Doug Youmans
The California’s real estate market is troubled by a number of factors including: Depressed residential and commercial real estate values; Stagnant growth in employment; Skittish buyers; Over-extended financing and speculation; and Billions of dollars worth of variable/interest only loans “resetting.” These factors have caused record numbers of defaults or near defaults on residential property financing. […]
READ MOREThe interplay between the Internal Revenue Code (Title 26) and the Bankruptcy Code (Title 11) is often confusing and unnecessarily complex. This presentation is designed to simply and demystify some of this interplay both (i) procedurally, by explaining some of the provisions of how the Bankruptcy Code and the Internal Revenue Code interact; and (ii) […]
READ MOREI. IRREVOCABLE TRUSTS Functions. An irrevocable trust can shift property value and income to: Build an educational fund for a child; Provide current income for an adult child; Provide current income for an aged parent; or Provide asset protection for others. If the beneficiaries do not have immediate access to trust funds, those funds are […]
READ MOREFrom a public policy standpoint, it is inadvisable to allow tax patents because: They adversely impact the public’s statutory obligation to pay taxes and undermine the uniform application of the tax law and the integrity of the tax system. They interfere with the ethical and moral obligations that tax advisors owe their clients and make […]
READ MORE