Estate planning is crucial in securing your family’s future and managing your assets. More importantly, it involves more than just a will. Trusts are another core component of estate planning. They play a key role in managing your assets and providing your loved ones...
Bay Area Estate And Tax Planning Law Firm
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Income taxes: Common small-business deductions
If you run a small company, you may have the opportunity to lower your taxes. A careful analysis of your business can help determine the tax status of various expenditures. The goal is to understand what business expenses are deductible. Solid tax preparation begins...
California Sales Tax Collectors to Target Online Merchants
A new California sales tax law will require out-of-state online retailers to pay sales tax in California if they do substantial business with consumers in the state. Previously, Internet merchants were only required to collect California sales tax if they maintained a...
How family dynamics affect estate conflicts
An old joke is that wherever there's a will . . . there are greedy relatives. While there is indeed truth in that adage, that's by far not the sole dynamic at play in most estate battles.The truth is that each of the decedent's heirs and family members brings a...
IRS focusing on taxes allegedly due re offshore company accounts
Estate planning can entail special complexities and challenges in almost any given case. Some California residents know that to be especially true when a portion of family assets reside in one or more offshore accounts. In such a case, a prominent third party...
Why are so many Americans living abroad frustrated with the IRS?
Reportedly, about 70% of all Americans who live outside the United States have a problem with the country’s taxation scheme.Bottom line: They don’t think they should be required to pay taxes at all. There are approximately 9 million Americans residing...
IRS projecting compliance and a tough enforcement stance
A recent Forbes piece spotlighting the Internal Revenue Service notes news of recent years stressing a progressively weakened tax agency. The IRS is increasingly portrayed as a handcuffed agency featuring a steady reduction of agents/examiners, a decreased audit rate...
Disputing a will? Conflicts after a parent’s death? Work it out
When your mother passed away, you didn't think there would be any issues. You and your siblings, you thought, were all on the same page. You thought you'd all just be happy with whatever you inherited and that you'd be working together to get through this tough time...
Spotlighting tax duties re a special needs trust
Trusts are impressively flexible and creative estate planning instruments that provide varied benefits – including significant tax advantages – for their creators and beneficiaries.Many trusts readily illustrate that utility, including a special needs...
Tips on estate planning during the current pandemic
No California resident or individual residing elsewhere could even a brief few weeks ago remotely imagine the vastly aligned universe we now ilive n.Candidly, it's been turned upside down, hasn't it? It is understatement to note that we - virtually every one of us -...