14 per mile (this rate can change annually), other travel expenses including meals, uniforms, and any other out of pocket expenses that are directly related to the non-profit. Keep in mind the non=profit has to be a charitable organization under IRS rules and these are itemized deductions, so you have to itemize to take advantage of them.

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Non-profits

Income Tax

D. Mathew Blackburn answered

Can I write it living space off as a business expense?

It depends on why you're going to IL. To be deductible the expense has to be ordinary and necessary to that trade or business. If there's a legitimate business reason then maybe, there are still limitations on how long you can live somewhere before it becomes your tax home. You're going to need to elevate this question to a tax attorney so you can go over it in detail.

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Small Business

Tax

Corporate Finance

D. Mathew Blackburn answered

How should I document my investment into a business for proof of transfer?

Documentation is going to vary depending on corporate structure and type of investment, but essentially it's going to be paperwork stating the date of the transfer, the amount, and what you received in return. Debt investment is different than equity.

Capital contributions (equity investment) and loans (debt investment) are not deductible until they are deemed uncollectible.

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Tax Preparation

CPA

Corporate Finance

D. Mathew Blackburn answered

What are the pros and cons of opening a personal bank account versus a business bank account?

This isn't really a pro-con situation. If you're running a business you need a business account. If a bank finds out you're running a business through a personal account they'll close it. You also take a huge risk on veil piercing if you have an entity and you risk reclassification in an audit.

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Tax Preparation

Business Development

Startups

D. Mathew Blackburn answered

How can I protect my Sharing Economy based startup from being fined for stepping on traditional businesses toes?

Not a canadian lawyer. You should go find a lawyer that knows these things, doesn't mean you can't keep your old one ut if he doesn't know then you need to seek out a specialist that does for that specific matter.

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Corporate Law

Legal Advice

Startup Law

D. Mathew Blackburn answered

What should be the top priorities for an entrepreneur when starting a company?

Determine market demand and viability of the business.

After that establishing proper structure for liability protection.

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Business planning

D. Mathew Blackburn answered

I'm a Canadian selling ecommerce products on Amazon (US only). Need info on cross border tax clarification & if it's time to incorporate (in US or CA)

Regarding US taxation of internet sales.
Since you are a foreign entity or person (in regard to the US), and there is an income tax treaty between Canada and the US, you will not be liable for US federal income tax on internet sales unless you have a “permanent establishment” in the US with which the internet sales income is effectively connected. So as long as you do not have a warehouse, physical store, sales office, etc... in the US you don't have to file US returns or remit tax to the US. Amazon should be charging to the customer and withholding any sales tax due to a state in which your products are sold. If you sell through other merchants or directly you may have to deal with this yourself.

Regarding incorporation
Incorporation is almost always a good idea from a liability standpoint as it prevents a judgement for damages from taking all your property and limits the collection to what is owned by the business, With the facts you have given I would suggest incorporating in Canada unless you have a business reason to establish a physical presence in the US. This will eliminate US taxes and related compliance costs. Once you establish a US presence you will need to begin filing returns in the US even if you are running a net operating loss. If there is no benefit to having a physical presence in the US then the related compliance costs and tax would be an unnecessary expense.

Feel free to setup a phone call if you would like to chat for a bit regarding the matter.

Thanks

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Incorporation

Tax

Income Tax

D. Mathew Blackburn answered

How do I know when my S-Corp has to pay taxes, and what do I need to fill out?

The return is due March 15 for the previous year. Your S-corp doesn't pay taxes, it files a form 1120S informational return. The 1120S produces a form k-1 that states your share of the companies income and other items. You report that k-1 on Schedule E of your Form 1040 in April. You have to file the 1120S every year whether you made money or not. Definitely find a professional, the 1120S is not easy to do.

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Tax

Corporate Finance

Tax Preparation

D. Mathew Blackburn answered

Can I include my time spent when calculating basis of a capital gain? (M&A)

Your time spent on the business is not deductible and does not add to your basis.

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Tax Law

Mergers & Acquisitions

Corporate Tax

Reviews

Was super knowledgable! I walked away having a much better idea of what is safe to do tax wise and how to save more every year!

Brian L Source: Clarity

Awesome call.

Lucas Ghosn, CPA Source: Clarity

Thank you very much.

Lucas Ghosn, CPA Source: Clarity

Great advice, I am happy I did the call :)

Charles Crawford Source: Clarity

Mathew was extremely helpful and explained everything in detail to us. We left the call feeling very well informed and he answered our questions thoroughly.

Dan Shure Source: Clarity

Great call, super knowledgeable.

Justin Michie Source: Clarity

Very helpful and productive call. Thanks!

Cody Smart Source: Clarity

This was my third call with Mr. Blackburn. He is INCREDIBLE: fast, prepared, smart as a whip, and a pleasure to talk to. I plan to hire him again.

Nick Gray Source: Clarity

Awesome

Tyler Moore Source: Clarity

Great

Tyler Moore Source: Clarity

Very helpful with a niche question about corporate tax exemptions.

Alice Li Source: Clarity

Member since October 2015