President Biden has made tax proposals which effect estate and gift tax. Currently, there is a unified exemption for after death estates and lifetime gifts in the amount of $11.7 million. This means a person may leave $11.7 million in inheritance; make lifetime gifts up to $11.7 million; or a combination of inheritance and gifts […]
Learn how assets are valued and how the IRS will consider the assets in order to best advise your clients. The business is typically the cornerstone of an individual’s estate and its value. Knowing the aspects of a valuation and how to review a valuation report is critical for estate planning and filing returns with […]
Although things are starting to return to normal as of June 15th (see blog post), loosened alcohol sales and consumption laws will remain in effect for the remainder of 2021. The Department of Alcoholic Beverage Control provided various temporary allowances during COVID which included the ability to return purchased alcohol; allowances of off-sales purchases from on-sale retailers; […]
Is your home or business at risk during a tax collection process? Let’s say that the IRS informed you that you owe the agency money for back taxes or tax debt. This isn’t exactly rare, but it isn’t exactly common either. When you are informed, it will likely take some time before you are able […]
Most of us are taught from a young age never to assume anything. Why? Well, because when you assume, you make an … you probably know how the rest of the expression goes. A dangerous assumption that many business owners make is that, if their companies are profitable, their cash flow must also be strong. […]
Business owners need to beware of California EDD attempts to reclassify 1099 workers as “employees”. The EDD recently announced a new strategy to pursue audits to re-classify independent contractors as employees, thereby creating a payroll tax obligation for California businesses. Your exposure also extends to bast benefits and overtime wages with a look-back period of up to […]
So let’s say that you are general counsel of a company suing a larger competitor for Monopolization and Attempted Monopolization under Sherman Act, Section 2 based upon that monopolist competitor’s tying arrangements, exclusive dealing agreements, and their refusal to deal with you. You have a great case; that much was made clear in your summary judgment briefing and the attached […]
Bona Law attorneys Aaron Gott, Luis Blanquez, and Kristen Harris filed an amicus curiae brief in the U.S. Supreme Court May 20, 2021 in support of a petition for writ of certiorari that asks the Court to decide whether the Fourth Amendment to the U.S. Constitution gives vehicle owners the right to a continued detention hearing pending civil forfeiture proceedings. The […]
Selling a small to medium-sized business is a complex venture, and many business owners are not aware of the tax consequences. If you’re thinking about selling your business the first step is to consult a competent tax professional. You will need to make sure your financials in order, obtain an accurate business valuation to determine […]
Hidden Assets, Theft, and Other Malfeasance By Nevin SanliPresident & Founder Sanli Pastore & Hill, Inc. For over 30 years Nevin Sanli has performed valuation opinions, forensic accounting, fairness and solvency opinions, expert witness testimony, and has worked hundreds of divorce cases, usually with large assets involved, throughout his career. In this webinar, he will […]
In 2017, a Villanova University business professor posited that there would be only 30 technology companies in 2030, 10 in 2050—and then none.1 In a sector defined by consolidation, the tech companies that have survived in competitive markets have become household names, with brand assets that contribute to their financial performance and valuation. !ese companies […]
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