Considering Starting a Business? Here Are 3 Things Every Business Owner Should Know About Tax Laws
Considering Starting a Business? Here Are 3 Things Every Business Owner Should Know About Tax Laws Understanding tax laws is crucial for business owners to ensure compliance and optimize their financial strategies. Here are three key things every business owner should know about tax laws: CLASSIFICATION & TAX STRUCTURE Business owners should […]
The Most Important Things to Consider When Gifting Real Estate to Your Children
The Most Important Things to Consider When Gifting Real Estate to Your Children Gifting real estate property to children is a significant financial and legal decision that requires careful consideration. Here are some important things people need to know when gifting real estate property to their children: TAX IMPLICATIONS Gifting real estate property […]
5 Reasons Why a Regular Meeting with Your Tax Attorney is Critical
Five Reasons Why a Regular Meeting with Your Tax Attorney is Critical Business owners juggle many responsibilities. Taxes are one of the most crucial areas, and also one of the most overlooked areas, for business owners. Failing to meet with a tax attorney each year can not only result in lost income, it can also […]
WHAT YOU NEED TO CONSIDER WHEN GIFTING REAL ESTATE
What You Need To Consider When Gifting Real Estate When gifting real estate to beneficiaries, owners should understand the potential for post-gift legal disputes, the property tax implications, and the income tax consequences of the change in ownership. If the property is gifted during the owner’s lifetime, the owner must consider the major legal issues […]
The Gift Clock is Ticking
The Gift Clock is Ticking: Tax Changes to Expect in 2026 Federal tax laws are changing on January 1, 2026. What does this mean? It means the amount that you can give away without gift or estate tax will be cut in half. With that in mind, here’s what you need to know… CHANGES IN […]
Mutual Water Company Taxation: What Your Company Needs To Do
Mutual Water Company Taxation: What Your Company Needs To Do For mutual water companies, taxation can be a confusing topic. As attorneys who have an experienced water law and public agency practice area, we have three must do’s regarding mutual water company taxation. APPLY FOR AND HAVE FEDERAL TAX-EXEMPT STATUS Under federal law, mutual water […]
Legal Entities and Real Property: Limiting Reassessment
Legal Entities and Real Property: Limiting Reassessment Legal practitioners have rightfully promoted the many advantages of holding real property in corporations, limited liability companies (LLCs), and other legal entities. By doing so a landowner can limit personal liability, exercise a degree of anonymity, and realize various tax efficiencies. However, when advising clients regarding the transfer […]
