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Archives for 2012

Real Estate Insurance: Flooded by Hurricane Sandy

  Real Estate Owners Dreams are Washed Away We’ve seen the pictures of devastation heard the stories of tragedy and were inspired by the relief concert. There’s another story not jumping off the newsstands that’s just as incredible. Thousands of real estate owners have been denied insurance coverage for “flood loss” in the wake of […]

Estate Planning – Just Another West Side Story

Estate Planning in the 21st Century Computers have changed the way we live – and for those concerned with estate planning – the way we have to prepare for death. Our increased reliance on technology has created a new asset – online digital data – that needs to be managed just like any other estate planning asset. Failure to […]

Small Business LLC: Promised Land or Myth

LLC’s – The Best of Both Worlds You’ve got a great idea for a small business llc. Confidence and anticipation are at an all-time high. In short, you’re ready to conquer the business world!  Don’t cut the rid ribbon and pop the bubbly just yet.  Before opening your doors, make sure a small business llc is […]

Real Estate Law: Top Ten Rules for People Selling Their Home

Real Estate Law & Tax Rules in California Real Estate law in California is confusing. But, that doesn’t mean you can ignore the implications associated with California real estate law. Nor, however, can you ignore your obligations to “Uncle Sam.” Understanding real estate law as well as your tax obligations is paramount to realizing a profit (or “gain”) when you sell […]

Using IRC 1031 Tax Law to Exchange Investment Property Tax Free

Avoiding Income Taxation through Tax Law IRC 1031 Current tax law provides that individuals selling investment or business real estate at a profit are subject to income taxation. The tax rates on profits under the tax law code are: 15% Federal capital gain 25% Depreciation recapture 9.6% California capital gain (other states vary) We have saved […]

Piqued at Property Tax Law Increases: Prop 8 & Prop 13 Tax Law Rules and Interplay

Let’s face it – tax law causes Californian home owners to tremble in fear. And, who can blame them? Tax law is confusing, especially as it relates to real estate tax. Our tax law practice has shown that failing to plan for how California real property tax law can lead to financial turmoil for home owners. Prop 13 Tax […]

Estate Planning Gifts: Is It Better to Give or Receive?

Gifts, as it relates to estate planning, can be tricky. Children may remember their parents telling them at some point in their lives (usually, on Christmas after being disappointed when Santa messed-up and got them the wrong present) that it is better to give than to receive. Well, while your parents may have simply been trying […]

Tax Law & Things To Know About Capital Gains & Losses

Tax Law can be a source of great amount of stress and frustration.  The legal and financial issues surrounding tax law can be confusing and expensive. One of the most fundamental concepts of tax law surrounds capital gains and losses, the importance of which could make or break you financially. Basic Tax Law Guidelines & Capital Gains […]

Special Taxes and Bankruptcy Rules

In seeking debt relief, many think taxes and bankruptcy are tied together. We’ve shared the four technical requirements to discharge old back taxes in Bankruptcy. And, we’ve touched on whether penalties assessed on unpaid back taxes are dischargeable in Bankruptcy. It’s imperative to caution our readers of some of special rules and issues that can tie […]

Consumer Guide to Credit Reports Part 7

In this series, we’ve covered: what a credit report is used for, why it should be periodically reviewed, how to review it, how to deal with fraudulent transactions or accounts, how to calculate debt-to-credit ratios, the two types of credit inquires. Last up is how to handle credit delinquencies/collections and rebuilding credit after bankruptcy. Delinquencies […]