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Proposed 2021 Tax Code Changes
Posted in asset protection,tax planning,taxes on January 5, 2022
As many of you know, Congress is considering changing or not changing parts of the tax code. These are some items that are being proposed. Capital Gains – There would be no increase from 20% to 25% to the long terms capital gains rate. Corporate Tax Rate – The rate for Corporations will not be increased… (Keep reading)
Not All Property in Mexico Is Treated Equally
Posted in asset protection,estate planning on December 30, 2021
Property, for example, in the more desirable coastal regions are generally not open to ownership by non-Mexican citizens. That does not mean, however, that a United States citizen cannot own an “interest” in one of these beautiful towns or villages. Through an arrangement called a “fideicomiso”, a United States citizen, even a United States company… (Keep reading)
Posted in commerce tax,IRS,nevada business tax,nevada commerce tax,tax planning,taxes on December 30, 2021
In 2014, the IRS issued Notice 2014-21, 2014-16 I.R.B. 938, explaining that virtual currency is treated as property for Federal income tax purposes and providing examples of how longstanding tax principles applicable to transactions involving property apply to virtual currency. Since the IRS classifies cryptocurrencies like stocks and other investments, not cash or currency. Therefore,… (Keep reading)
Opportunity for Year End Tax and Asset Planning
Posted in asset protection,commerce tax,IRS,nevada business tax,nevada commerce tax,tax planning,taxes on December 30, 2021
First thing, of course, is be prepared. I tell everyone who will listen to do their financial and or tax planning on a monthly if not weekly basis. This will allow you to know where you stand financially and what taxes you owe at that moment so you can plan for the future. Look at low interest… (Keep reading)
What Are the Four Basic Types of Wills?
Posted in estate planning,probate on December 15, 2021
If you are in the process of planning your estate, then you must understand what types of different wills exist to ensure your wishes are carried out. While the process of estate planning can be overwhelming, learning about the different types of wills available can help make the process easier. Simple Will A simple will… (Keep reading)
What Does Estate Planning Mean?
Posted in estate planning on November 12, 2021
If you are like most people, the term “estate planning” may conjure up images of wills and trusts. However, estate planning encompasses much more. It’s vital to understand the full spectrum of estate planning to begin preparing for your future and that of your loved ones. Estate planning can help ensure that your family will… (Keep reading)
Posted in Firm News on September 16, 2019
For years an “S” Corporation was not able to have a non-resident alien be a shareholder. However the treasury department has issued a regulation to amend regulations to electing small business trusts (ESBTs) that are grantors.
Posted in Firm News on September 11, 2019
