Building Real Estate Wealth Internationally Investing in international real estate is an increasingly popular strategy for diversifying your portfolio, building long-term wealth, and tapping into emerging global markets. From luxury vacation homes to income-generating rental properties, opportunities abound. However, with these opportunities come complex U.S. tax obligations that cannot be ignored. Missteps in compliance can
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Do Influencers Pay Taxes? An Informational Guide to the Taxing of Content Creators
Do Influencers Pay Taxes? Are you an influencer or content creator wondering about taxes? This blog discusses do influencers pay taxes, how influencer’s income is taxed, what deductions influencers may take, and how to avoid common mistakes which may result in penalties. Introduction Whether you are on Instagram, TikTok, YouTube, or a podcast platform, chances
California FTB Top Past Due 500 Tax List – What to Do Now?
FTB Top Past Due 500 Tax List The California Franchise Tax Board (FTB) issues notices to the top 500 delinquent individual and business tax payers in the state warning those taxpayers they could be published on the FTB’ s Top Past Due 500 List or FTB 500 List. Taxpayers who find themselves on the FTB
CAN CALIFORNIA SALES TAX DEBT BE DISCHARGED IN BANKRUPTCY?
California Sales Tax Debt California sales tax debt can be discharged in bankruptcy if specific federal and state requirements, generally involving the age of the tax debt and proper filing procedures, are properly met. Unlike some states where sales tax is considered a non-dischargeable “trust fund” tax, California treats it as a tax on gross receipts, which
Understanding Unrelated Business Taxable Income (UBTI): What 501(c) Organizations Should Know
Understanding Unrelated Business Taxable Income For most 501(c) organizations, tax‐exempt status is central to their ability to operate effectively and focus resources on their mission. However, having a tax-exempt status does not mean every dollar an organization earns is automatically free from taxation. One of the most important — and often overlooked — concepts in
INCOME TAXES AND BANKRUPTCY
Income Taxes and Bankruptcy Filing for Chapter 7 bankruptcy involves specific requirements and carries implications regarding income taxes and bankruptcy for individuals. These implications may include focusing on filing requirements, the creation of a separate bankruptcy estate, the dischargeability of certain older tax debts, and tax refunds as potential assets. Pre-Filing Tax Requirements Before filing for
Student Loans and Chapter 7 Bankruptcy
Chapter 7 Student Loans Many people assume that student loans can never be discharged in Chapter 7 bankruptcy. While it is difficult to achieve this goal, it may not be impossible. Introduction In 1976, Congress made it exceedingly difficult to discharge student loans. This was in response to media attention concerning individuals who successfully filed
Why Corporations Must Strategize Charitable Giving Now: Navigating the 2026 Deduction Floor
Corporate Charitable Giving Strategy Corporate charitable giving strategy faces significant changes starting in 2026, as new tax legislation introduces a minimum threshold that could reduce or eliminate deductions for many businesses. The One Big Beautiful Bill Act has added complexity to corporate charitable contribution rules that C corporations must understand to plan their giving strategies
Starting a 501(c)(3) Nonprofit Organization and Securing Federal Tax-Exempt Status?
Starting a 501(c)(3) Nonprofit Organization Starting a new charitable organization is a significant undertaking, driven by a powerful commitment to addressing a public need. This journey demands more than just passion; it requires a structured, meticulous approach to legal formation and governance. Individuals who decide to enter the non-profit world must understand that the long-term
Understanding the Process: What Nonprofits Need to Know About IRS Revocation
IRS Revocation Process Obtaining and keeping federal tax-exempt status under Section 501(c)(3) is fundamental to the operations of charitable organizations. This designation allows donors to claim tax deductions and ensures the entity does not pay corporate income taxes on its core mission income. Despite this protection, news reports frequently discuss calls for the immediate IRS