Many California residents are paying more than what's necessary for state and federal taxes simply because they've never thought about the value of a proactive planning strategy. In our article library, we discuss the steps you can take to legally and ethically reduce your tax liability—as well as how to best handle IRS collection concerns.
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OCEAN AVENUE LLC v. COUNTY OF LOS ANGELES
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Property Tax Planning For the Real Estate Investor After California Proposition 19
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The Charitable Lead Annuity Trust (CLAT) Is a Useful Tool for Tax SavingsA properly structured Charitable Lead Annuity Trust (CLAT) can be a useful tool for those seeking an income tax deduction before December 31st. Learn more here.
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Avoid California State Income Tax with the NING TrustCalifornia has the highest combined federal and state income tax rates in the nation. Learn what you can do to protect your estate!
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The Ins and Outs of IRS Collection ActionsJohn Goralka (of Sacramento CA) highlights some of the ins and outs of what happens when you owe the IRS money.
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Advanced Income Tax PlanningGoralka Law Firm enjoys working with lottery winners, and other persons with high income events such as from business sales, stock options and law suit verdicts to minimize the associated income tax.
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Beware of the Marital Formula/Funding Trap!If you have a trust that utilizes an AB format, it should be reviewed to be sure that it is consistent with your wishes. Call our office for a free review.
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Court: IRS Can Reclassify S Corp Distributions as WagesJohn Goralka (of Sacramento CA) writes about how to manage business affairs under S Corporation.
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How a Levy Compares With a LienA Notice of Levy is another method the IRS may use to collect taxes that are not paid voluntarily. This means the IRS can legally confiscate money or assets to satisfy a tax debt.
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What Does it Mean if the IRS Files a Lien?John Goralka (of Sacramento CA) explains what to do when you have an IRS lien.
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1031 Exchange Rules and RequirementsIf you intend to convert your primary residence into a rental property, for tax purposes you must follow strict California guidelines. We help you do it right.
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How to Get Around Income Limits on Roth IRAsA backdoor Roth IRA is a legal way to get around the income limits that restrict high earners from contributing to Roth IRAs. Find out if this is for you here.