We’ve helped many clients come into compliance under both the offshore voluntary disclosure program (OVDP) and under the streamlined rules. The OVDP is coming to an end and there is the suggestion that the streamlined procedure may also sunset. If you have been putting off disclosing your offshore accounts, now is the time to take … Continue reading IRS to End Offshore Voluntary Disclosure Program
Learn more by clicking here. The IRS is clearly looking to have a direct impact on the lifestyles of taxpayers with unresolved tax debt. If you feel your tax liability is unjust, our office is available to discuss what your options are to seek relief. From the IRS website: Certification Of Individuals With Seriously Delinquent … Continue reading IRS Set to Begin Revoking Passports
Thank you to those who were able to tattend the 2018 tax reform conference call that took place last week, Jan. 10 at 1 pm, featuring Russell Stanaland and Abraham Martinez from Brio Financial Group. Interest in the talk was much greater than we anticipated. Who knew that our clients would be just as excited … Continue reading Tax Reform Conference Call Follow-Up and Recording
Plan Your Estate to: 1. Provide Stability For Your Family It is common for one spouse to end up managing most of the family’s financial affairs. In the event that spouse is the first to die, the surviving spouse can be left unaware of how to carry on the family’s financial affairs. This can lead … Continue reading Top 10 Reasons to Plan Your Estate
Brenda G. Wong interviewed Russell Stanaland for her weekly Q&A Tax Talk on the tax implications of building a guest house. Please find her article, published in Mansion Global, by clicking here.
Brenda G. Wong interviewed Russell Stanaland for a Q&A on the tax implications of purchasing property under a child’s name. Please find her article, published in Mansion Global, clicking here.
Russell Stanaland talks about California Trusts (video).
The Gizmodo Field Guide has a great summary post addressing your options available to give control to your digital life at death. There are many interesting idea here to consider. Some, such as the Facebook option that I tweeted about previously, are quick and easy, so go ahead and take care of that one! How … Continue reading How to Leave All Your Accounts to Someone Else When You Die
It is getting harder and harder for buyers to maintain privacy concerning the purchase price for real property in California. As of January 1, 2015, the time for privacy for new buyers will come to an end. The change will not impact most of the transfers necessary for your fundamental estate planning. Funding your revocable … Continue reading California Transfer Tax – Your Purchase Price Will Be Public
Internal Revenue Code section 61 defines gross income as “all income from whatever source derived.” This definition reaches your worldwide income, so it is important to understand exactly what “income” means. There are a couple of approaches to the definition of income. One approach is the Haig-Simons approach which indicates that income is the sum of … Continue reading Tax Tip – Identifying Gross Income