What is the step-up benefit of a revocable trust from the perspective of the beneficiaries? How can a revocable trust not only pass money and assets to your beneficiaries but save a substantial amount of tax in the process? The answer lies in an understanding of the short-term and long-term...
Reduce Capital Gains When Selling a San Diego Business
There are several strategies to reduce capital gains when selling a business in San Diego or anywhere in California. This will require important steps to be taken prior to the completion of the transaction, as well as implications based upon the application of the proceeds. The structure of the transaction...
IRS Establishes an Enforcement Initiative for Cryptocurrencies
Those who have invested in Bitcoin and other virtual currencies should take heed as the IRS establishes an enforcement initiative for cryptocurrencies and how US taxpayers report these on all tax returns. The IRS believes millions of transactions involving US taxpayers have occurred with exchanges such as Coinbase, and is...