Article Summary For California business owners, estate planning directly impacts business continuity, leadership authority, and family security. A Revocable Living Trust is essential to avoid probate and keep the business operating without court involvement. Minor children are protected through a structured Kids Protection Plan that includes Temporary and Permanent Guardianship Nominations, rather than relying Read More

Article Summary: Naming a trust as a beneficiary adds structure and long-term control. Trusts help ensure funds are distributed according to your wishes. They protect creditors from mismanagement. Trusts support compliance with tax rules and estate planning goals. For many families, retirement accounts represent decades of hard work and financial discipline. Deciding how to pass those assets on isn’t always Read More

Article Summary: Crypto is currently treated as property, not securities, under IRS rules. The wash sale rule (§1091) does not yet apply to cryptocurrency. You can sell crypto at a loss and repurchase immediately while still claiming the deduction. Congress has repeatedly tried to change this and future restrictions are likely. Crypto tax-loss strategies should be coordinated with your broader tax plan. For Read More

Buying or selling a business in California can feel exciting until the paperwork starts slowing everything down.  Many deals get stuck in escrow, not because of the price or negotiations, but because of one issue no one expects: unpaid taxes.  It’s frustrating when you think you're ready to close, only to learn that a missing filing or old balance is holding everything up. This happens more often than you’d Read More

Article Summary Personal goodwill exists when a business’s value is tied to the individual owner rather than the entity. When properly supported, personal goodwill can be sold separately and taxed at long-term capital gains rates if your business is taxed as a C-corporation, which can provide beneficial tax treatment.  Whether it exists depends on contracts, relationships, and business structure, making early Read More

Article Summary: Many of the 2026 tax updates apply to 2025 returns filed this year. Key changes include new deductions for tips and overtime, a higher SALT cap, expanded child and senior deductions, continued QBI benefits, full bonus depreciation, and increased flexibility for 529 plans. For California business owners, these updates create both opportunities and complexity, making coordinated tax, business, and Read More

Article Summary: Trustees need more than the trust document and require detailed financial, business, and family information. Provide a comprehensive financial overview that includes assets, liabilities, and business ownership. Share clear business succession plans, key employee details, and buy-sell agreements. Regularly update your trustee on significant changes in finances, family, or business. Protect business Read More

Article Summary Life insurance proceeds are generally not subject to federal income tax, but estate and structural issues can still create tax exposure. As your business grows, life insurance often shifts from personal protection to a core business and succession planning tool. Life insurance proceeds may become taxable due to estate tax inclusion, business-owned policy rules, transfer-for-value issues, or Read More

Article Summary: Restructuring an LLC or S corporation into a C corporation can be part of a strategy to pursue QSBS treatment, but only if QSBS-eligible stock is properly issued under Section 1202. When structured correctly and held for the required period, QSBS can allow up to $10 million (or 10x basis) of federal capital gains to be excluded on a future sale. This approach is most relevant for business owners Read More