Category Archives: Tax Law
California Property of Deceased Overseas Owner Affected by Probate Code of Foreign Country
As a melting-pot state with many ties to Asia and Latin America, it is a fairly common for property in California to be owned by a foreign company or individual. If a deceased citizen of another country owned property in … Continue reading
Posted in Estate Planning, Overseas Assets, Probate, Trusts & Estates
Tagged avoiding probate, California Probate Code, Community Property, declaration of death, Estate Planning, intestate estate, Intestate Succession Act, Living Trust, Probate Code, Probate Code France, Probate Code India, Probate Code Indiana, Probate Code Italy, Probate Code Singapore, Probate Code Taiwan, probate laws, spousal petition, surviving spouse, time of death
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Real Estate Property Transfers In California: Reasons, Methods and Issues
Even though the number of home sales has diminished in recent years, many people are still transferring real estate property for a variety of reasons. The most common type of property transfer is for a parent who transfers the title … Continue reading
Posted in California Real Estate Law, Estate Tax, Gift Tax, Residential Real Estate, Tax Law, Uncategorized
Tagged Asset Protection, community property state, fair market value, Fannie Mae, Joint Tenancy, Living Trust, medical benefits, Probate, probate court, property agreement, property tax assessment, property title, Property Transfer, reduce taxes, refinancing a home, right of survivorship, Spousal petitions, Tenancy in Common, underwater property, unmarried couples, verbal agreement
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Tax Planning for Next Year; Digital Assets; Loan Modification & Deed-in-Lieu Programs; Trusts & Trustees
As the dust of this year’s tax season settles, our thoughts have already started to drift toward preparing next year’s returns. It is never too early to consider how to pay less taxes (or to be better prepared for next … Continue reading
Posted in Asset Protection, Filing Your Tax Return, Loan Modification, Tax Return Preparation
Tagged Android, Apple, back taxes, back-up system, beneficiaries, benefit deductions, borrower, call-in show, Deed-in-Lieu, digital files, distressed properties, estate plan, file tax returns electronically, fireproof container, foreclosure, HAFA, Home Affordable Foreclosure Alternatives, IRS audit, IRS2Go, lender, liens, Living Trust, loan modifications, maximize deductions, minimize taxes, mobile device, paper receipts, pay less taxes, paycheck stubs, payroll deductions, podcast, probate minimum, professional relationship, receipts, record-keeping, Scan, short sale, social site account, status of your refund, tax deductions, Tax Preparer, tax professional, tax refund, transfer real estate, Trustees, underwater real estate
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Do You Need a Tax Attorney When You are Audited by IRS or When You Start a New Business?
Now that the season to file tax returns has ended, many people may become concerned about whether some aspect of their return might draw the attention of the Internal Revenue Service (IRS) and lead to an audit. This leads to … Continue reading
Posted in Business Law, Corporate Taxes, Family Law, Filing Your Tax Return, Partnerships, Personal Attorney, Radio Show: Wealth Preservation and You, Starting a New Business, Tax Law
Tagged accountant, allowable deductions, audit, Audited, audited by the IRS, back taxes, business, business revenue, corporate structure, cost/benefit analysis, dissolution, economy, examination letter, Family Business, family dynamics, Field Audit, government, health care professional, Internal Revenue Service, IRS, irs agent, irs audits, licensed professionals, Medical professional, Office Audit, partnership, politics, risks and liabilities, Schedule C, software program, Start New Business, tax attorney, tax return, Turbo Tax
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Gifts For Your Children: Selling or Transferring Property To Your Kids (Plus a Few Tax-Time Tips)
At this time of the year, we feel compelled to remind our followers of a couple of tax-time tips, all of which we have discussed several times in recent months: Recent changes to the law have forced financial institutions that … Continue reading
Posted in Estate Planning, Estate Tax, Gift Tax, Radio Show: Wealth Preservation and You, Residential Real Estate, Tax Law, Trusts & Estates
Tagged Brokerage Accounts, estate plan, Estate Tax, fair market value, inheritance, inheritance tax, irs office, licensed real estate broker, Offshore Assets, real estate, tax time tips
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Whitney Houston Update; IRS Publishes “Fresh Start” for Struggling Taxpayers; California Residency
We are in the heart of tax season, so naturally we have recently been addressing many related issues. We wish we had time to discuss them all on our weekly radio and web broadcast on KDOW 1220 AM, and then … Continue reading
Posted in Asset Protection, California Trust Law, Estate Planning, Estate Tax, Family Law, Filing Your Tax Return, Income Tax, Probate, Radio Show: Wealth Preservation and You, Tax Law, Trust Administration, Trusts & Estates
Tagged Bay area, California Franchise Tax Board, California resident, California state income tax, Connie Yi, Estate Planning, estate planning attorney, estate taxes, executor, Facebook IPO, family law, federal law, Fresh Start, Income Tax, inter vivos trust, Internal Revenue Service, IRS initiative, IRS.gov, KDOW, legal residency, Living Trust, LLC, MP3, Nevada, Pleasanton, podcast, Probate, probate court, probated will, professional tax adviser, San Francisco, San Jose, San Mateo, settlor, Silicon Valley, social networking, struggling taxpayers, tax season, telecommuter, testamentary trust, W-2, What Ifs, Whitney Houston, will trust
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Celebrity and High Net Worth Estates; Complex Family Structures; the Competency Issue
The recent passing of Whitney Houston and Davey Jones has put the topic of celebrity estates in the news. Frequently, celebrities quickly obtain considerable wealth as a result of their achievements and the adulation bestowed on them. Sometimes, a beneficiary … Continue reading
