Funding Your Trust is Essential to Staying Away From Probate

Probate is a process by which a court oversees the distribution of an estate because the deceased person did not have an estate plan, or some assets were not accounted for in an estate plan, and is often expensive and time-consuming. If you have a trust, however, it could keep your estate from going through probate. In fact, if you have a trust alongside a General Transfer Document and Pour-Over Will, you’ll likely Read More

IRS Raises Mile Deduction Rate to Provide Some Relief From Soaring Gas Prices

Soaring gas prices have become a pain point for almost everyone. Thankfully, the IRS has taken action to provide relief to those who are affected the most. If you’re self-employed, or otherwise eligible to deduct your work mileage, this rate hike could save you plenty of money on your taxes this year. The Internal Revenue Service has increased the mileage deduction rate from 58.5 cents per mile to 62.5 cents per Read More

Giving to Charity? Give With Your Business Credit Card

Many entrepreneurs are not only focused on their business, but also on the people surrounding them. If you’ve ever felt the impulse to support a cause or give back to an organization, that’s great! However, you should consider giving back from your business account rather than your personal account. Right now, the money you give to a charity from your personal funds is called an itemized deduction. These deductions Read More

What Is Education? A Question Your Estate Plan May Want to Answer

You always think about your kids’ and grandkids’ futures. It might feel like the summer just got started, but August is around the corner … which means that back-to-school season is creeping up on us. But even while your kids prepare for their future in school, you’re often thinking a step ahead. What colleges are they going to attend? What type of future awaits them? When you’re gone, you may not be able to provide Read More

Everything You Need to Know About the New IRS Form 7203 for S-Corporation Shareholders

If you’re an S-Corporation shareholder, you’ve got some brand new tax reporting requirements to fulfill this year. We know this is probably the last thing you wanted to hear, but correctly filing this information is crucial to accurate tax reporting and avoiding potential issues with the IRS. We’re here to provide you with everything you need to know about the new form and reporting requirements, so you don’t have to Read More

3 Money-Savvy Benefits of Flat Legal Fees

Many people are terrified of calling a lawyer — even when they need it most. For a simple five-minute phone call, they’ll surely get a bill! Also, what if their attorney charges additional fees after that call that they can’t afford? At the Law Offices of Tyler Q. Dahl, we don’t believe in hidden, inflated, or surprise legal fees. As an entrepreneur and family-focused firm, we want to make sure that you always know Read More

The Fight Over Reasonable Compensation Begins Before the Investigation

S-Corp business owners gain access to great tax benefits that can save themselves and their business plenty of money - but these business owners should be careful to prepare themselves for a reasonable compensation challenge. The IRS gives special attention to S-corporations to ensure that owners are being paid reasonable compensation, and the tax penalties for being found in violation can be costly. Depending on how Read More

Establishing an S Corp? Don’t Forget Your Spouse’s Signature!

Depending on how you originally established your business, filing an S-Corporation (also known as an “S-Corp”) election could require the permission of your spouse - even if you didn’t plan for them to hold shares. Because California is a community property state, the property acquired by either partner during the marriage is considered both the property owner and the spouse 50/50. This also includes your Read More

Make Sure Your Business is CalSavers Compliant!

In 2016, California showed its dedication to ensuring its citizens properly plan for their retirement by enacting the CalSavers Retirement Savings Trust Act, which seeks to ensure that more Californians have proper retirement savings accounts. The act came in response to a significant problem within California's workforce, which is that almost half (48% as of 2019) of Californian employees aged 25-64 have no Read More

Why you Need a Business Law Attorney for Your Estate Plan

As a business owner, it’s critical to have an estate plan - but even more critically, an estate plan that accounts for your business structure and the ins and outs of your specific business. Estate planning isn’t just one area of practice, but rather an umbrella which many different areas fall under. The creation of an estate plan for a businessperson who operates a own stock portfolio, for example, will need a Read More