Client Memo – Year End Estate Planning
With the end of the year fast approaching and changes in the law scheduled to take place, we would like to remind you that this is a good time to evaluate your estate planning documents and strategies. Here are a few considerations for you to consider: For the expiring $5.12 million lifetime estate and gift […]
Client Memo – Changes in Federal, CA Income, Estate & Gift Tax Rates
With recent voter approval of CA proposition 30, the tax increases included in Obamacare, and the looming expiration of the Bush-era tax cuts both scheduled for January 1, 2013, we have presented below a summary of the changes in the tax code that will surely have an impact on you. Federal 2012 provisions 2013 provisions […]
Client Memo – Electronic Delivery Consent Required
In 2012, the IRS issued regulations establishing guidelines for partnerships to electronically issue a schedule K-1 to partners, as well as detailing procedures for partnerships to obtain the required partner’s consent for such electronic delivery. These regulations are now in effect. Pursuant to the regulations, in order to electronically issue a schedule K-1 to any […]
Client Memo – Document & Internet Security
As computers and the internet become vital to every organization, it is important to adopt security policies to safeguard and manage these company resources. We have listed a few security policy recommendations as follows: Passwords to limit workstation and confidential information access to authorized personnel only. Passwords should be kept secured, changed at regular intervals […]
Client Memo – Reminder: 2011 Year End Tax Planning
If you have not taken advantage of the favorable and generous tax situations that are unique to this year, we strongly suggest you review the following items and discuss with us how they might benefit you – Life-changing events such as marriage, divorce, birth, death, or retirement – Not only will they change your life, […]
Client Memo – New CA Worker Classification Law
Earlier in October, California Governor Jerry Brown signed a new worker classification law imposing significant penalties on employers who misclassify employees. Effective date – January 1, 2012 Key provisions – It is unlawful to voluntarily and knowingly misclassify an individual as an independent contractor. It is unlawful to charge the misclassified employee a fee or […]
Client Memo – Work Sharing Program
This program was established by the California legislature as an alternative to layoffs by minimizing or eliminating the need for layoffs and the accompanying hardships for affected employees. What are the benefits? During a temporary slowdown of the business, if the affected employees are retained instead of being laid off, employers can spare the expense […]
Client Memo – Qualified Personal Residence Trust
What is a QPRT? It’s an irrevocable grantor trust that is formed to own your principal residence or vacation home (the “Residence”) and transfer its ownership to the ultimate beneficiaries when the trust term ends. This is commonly used as an effective method of transferring wealth to the next generation at a discounted value in […]
