Cameron Hess

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% […]


Tax Treatment of Appreciated Property Donations

December 26, 2017

To view this presentation on tax treatment of appreciated property donations offline, click here to download a PowerPoint copy. Tax Treatment of Donations of Appreciated Property from WKBK&Y LLP


Capitalize, Amortize or Deduct Adjusting for a New Recipe (263(a))

November 2, 2017

In an imaginary, taxpayer-friendly world, everything that is bought, acquired or paid for could be deducted at the taxpayer’s discretion, when taxpayer wanted – on purchase, incrementally, slow or fast. In that imaginary world, the tax adviser would have to simply ask “How much would you like to write off today on that purchase?” The […]