Plain-English briefings on business tax, IRS defense, and bankruptcy from North Star Law Firm, a Houston attorney-CPA practice. We break down what actually loses deductions, triggers penalties, and sinks reorganizations and how to protect yourself before the notice arrives. Episodes are narrated using AI-generated audio, edited and produced by North Star Law Firm. Free consultations and full written analyses with citations at htx-legal.net
California Nonprofit Insider Loans and the 200% IRS Tax
A California charity president signs a "loan" to his own LLC and nobody votes. A September 2026 Tax Court decision shows the insider owing more than $1.3 million in excise taxes on $590,000 he never returned, and California's self-dealing rules reach the same transfer and the other directors with it. How the 25% and 200% taxes work, how cash correction heads off the second tier, and what a board should do now. https://ca-legal.net/california-nonprofit-insider-loan-excess-benefit-5236-jagannath/
16 Oct 2026
Missed the 90-Day Tax Court Deadline in California? What Still Works After Kings Road
Missed the 90-day window to petition the U.S. Tax Court after an IRS notice went to an old address? Some circuits now forgive late petitions, but California taxpayers in the Ninth Circuit face the toughest rule in the country. This episode covers the Kings Road decision for partnerships, the collection due process route, and the separate Franchise Tax Board clocks. Full analysis: https://ca-legal.net/california-missed-90-day-tax-court-deadline-kings-road-ninth-circuit/
9 Oct 2026
Selling a California Business? What a Buyer’s $1 Purchase Agreement Can Cost You
A buyer's draft reciting one dollar and other consideration, a broad noncompete, and a sign-now-close-later timeline can cost a California seller the real price, the covenant, and a secured position if the buyer later files bankruptcy. How California courts read vague purchase agreements, when the noncompete exception applies, and the protections and tax planning to insist on before signing. https://ca-legal.net/california-business-sale-purchase-agreement-1-dollar-noncompete-section-365/
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