Article Summary Personal goodwill exists when a business’s value is tied to the individual owner rather than the entity. When properly supported, personal goodwill can be sold separately and taxed at long-term capital gains rates if your business is taxed as a C-corporation, which can provide beneficial tax treatment.  Whether it exists depends on contracts, relationships, and business structure, making early Read More

Article Summary: Many of the 2026 tax updates apply to 2025 returns filed this year. Key changes include new deductions for tips and overtime, a higher SALT cap, expanded child and senior deductions, continued QBI benefits, full bonus depreciation, and increased flexibility for 529 plans. For California business owners, these updates create both opportunities and complexity, making coordinated tax, business, and Read More

Article Summary: A durable power of attorney takes effect immediately and allows an agent to manage personal and business-related personal matters without delay, supporting continuity when an owner is unavailable. A springing power of attorney becomes effective only after incapacity is established, which can introduce delays while medical determinations are made and shared. In most estate plans, business interests Read More

Article Summary: Trustees need more than the trust document and require detailed financial, business, and family information. Provide a comprehensive financial overview that includes assets, liabilities, and business ownership. Share clear business succession plans, key employee details, and buy-sell agreements. Regularly update your trustee on significant changes in finances, family, or business. Protect business Read More

Article Summary Life insurance proceeds are generally not subject to federal income tax, but estate and structural issues can still create tax exposure. As your business grows, life insurance often shifts from personal protection to a core business and succession planning tool. Life insurance proceeds may become taxable due to estate tax inclusion, business-owned policy rules, transfer-for-value issues, or Read More

Article Summary: Restructuring an LLC or S corporation into a C corporation can be part of a strategy to pursue QSBS treatment, but only if QSBS-eligible stock is properly issued under Section 1202. When structured correctly and held for the required period, QSBS can allow up to $10 million (or 10x basis) of federal capital gains to be excluded on a future sale. This approach is most relevant for business owners Read More

When you co-own corporate stock with a business partner, sibling, or investor, you’re not just choosing a title; you’re choosing what happens to your shares when life changes. And in California, that decision matters a lot more than most owners realize. This is especially true in company stock ownership situations where multiple stakeholders share control, and in broader joint stock company ownership structures where Read More

Have you ever paid the mortgage on a home you don’t legally own, and wondered if the IRS will still let you deduct the interest? According to a recent survey, 17% of homeowners with children report that family helps pay their mortgage, and nearly 40% of Americans rely on family financial help when buying a home.  These situations create a simple but critical question:Does the person making the payments get the tax Read More

Buying or selling a business in California can feel exciting until the paperwork starts slowing everything down.  Many deals get stuck in escrow, not because of the price or negotiations, but because of one issue no one expects: unpaid taxes.  It’s frustrating when you think you're ready to close, only to learn that a missing filing or old balance is holding everything up. This happens more often than you’d Read More

It’s common for parents to want to make things simpler for their children when it comes to inheriting what they’ve built.  Many Californians, however, believe that adding a son or daughter to the title of their home will spare them from the hassle of probate or complicated estate issues. Still, it actually creates more financial risk than necessary. On paper, it sounds easy. Just update the deed and be done with it. Read More