| Ramping up to the election, we get lots of questions about potential tax changes. Below are some proposals that are on the table – summarized in plain English!
Increase to Top Marginal Tax Rate Increase to Qualified Dividends and Long-Term Capital Gains Tax Loss of Stepped-Up Basis upon Inheritance Federal Estate Tax Exemption |
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2024 Year-End Planning
Prepare to wrap up 2024 on a high note and kick off 2025 with a solid plan! Here are some strategies to discuss with your CPAs at your upcoming year-end meeting. 1. Optimize Your Entity Structure Do you have the right entity for your needs? Should you make the S-election? Should you have a C-Corp […]
Tax Reporting Rules for Digital Assets Finalized by IRS
Significant developments in tax regulations related to digital assets will impact reporting processes for both brokers and taxpayers. The IRS has implemented new regulations that require brokers to report sales prices, tax bases, and other details for digital asset trades. After 2024, brokers will use Form 1099-DA to report proceeds from digital asset sales. The […]
Understanding the Tax Implications of Conducting Business in California
What does conducting business in California actually mean? There has been a lot of confusion around this topic, and it’s only increased in complexity since people working remotely and moving to other states either temporarily or permanently became more common during and after the pandemic. When is someone considered to be conducting business in California? […]
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