Opportunity Zones Offer Tax Deferrals to Real Estate Investors, But Benefits Should Be Weighed Against Like-Kind Exchanges
Real estate investors looking to shield their capital gains from tax are often curious about the Opportunity Zones that were created in the Bay Area following the adoption of the 2017 Tax Cut and Jobs Act to spur economic development in economically depressed areas. While these zones provide real estate investors with a wonderful opportunity […]
California Businesses Need to Review Classification of Independent Contractors to Ensure Compliance with New Gig Worker Law
Beginning January 1 of this year, California businesses must comply with new legislation making it significantly more difficult for them to use the independent contractor designation to avoid the expenses involved in providing employee benefits. The law, California Assembly Bill 5 (AB 5), will require many businesses to reclassify their California-based independent contractors as employees. […]
The Tax Implications of Foreign Income if You Are a U.S. Green Card Holder
If you have been issued a U.S. green card you are currently a tax resident of the U.S. beginning the year you were issued the card. That means you are required to report all of your income to the IRS, regardless of whether it was earned in the U.S. or abroad. The good news for […]
How are Capital Gains Recognized and Taxed?
The Federal long-term capital gains tax is a tax imposed on a taxpayer’s profits from the sale of assets that were purchased as an investment or for personal use and have been held for more than one year. A taxpayer only becomes liable for paying the capital gains tax when an asset is sold, therefore […]
