Article Summary: The IRS allows deductions on vehicles, but the amount depends on weight, business use, and documentation. Section 179 offers generous write-offs, with SUVs capped at $31,300 in 2025 and passenger cars facing much lower limits. Business-use percentages and detailed mileage logs directly affect deduction amounts. Corporations can reimburse employees through accountable plans, avoiding taxable Read More

For married couples in California, knowing how property is classified will shape nearly every part of an estate plan. The distinction between community and separate property determines what happens to assets during divorce or after death, which is why many couples consider signing a community property agreement within their estate plan. A Community Property Agreement determines whether assets acquired during marriage Read More

When businesses in California purchase another company’s assets (an asset sale), the expectation is usually that liabilities remain with the seller. This separation is often one of the key reasons buyers structure transactions as asset purchases rather than full stock or ownership acquisitions. Still, exceptions to this rule do exist. Certain circumstances can lead courts to assign obligations from the seller to the Read More

As we continue to explore the changes within the newly signed federal tax law, named the “One Big Beautiful Bill Act” by the Trump administration, we want to contextualize how these changes will impact California families. The bill brings sweeping changes, which we discussed in our initial article on the bill, which will reshape how families and businesses save, spend, and plan for the future. For many California Read More

President Donald Trump recently signed into law the “One Big Beautiful Bill Act,” which reshapes certain tax deductions, credits, and exemptions for individuals, families, and business owners. This measure marks a significant milestone for U.S. tax law, shifting several key thresholds that directly impact family finances and long-term planning. Sorting through the language of the bill will take time, especially for Read More

For many California business owners and professionals, notarizing documents has often meant taking time out of a busy schedule to find a notary, travel to their office, and wait for an appointment. These steps can slow down important transactions and add frustration to everyday business activities. Fortunately, remote online notarization (RON), which we previously mentioned was coming, is streamlining the way Read More

If you own a business or have real estate investments in California, you’ve probably heard that changes in ownership can lead to a reassessment of property taxes. If more than 50% of a legal entity’s ownership interests change hands, the property it owns is typically reassessed at its current market value. This can bring a surprise increase in property taxes. Knowing exactly when and how these rules apply can help Read More

Managing multiple rental properties often means dealing with a complicated tax strategy, especially when it comes to how losses from those properties get treated. If none of your rental ventures individually meet the standards for active involvement, you might find yourself stuck with losses you can’t currently use. The grouping election offers a way to combine related rental activities so the IRS treats them as Read More

Your retirement account may be the largest number on your balance sheet, yet certain rules can chip away at its value when it finally reaches your family and beneficiaries. Naming a Charitable Remainder Trust (CRT) as the beneficiary allows you to rewrite that outcome, however. Doing so creates additional tax exemptions and advantages, allowing investments to keep compounding while loved ones receive a steady income Read More

Buying or selling a business involves a litany of financial implications that go beyond just what the business sold for. What matters, especially come tax season, is how that number gets divided among the assets being transferred. That process is called purchase price allocation, and it has a significant effect on what both the buyer and the seller owe or save in taxes. If you’re the seller, how the price gets split Read More