Phanton tax is an issue that affects pass-through entities. It occurs when the entity reports a profit, but individuals to whom a percentage of that profit is allocated do not receive the cash reflecting that allocation. It is vital to understand how this phenomenon works so that you can avoid it and effectively manage your…
Tax Implications of Transferring Property Into a Trust can be an effective tool for protecting assets without negatively affecting your finances, and in certain circumstances even helping protect property from creditors.Tax implications associated with the transfer of property into a trust can be complex and varied depending on your unique circumstances. Trust documentation plays an…
If you need tax help, be sure that your chosen professional has all of the right credentials and experience. They must understand current tax law well enough to communicate it clearly to their clients.Tax professionals typically fall into three main categories, including CPAs, EAs and enrolled agents. Their qualifications, credentials and experiences vary accordingly. 1….
With high taxes, restrictive regulations, and costly labor, energy, and utility costs inCalifornia, many wealthy residents have considered leaving. But before making sucha drastic decision, they may want to reconsider.This bill would tax former residents for up to 10 years after leaving California on anywealth they accumulated during that period, violating federal due process andinterstate…
End of content
End of content