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Estate Planning Blog

S-Corp or LLC Better for My Business Part II?

S-Corp or LLC Better for My Business Part II? One of the most important distinctions between an S-corp and an LLC involves ownership. In general, an S-corporation may have only shareholders who are: (1) individuals who are U.S. citizens; (2) resident aliens; (3) certain types of trusts; and (4) other S-corporations

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Should I form a Nevada Corporation for my California Business?

There can be valid reasons for a California business to incorporate under the laws of another state. However, saving money is not one of them.

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The IRS and the Civil Fraud Penalty

Any civil fraud case will be very fact-specific. The key question is whether the IRS can prove, by clear and convincing evidence, that the taxpayer intended to evade a tax that the taxpayer knew he or she owed. Given the stakes involved, this merits close examination. If the IRS assesses or threatens to assess the civil fraud penalty against you, you would be well advised to consult with a tax attorney to discuss your rights and potential defenses.

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Help! My Spouse is Cheating on Her/His Taxes…

What are your options to effectively deal with the tax quagmire your spouse has created?

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Rather than peer hungrily at the data gathered by sites such as Facebook and Twitter, Google decided to create its own data gold mine—Google+. Unlike Facebook and Twitter, Google has complete access to the information on Google+ and is able to use that information to evaluate each website’s identity and reputation.

So…if you value your business’s search rankings on Google, better have a good Google+ presence!

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JONATHAN WATTS, has been named to the 2014 California Rising Stars list.

We are pleased to announce that Jonathan Watts has been selected to the 2014 California Rising Stars list. This is an exclusive list, recognizing no more than 2.5 percent of the lawyers in the state. Super Lawyers, a Thomson Reuters business, is a research-driven, peer influenced rating service of outstanding lawyers who have attained a […]

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The Fiscal Cliff is Looming. What Should You Do?

If you own a C-Corp it is likely it will make sense to pay yourself the qualifying dividends from your company’s retained earnings. This will take advantage of the low 15% 2012 tax rate and avoid the astronomical 39.6% 2013 tax rate. Finally, you should review whether selling your investments that have unrealized gains before 12.31.2012 makes economic sense.

Deferring your expenses probably would be the wrong call to make. Itemized deductions seem to be on the chopping block, both by Romney, many Democratic plans as well as most states. The 2012 itemized deduction rule should be, if you see a deduction, take it!

Of course the election results will further hone the New Year’s trajectory. These are just a few tips on ways to stay informed and savvy in the meantime.

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