Tax Help

Tax Ramifications on Individuals and Employers of CA SB78

While the federal government eliminated the minimum health care coverage mandate under the Affordable Care Act, Californians are not off the hook. The California Legislature recently passed SB 78, which among many other things, in chapter 38, section 7, requires California residents and their dependents to obtain minimum health care coverage by January 1, 2020. The Legislature’s action is meant to reverse the revocation by Congress of the federal mandate that was an integral part of the Affordable Care Act. Supporters of the new California law voiced fears that without the mandate, the insurance market could fall apart. According to Covered California, new...

Tax Relief for North Bay Fire Victims

Firefighters are still battling to keep devastating wildfires under control in the North Bay.  Our hearts go out to the fire victims and those in the vicinity threatened by the fires. One ray of good news came from an unlikely source – the Internal Revenue Service (IRS). When the president declared the areas hit by the fires a disaster area, the IRS posted on their website the announcement of tax relief options for fire victims in these areas. Individuals and businesses in the following counties may qualify: Butte, Lake, Mendocino, Napa, Nevada, Orange, Solano, Sonoma, and Yuba.

The Tax Implications of an Estate

What are the Tax Implications if I Inherit, or am the Executor of an Estate?

There are times in life when asking questions is just the smart thing to do.

Until our tax codes are simplified, to answer a tax implication question can be time consuming and confusing.

Whether it is a simple Will, or a Will and a Trust it’s best to get informed advice.

The following are some frequently asked tax questions from clients who have inherited assets or are charged with disbursing someone’s assets after their death.