Foreign Bank Accounts And Gifts To The Federal Government
Today we talk about common problems people run into with Foreign Bank Accounts, Trusts or Foreign Pension Plans. Also how, if you so desire, can make a charitable gift to the U.S. Federal Government. For questions regarding these or other tax issues you may have please contact me at 510-797-8661
Real Estate Agents are Same as Brokers for “Real Estate Professional Rule” for Passive Losses
Real Estate Agents are Same as Brokers for “Real Estate Professional Rule” for Passive Losses Taxpayer victory in Tax Court Real estate agents can claim the real estate professional exception to the passive loss limitations. The I.R.S. tried to argue that the taxpayer needs to be a “Broker” not a just an “Agent” to meet…
10 Tips to Reduce Your Tax Burden
10 Tips to Reduce Your Tax Burden Updated: 1/3/13 With the start of a new year, tax season will soon be upon us. For 2012 returns, the tax filing deadline is April 15, 2013. Now is a good time to look for tax reduction strategies in preparation for filing your tax return. Here are ten…
Avoiding the AMT Trap
Avoiding the AMT Trap Updated: 10/23/2014 More and more taxpayers are finding a hidden tax on their individual tax returns. The alternative minimum tax (AMT) attempts to ensure that high income individuals who benefit from the tax advantages of certain deductions and exemptions will pay at least a minimum amount of tax. This tax was…
Hidden Costs of Estate Settlement
Hidden Costs of Estate Settlement As you look for ways to improve the financial outlook for your family, give extra attention to your choice of an executor for your will. Generally, the fee for settling an estate relates to the responsibilities of the job, not to who does the job. That means that anyone you…