If you own a business in California, you know how much work it can be. You are in charge of everything from maintaining the premises, to payroll, to filing the taxes. While every detail that goes into running a business is important, making sure you are compliant when...
Month: July 2013
What to do if a trustee is not following the rules of a trust
If you are the beneficiary to a loved one's trust, there is no doubt that you want the trust to be handled appropriately. While most people choose a trustee to that they believe they can trust, sometimes the has ill intentions or simply does not understand how to be a...
IRS reviews Yankee Stadium parking bonds to ensure compliance
Finding out that you are being audited by the Internal Revenue Services is a frightening experience. Even if you think you've done everything correctly, tax laws are extremely complicated. It's easy to make a mistake unknowingly. However, the IRS is not infallible as...
Learning from James Gandolfini: How to avoid estate taxes
When you are working through the administration process of a loved one's estate, the last thing you want to have to worry about is estate taxes. Your loved one wanted his or her wealth to go straight to family members and loved ones, not to the California and federal...
California has highest capital gains tax
Determining one's capital gains tax can be simple for California residents, but it can also become complicated for certain kinds of assets. You need to have held on to an asset for at least a year or more or it will be categorized as a short-term capital gain and be...
IRS challenged by late billionaire’s estate
Billions of dollars are at stake in a recently filed petition which claims that the IRS overvalued certain assets that belonged to late billionaire and former NBA team owner Bill Davidson. The petition, filed on behalf of Davidson's estate, alleges that the deficiency...
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Even a fortune can disappear without sound estate planning
Some figures baffle.Like the speed of light. Like the age and size of the universe. And like estimates pegging the personal fortunes of America's richest families.Consider this imagery relevant to the storied Vanderbilt family for a moment: a pile of money equaling...
Broad, measured thinking out of the box promotes sound estate planning
"You own this." Those words might sound frightening to a would-be California estate planner, but they are actually meant to promote a feeling of empowerment rather than intimidation. It is no secret that legions of...
Remarrying couples unquestionably need to focus on estate planning
Many remarrying California individuals fail to timely consider and update existing estate plans to reflect new realities.Don't be one of them. Many remarrying California individuals fail to timely consider and update existing estate plans to reflect new...
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