Newsletters
Corporate Transparency Act
Recently enacted, the Corporate Transparency Act (the “CTA”) mandates that, effective January 1, 2024, many legal entities (corporations, ...
January 30, 2024 – CalCPA’s Real Estate Virtual Conference
Cameron L. Hess, CPA, Esq, is a planning coordinator and will be a speaker at the January 30, ...
Calculating and Maximizing Deposit Insurance for Revocable Trust Bank Accounts
Prompted by the recent takeover of Silicon Valley Bank, the Federal Deposit Insurance Corporation (“FDIC”) has published guidance ...
Robin Klomparens receives the 2019 Joanne M. Garvey Award
Robin L. Klomparens received the Joanne M. Garvey Award to recognize her lifetime achievement and outstanding contribution in ...
Musings on Implications of the Repeal of the Technical Termination Provisions Under IRC 708 for 1031 Exchanges
The real estate industry customarily uses limited liability companies or limited partnerships(herein “partnerships”) to hold real estate assets ...
Top Attorney – Jenni L. Harmon
Mather, CA WW/Press/August 23, 2017 – Jenni L. Harmon, Associate Attorney with Wagner Kirkman Blaine Klomparens & Youmans ...
Choice of Entity Outline
This article is an outline of a lecture which we recently gave at a San Francisco tax conference. ...
Partnership Tax and Disguised Sales §704(c)(1)B
There are several disguised sale rules under Subchapter K. IRC Sections 707(a)(2)(B), 704(c)(1)(B), 737 and 751(b). Needless to ...
Modifying an Option Agreement? It May Be Considered a New Agreement for Tax Purposes.
PAYMENTS RECEIVED UNDER OPTION AGREEMENT ARE NOT TAXED UNTIL EXERCISE OR LAPSE “An option is a contract which ...
Satisfying Personal Injury Judgment with Settlement Proceeds from a Bad Faith Claim
Compensation for a victim’s injuries in a personal injury accident is typically made by an insurance company. In ...
Home Mortgage Forgiveness in California and Related Income Tax Consequences
This article addresses the tax consequences arising from the relief or cancellation of debt (“Mortgage Relief”) arising from ...
Estate Planning With Family Limited Partnerships
Introduction For many apartment owners, the use of a family limited partnership can be an effective estate planning ...
The Property Tax Deduction Problem
This post addresses the confusion caused by the Franchise Tax Board's (“FTB”) decision to limit property tax deductions. ...
Taking Title to Trust Assets
Both accountants and lawyers are frequently asked how to title property which is in a trust. A trust ...
Corporate Dividend Changes with AB 571
California corporations are limited as to how much they may pay out in any one year to its ...
Family Limited Partnerships as Estate Planning Tools: Pitfall Checklist
This issue of the WKBK&Y newsletter addresses Family Limited Partnerships as Estate Planning Tools. For a while, practitioners ...
Allocation of Debt Among Partners in Tiered Partnershipsc
This month's newsletter focuses on allocation of debt among partners in tiered partnerships. Last month we reviewed the ...
IRC 752 – Allocation of Debt Among Partners
This month's newsletter focuses on an oldie but goodie: IRC 752 — Allocation of debt among partners — ...
Tax Services Newsletter – Treatment of Losses from an Abandonment
This issue of the WKBK&Y newsletter addresses: Tax Treatment of Losses from an Abandonment or Worthlessness of a ...
How the Patent Process Works – Requirements for Patentability
In order to obtain a utility patent on an invention, the invention must be new, useful, and not ...
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