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Ownership & Titling Thoughts of International Estate Planning
International Estate Planning Pt. 4 This is the fourth and last in a series of blogs about the tax aspects of international estate tax planning. Ownership & Titling Thoughts Corporations: Many people choose to hold real property in the name of a corporation...

Tax Aspects of International Estate Planning
International Estate Planning Pt. 3 It is becoming more common for Americans who are not otherwise considered wealthy to own assets outside of the US, and conversely, for foreigners to own assets in the US. Will the US get to tax these assets, and if so, how? This is...

Replacing your Software? Let’s be Realistic…
If you’re reading this, I suspect you’re interested in some level of moving your business forward with sustainable improvements in this time of emerging from some very challenging years. Not everyone has that ability right now, and I join you in feeling empathetic to...

U.S. Estate and Gift Tax
International Estate Planning Pt. 2 This is the second in a series of blogs about the tax aspects of international estate tax planning. What assets are subject to US estate tax? So far, I’ve used the terms estate tax and gift tax interchangeably, but there are...

International Estate Planning
Everyone will agree that the world is much smaller now than ever and continues to shrink. It is becoming more common for Americans who are not otherwise considered wealthy to own assets outside of the US, and conversely, for foreigners to own assets in the US. Will...

Pass-Through Entity Tax Changes Applicable to Tax Year 2021
California Governor Signs into Law Taxpayer-Friendly Measures Related to California’s Pass-Through Entity Tax (PTE), Net Operating Loss Limitations and Other Provisions Overview Following the recent proposed budget by Governor Gavin Newsom, the California legislature...

California Increases Conformity Provisions to IRC Section 529 Tuition Plans
OVERVIEW Existing law, known as the Golden State Scholarshare Trust Act, establishes the Golden State Scholarshare College Savings Trust, under the administration of the Scholarshare Investment Board, to provide financial aid for postsecondary education costs of...

2021 California Business Income Tax Returns to Include Unclaimed Property Questions
CALIFORNIA ASSEMBLY BILL (AB) 46 Assembly Bill 466 authorizes the Franchise Tax Board (“FTB”) to share certain information with the State Controller’s Office related to unclaimed property. Beginning tax year 2021, the FTB will include additional questions for...

California’s Pass Through Entity Tax – Summary, Examples, and Frequently Asked Questions (FAQs)
What are the effective dates of the new tax? The elective pass through entity tax (PTE) is effective for tax years beginning 1/1/2021 and before 1/1/2026. The California PTE will terminate prior to 1/1/2026 upon termination of the current federal $10,000 limitation...

Jeremy Dillard’s PCC Spring 2021 Meeting Recap
Jeremy Dillard recently reported a recap of the Private Company Council's Spring 2021 Meeting, focusing on the practical expedient for share-based payments. You can watch the full video here:...