Newport Beach, CA
Tax Lawyer at Newport Beach, CA
Practice Areas: Tax, Estate Planning
IRA's and Required Minimum Distributions When you reach 70 1/2 years old you are required to take Required Minimum Distributions ("RMD") from your IRA. If you do not you can be subject to penalties ...
See Full GuideWhy Tax Debt Forgiveness? A common question I see in practice is "Why do I have to pay taxes when a lender forgives my debt"? After all, under the tax code a taxable event normally occurs when an indi...
See Full GuideAre Gifts Taxed by The Federal Government? A gift is a transfer that can be taxable. The gift tax was instituted to potentially tax transfers of assets that would have been taxable to the estate of ...
See Full GuideA Qualified Personal Residence Trust, or "QPRT", is a creature of the tax regulations. It is an estate planning technique that is used to reduce the value of a taxable estate by removing a portion of t...
See Full GuideStep 1: Determine if this is Something you can Handle on your Own The IRS agent does audits everyday and this is not new to them. If you do not feel comfortable handling the audit by yourself hire ...
See Full GuideDependency Exemption Basics A dependency exemption is allowed in 2009 and 2010 on your income tax return if you meet certain qualifying tests. The exemption amount is $3650. You receive a personal ...
See Full GuideMisconceptions of the Homebuyer Credit Many do not realize it, but the Homebuyer Credit is not just for New Homebuyers anymore. Another misconception is that people think that their prior home must ...
See Full GuideIRA Background Information Many of our clients currently have a significant portion of their wealth in IRA's and their companies retirement plan. Their may be a benefit to considering a conversion o...
See Full GuideStatutory Notice of Deficiency A Statutory Notice of Deficiency is otherwise known as a 90 day letter. It starts the clock running on your options. You have 90 days from the date of the letter to f...
See Full GuideTo Roth or not to Roth? A Roth IRA is basicly subject to the same rules as a traditional IRA, only you do not get a deduction for the contribution and the income earned on the Roth is not subject to ...
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