When you execute a Transfer on Death (TOD) Deed, in order for it to be effective, it must be recorded. That being said, if you decide to deed the...

Unfortunately, No. CA does not have a foreign tax credit to offset overseas taxes for capital gains. There is a safe harbor for CA taxpayers...

From my experience, loan officers at banks do not like dealing with irrevocable trusts because (1) they do not have the requisite knowledge on how...

Generally, the Trust's address is based upon the address of the Trustee as the trustee will be the person administering the trust.

I am on j-1 visa, do I pay taxes if i get a social security number?

It depends on whether you are considered exempt from the 183 day rule for the purposes of establishing the substantial presence test. As a J-1...

Self Directed IRA Prohibited Transaction?

Prohibited transactions for self directed IRAs are listed in IRC 4975. Transactions to a disqualified person is a prohibited transaction. The...

How can I structure post-retirement business income to have it excluded from Social Security income limits?

Since you will be retiring, you may want to characterize the income as passive and just receive dividends, as dividends or K-1s. These are not...

Will capital gains bump us to a higher tax bracket?

If this is your primary residence, you and your husband wil receive an additional 250K exclusion each. As such, based on the numbers you stated,...

Can I be taxed on proceeds from a life insurance policy?

Generally, if properly structured, life insurance proceeds are income tax free; they may still be subject to estate taxes, if the owner of the...

Can I is a handwritten, notarized amendment to a family trust enforceable?

It primarily depends on the POA, if the POA allows for the attorny in fact to make modifications to the Trust. You really need to see an attorney...