Fall is here, which means it’s time to start thinking about year-end tax consequences, including capital gains taxes. Of course, you would never want to buy or sell investments based on tax outcomes alone, but it’s still a good idea to understand the tax...
Bay Area Estate And Tax Planning Law Firm
Month: September 2015
Sell your home in 2015? You may owe capital gains taxes
It’s no secret that the housing market in many parts of California and the rest of the country has favored sellers. That means after sitting tight through the housing market crash, many people who sold their homes this year brought in a nice little profit.But...
IRS alleges Coca-Cola owes billions – Coke vows to defend itself
When you picture an IRS audit, you probably imagine a giant government agency going after the "little guy:" An average American who just wants to live and work in peace. Sadly, many everyday Americans do get audited by the IRS, especially those trying to run a small...
Know your rights regarding IRS interactions: Part II
Earlier this week, we began a discussion about your rights when dealing with the Internal Revenue Service. Many Americans think of the IRS as a bully who can shake you down for money, but this isn't the case.The IRS even posts a Taxpayer Bill of Rights on its website....
Know your rights regarding IRS interactions: Part I
The Internal Revenue Service is perhaps the most maligned of all government agencies. While some of this comes with the territory (people don't like paying taxes), the IRS has also earned much of its bad reputation. Many people view the agency as bureaucratic,...
The three biggest reasons to set up a revocable living trust
Revocable living trusts aren’t for everyone, but they are an important part of most high-quality estate plans. Here are the main reasons revocable living trusts (RLTs) are used, according to a recent article from Entrepreneur:To avoid probate. Probate is the...
The benefits of hiring an attorney who is also a CPA
Before we get into the benefits of hiring an attorney who is also a CPA, let’s discuss the main difference between the two. While an attorney specializes in the laws surrounding business transactions, taxes and estate planning, CPAs specialize in the financial...