When considering a Delaware Statutory Trust (DST) property for a 1031 exchange, investors and their CPAs must also consider the tax treatment of DST properties. This article gives a brief overview of the various Delaware Statutory Trust tax treatment and DST taxation topics that investors should understand and go over with their CPA and tax attorney prior…
IRS Issues New Warning About Tax Credit Scams The IRS recently warned all Americans about the growing number of tax scams getting promoted on the internet and social media. Many of the scams involve fraudulently claiming tax credits like the Fuel Tax Credit and Sick and Family Leave Credit. In reality, the vast majority of…
Have you heard we have a new estate tax bill? Well, not exactly. But estate taxes were one of the myriad items covered by the Reconciliation Act signed into law on July 4, 2025, unofficially referred to as the One Big Beautiful Bill. The estate tax exemption, already at $13.9 million per person in 2025,…
The American Institute of CPA’s, seeing the problem, has suggested the IRS reinstate a prior contingency plan similar to what was done in the past when a budget crisis loomed. That plan would allow all IRS employees to continue to work with funds that the IRS holds over from one budget year to the next…
Most taxpayers do not understand that “primary” means first on the return, and “secondary” means second on the return when they are making payments to the government for estimated taxes or balances due. This happens typically when they fail to understand how the IRS computer systems work, which is, for married couples filing a joint tax return,…
One of the great ways to transfer wealth to other family members, or anyone for that matter, is to gift appreciated stock, or stock that has the potential of appreciating. Gifted stock is the transfer of stock from one person or entity to another. Gifting shares of stock that have the potential to grow significantly…
Calling the IRS will generally not yield more information about your refund. You can get the most up-to-date information about your refund status nearly around the clock by using the online Where’s My Refund tool (link below) or by calling the automated refund hotline at 800-829-1954. The Where’s My Refund Tool cannot always give a…
One of the great ways to transfer wealth to other family members, or anyone for that matter is to gift appreciated stock, or stock that has the potential of appreciating. Gifted stock is the transfer of stock from one person or entity to another. Gifting shares of stock that has the potential to grow significantly…
Why was Proposition 13 supported by such a large majority of voters? Prior to Proposition 13 (commonly referred to as ‘Prop 13’), property taxes were out of control. The tax rate throughout California averaged almost 3% of market value, and there were no limits on increases either for the tax rate or property value assessments.…
When selling an investment property, it is essential to understand the potential tax liability due upon the sale. Taxes resulting from a sale can significantly reduce your net proceeds. Federal capital gains tax rates can be as high as 20%, and applicable state taxes can be as high as 13.3%. The IRS applies a 25%…