The past few months have presented a great amount of uncertainty in the real estate markets due to coronavirus. While the residential real estate market has picked up somewhat, many commercial properties are struggling to sustain or regain their values. Fortunately, there is a way you can use this decline-in-market value cycle to your advantage: by appealing your commercial property’s tax bill with the County Read More
All in the Family: Wise Tax-Saving Strategies
There is a certain allure that family-owned businesses have in this country - “mom-and-pop” stores are still an important part of the local, state, and national companies. One of the defining features of these Main Street businesses is the fact that family members, often across several generations, often keep these small businesses running. Recent changes to the federal tax code (the Tax Cuts and Jobs Act of 2017) Read More
Minimizing Your Tax Burden When Selling Your Company
The time is finally nigh to begin seeking a buyer for your successful California small business. After all those hours of sweat equity, you are ready to fully enjoy the fruits of your labor. One thing that concerns you, though, is having to pay all those taxes on your capital gains. To confront this issue, this blog will provide some general information on how to reduce your tax burden in this situation. Why Do Read More
Save Money on Taxes By Crafting an Accountable Plan
If you’re like most entrepreneurs these days, you are looking for every possible way to save money so your company can stay afloat and make it through these difficult times. We encourage you to take advantage of and (quickly) apply to every relief option offered by the state and federal government. On your own, you should look at a number of tax-reduction strategies; this blog will take a look at one of these Read More
4 Year-End Tax-Saving Strategies for 2019
As we head towards the end of the year, we’re fast approaching the deadline to implement your family’s tax strategies for 2019. The Tax Cut and Jobs Act (TCJA) completely overhauled the tax code, and if you’ve yet to take full advantage of the benefits offered by the new tax law, now is the time to do so. To qualify for some TCJA tax benefits, you’ll need to act by December 31, so don’t wait to get started. The Read More
S-Corporations Vs. C-Corporations
What is the best legal structure for your business? While there is an assortment of different structures (corporation, limited liability company, partnership, etc.), it is first important to understand the difference between an S-corporation (“S-corp”) and C-corporation (“C-corp”). An S-corp is a corporation that elects to be taxed under Subchapter S of the Internal Revenue Code. The profits (and losses) of an Read More
