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).
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
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
We continue to receive calls from our clients reporting calls from these scammers. The IRS issued the following bulletin to help you protect your personal information and to report the abuse.
Basic Court Fees Let’s get the boring things out of the way first. For the most straight forward probate, there largest filing fees are incurred at the beginning and end of the process. The 2015 fee charged to file a probate petition is $450. There will be a $435 filing fee to file the petition … Continue reading California Probate: How Much Does It Cost?
On June 18, 2014, the IRS made the following modifications to the Offshore Voluntary Disclosure Program.