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Cameron Hess

How To Factor In Taxes When Considering Special Needs Trusts / (ABLE) Accounts

July 13, 2021

Cameron L. Hess was recently interviewed by Financial Advisor Magazine on the topic of the financial vehicles used for supporting disabled individuals, specifically the special needs trust and the Achieving a Better Life Experience (ABLE) account. The complete article can be found here.

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Announcements – Cameron Hess, CalCPA & the Paycheck Protection Program

July 2, 2020

Cameron L. Hess, Esq. recently spoke at two CalCPA webinars covering the PPP Program, including the Sacramento Chapter Discussion Roundtable – PPP Loan Documentation and NOL The New Regime, and subsequently before 220 members in a more in-depth coverage for PPP Loan Documentation, a CalCPA Education Foundation course. As a highlight, Mr. Hess identified that […]

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California Revises Form 593 – Real Estate Withholding Statement

July 2, 2020

For California real estate sales not otherwise exempt, there is a mandatory 3 1/3% withholding requirement from the seller’s gross sales price. Usually this is handled through escrow and in an installment sale; the amount may be paid in installments. California also allows self-reporting to compute withholding using the actual estimated gain, assuming that the […]

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Helpful COVID-19 Related Links – Taxes & Loans

July 2, 2020

CDTFA Sales Tax application to delay payments 60 days:  https://www.cdtfa.ca.gov/services/covid19.htm EDD application to delay payments of state payroll taxes information:  https://www.edd.ca.gov/payroll_taxes/emergency_and_disaster_assistance_for_employers.htm#RequestsForExtensiontoReportandPay City of Sacramento, zero interest business continuation loans up to 25k, ($1M cap):  https://cityofsac.forms.fm/covid19-relief/forms/7750 City of Roseville – Interest free loans up to 20k:  http://roseville.ca.us/cms/one.aspx?pageId=16550955 (application period begins 3/26 at Noon)

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PROPERTY TAX REDUCTIONS & COVID-19 FOR 2020

July 2, 2020

Property Tax Reductions Does COVID-19 provide an opportunity for a California property tax reduction? Possibly and sometimes, but it involves some careful planning.While COVID-19 can certainly affect property values, because California uses a January 1, 2020 lien date to set most assessed values – and that’s what determines the property tax bill, unfortunately, the Assessor’s […]

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IRS Provides Broad Extension to July 15, 2020

April 16, 2020

The IRS has issued Notice 2020-23 which effectively extends about 300 deadlines in connection with taxpayer filings, elections, payments and administrative actions as well as governmental actions. In a nutshell, multiple actions have been extended to July 15, 2020 involving a broad range of activities. These extensions address both taxpayer concerns and reduced IRS workforces […]

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