Cameron Hess

IRS vs. California EDD on Reclassification of Independent Contractor

April 25, 2018

California businesses whose outside contractors are examined for misclassification wish they had a Jedi mind power over auditors to say: “These are not the workers you are looking for.” Because the IRS and the California Employment Development Department (EDD) have somewhat different approaches when examining worker classification for independent contractors, it is important to understand […]


Tax Strategies Under the New Section 199A

April 13, 2018

For an offline copy of this presentation on appropriate tax strategies in response to the passage of the Tax Cuts and Jobs Act, click here to download a PowerPoint copy. Tax Strategies Under the New Section 199A from Wagner Kirkman Blaine Klomparens & Youmans LLP For additional Section 199A information, follow this link to an […]


Offshore Voluntary Disclosure Program Ending

April 2, 2018

Because US laws differ from most other countries, many do not realize that those who are considered to be United States taxpayers are taxed on worldwide income; they must report offshore accounts and income, regardless of where they are currently residing.  They must also file an FBAR (FinCEN Form 114, previously Form TD F 90-22.1.) […]


New Tax Law and How It Affects the Real Estate Industry

March 9, 2018

The Tax Cuts and Jobs Act (ACT) has produced probably the greatest tax law changes in 30-years.   In fact there are so many changes, it is difficult to make generalizations that are true for most everyone as to whether they will have more or less tax, without grouping people into categories. To read this article […]


BOE Walks Into the Valli Decision

February 13, 2018

Advisors as the effect of property tax on transfers of interests into legal entities may want to consider the recent State Board of Equalization (BOE) Letter No. 2018/014 on February 12, 2018.  We anticipated this letter a few years ago.  The 2014-year decision by the California Supreme Court in In re Marriage of Valli, 58 […]


Section 199A: To Be or Not to Be a Trade or Business

January 11, 2018

The fickle Section 199 domestic production deduction, which benefitted the real estate construction industry, has left us like a jilted lover.  New to town, however, is Section 199A and she has a very different personality. Former Section 199 (Domestic Production Deduction.) Briefly, the former Section 199, which ended December 31, 2017, generally provided a 9% […]