Estate And Tax Planning Law Firm
Anyone who follows the trends and topics in tax law, as we do here, has probably heard a great deal about online sales tax in recent months. With the growth of major online retailers like Amazon, some small businesses have a hard time staying competitive. This is...
California's entertainment industry is no stranger to Sumner Redstone, who owns majority stakes in multiple TV production companies. Although Redstone recently made headlines, it's not for anything related to his involvement in the entertainment industry. In fact, the...
Every year the Small Business and Entrepreneurship Council releases a list that ranks each state based on the friendliness of its tax system to small businesses. This year, Texas was ranked number one and our very own California came in dead last.A state's tax system...
In our last post we talked about tax troubles faced by celebrities. Specifically, Wesley Snipes and MMA fighter Nick Diaz have both garnered headlines in recent years. Snipes was sentenced to three years in prison for failing to file returns in 2008. And Diaz...
Many people follow celebrity news to stay up-to-date on pop culture, gossip and the latest fashion trends. Some people consider the rich and famous to be role models for building a brand and running a business. But it doesn't stop there.As several recent cases...
The California Franchise Tax Board recently made a decision to retroactively collect taxes that the state's business owners and investors had been told they would not be expected to pay. It started 20 years ago when the state offered a capital gains tax incentive to...
Last week we talked about a few common income adjustments that California taxpayers can use. For example, unemployment compensation and some disability benefits are not taxable in the state, which can lead to an adjustment of your taxable income and help you keep more...
California income tax is a large part of your tax bill, as you have doubtless noticed if you have started your return. California income tax is calculated similarly to federal income tax, but with a few extra rules. In California, you are taxed on income from all...
Tax season is upon us, which means its time to gather your receipts, review your accounts and get to work on your annual return. It can be difficult to determine which deductions and credits you may qualify for, and those factors may seriously effect the outcome of...
The IRS recently released a report showing that they paid out a record $125 million to whistleblowers in 2012. The IRS whistleblower program is designed to reward those who report tax evasion or fraud with financial compensation. In 2006, Congress overhauled the...
