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Maybe you advertise online and periodically use your truck as a moving van for residents in your locale who are relocating.Perhaps you live in a city replete with sports teams and use the Internet to help you snag renters during tournaments and other high-profile...
A recent media article focusing upon the legendary and recently deceased pop entertainer Prince refers to the "Prince Syndrome."Given what seems readily known about the artist, many of our readers might reasonably venture a few educated guesses as to what that...
Most Americans well note the investigatory power and enforcement clout of the Internal Revenue Service. Indeed, many millions of people go into heightened-stress mode whenever they think of the IRS.And, interestingly, that includes legions of filers in California and...
In short yes. In January 2016 a new law was enacted that allows the Internal Revenue Service (IRS) to rescind your passport if you owe more than $50,000 in taxes.This number may seem like a lot of money until you take into account penalties and interest. This IRS tax...
Although a commentator in a recent media article on IRS whistleblowing calls a United States Tax Court ruling "good news," that sentiment is certainly not universally shared.And it's especially not endorsed if you're an individual or business enterprise that suddenly...
OK, a suitable preface to today's blog post is certainly an up-and-front disclaimer that its subject matter is not exactly egalitarian.That is, what follows is not going to readily apply to most readers of this or any other tax blog. Nonetheless, we believe that the...
In the immediate aftermath of a prolonged and particularly acrimonious divorce, it's not uncommon for people to vow that they will never remarry, as they simply wouldn't want to put themselves or their children at risk of having to endure the experience all over...
It is certainly no secret that the Internal Revenue Service has had a sharp and unwavering spotlight on American taxpayers with foreign assets and accounts over the past few years.Media stories have been replete with tales featuring the acronyms FBAR and FATCA, and...
How much can I give and not pay taxes?For year 2015 California residents may give up to $5.43 million in inheritance money without having to pay taxes on it. If your estate exceeds that amount the estate tax rate is 40 percent. Does this amount change?You...
Probate is a term readers have probably heard at some point. The term refers primarily to the process of establishing the validity of a will, but also refers to the process of administering the will. Probate defaults as a court-supervised process that involves...
When implementing an estate plan in California, it is essential to ensure that you receive the proper compensation for the amount of time and work you are putting in. The probate court will look through the amount you charge to see if it is reasonable, especially if...
California families have an exemption for their estate that keeps it from being subject to income taxes. However, above that $11.7 million, the estate tax bill could get large. This is why they need to take measures to reduce the size of their taxable estate. Life...
Not every inheritance involves paying estate taxes, but some estates rise above the federal exclusion amount. California residents that feel familiar with state and federal tax rules might not realize changes could happen. Namely, proposals intended to raise tax...
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