2020 Deficits and Potential Payroll Tax Holiday
California Health Insurance Penalty:
https://www.coveredca.com/individuals-and-families/getting-covered/penalty-and-exemptions/
Guidance addresses deductibility of expenses related to Paycheck Protection Program loans:
https://newsletters.usdbriefs.com/2020/Tax/TNV/200501_1.pdf
$3.7 Trillion Deficit:
https://newsletters.usdbriefs.com/2020/Tax/TNV/200501_3.pdf
Fewer People filed by April 15th:
https://www.cpapracticeadvisor.com/tax-compliance/news/21135618/21-million-taxpayers-delayed-filing-past-april-15
Payroll Tax Holiday
https://www.washingtonexaminer.com/news/white-house-strongly-considering-demand-to-include-payroll-tax-cuts-in-next-relief-package
Gifts to Grandchildren: Generation-Skipping Transfer Tax
Gifts to Grandchildren: Generation-Skipping Transfer Tax The federal government currently imposes three distinct taxes on the transfer of wealth. The first two limit the total amount of assets that a person can pass tax free to others in life or at death. The gift tax and/or the estate tax take a substantial portion of all…
Independent Retirement Account – Defined, What Are The Options?
Independent Retirement Account – Defined, What Are The Options? There are typically two types of beneficiaries for an Independent Retirement Account (IRA). A beneficiary can be either a spouse or non-spouse, and each group has different options and benefits to receiving money from an inherited IRA. INHERIT INDEPENDENT RETIREMENT ACCOUNT FROM SPOUSE If you inherit…
Estate Planning Can Protect Your Wealth From Obamacare
Have you considered that estate planning can protect your wealth from Obamacare? What if everything you worked for in life, was handed over to the government the moment that you were about to give it to your heirs? Unfortunately this nightmare could be a reality if you don’t plan against it. Obamacare has expanded Medicaid,…
Relocating? Revisit your Planning
Relocating? Revisit your Planning If you are new to our state, or someone among your family or friends has just relocated here, we say, “Welcome!” Your move was certain to have been hectic (isn’t everyone’s?), and you still must have a million things to do. Even so, we’d like to make some suggestions regarding your…