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April Tax Newsletter

April Tax NewsletterState & Local Taxes
April 13, 2018

State and Local Tax – Something to think about… California Wildfire Credit

President Trump signed a Bill that provides a credit to certain California taxpayers located within the areas impacted by the recent California wildfires.  The bill is known as the Bipartisan Budget Act of 2018, H.R.…
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April Tax NewsletterEstate PlanningReal Estate
April 13, 2018

Estate Planning – Avoiding California Property Tax Reassessment Through Proper Use of Parent-Child Exclusion

When dealing with a death in the family and administering assets of the deceased family member, the county-level property tax reassessment rules for transfers of California real estate are often overlooked.  Generally, the taxable value…
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April Tax NewsletterCorporate Tax
April 13, 2018

Corporate – Tax Reform Effects on NOLs and Section 382

The Tax Cuts and Jobs Act (“TCJA”) of 2017 has major implications for corporate taxpayers, and one area of change is with regard to the use of net operating losses (NOLs).  Under pre-tax reform law,…
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April Tax NewsletterMergers & Acquisition
April 13, 2018

M&A Tax Planning – Qualified Small Business Stock – Potential for Large Gain Exclusion on Sale

Section 1202 was passed to encourage economic activity, employment, and investment in new ventures and small businesses. Under section 1202, a non-corporate taxpayer is able to exclude gain from the sale or exchange of qualified…
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April Tax NewsletterInternational
April 13, 2018

International Tax – Impact of §965 on Subchapter S Corporations

HR1, also known as the “Tax Cuts and Jobs Act” (“the Act”), imposes a one-time transition tax on U.S. Shareholders of Specified Foreign Corporations (“SFC”), including S corporations, through a mandatory repatriation as set forth…
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