Tax

The recent national election results have created uncertainty, some may say new hope, regarding the [..]

Owners of traditional Individual Retirement Accounts (IRAs) may use a special rule to achieve substantial income tax savings while benefiting charities of their choice. They may transfer up to $100,000 from their IRAs to charitable organizations without incurring income tax on the IRA withdrawal

Tax-deferred exchanges of commercial or investment real property are a common strategy for real estate owners. Federal courts have taken a pro-taxpayer approach in allowing taxpayers to structure these exchanges. California has not until recently.

Individual taxpayers may be aware that they must report foreign financial accounts on their income t[..]

Many IRA owners withdraw funds from their IRA accounts for short-term purposes. The owner then uses subsequent income to restore funds to the IRA. If the restored contribution is made within sixty days of the withdrawal, the withdrawal may be tax-free.