Taxation: Income, Property, Estate

Consider all taxes in any deal or lawsuit
Nearly every legal situation involves either sales taxes,  income taxes, property taxes, and /or estate taxes.  Aside from doing the basic legal work regardless of whether it is a business, real estate, estate planning or other type of situation, we consider the taxes and advise on the tax effects.  While considering the taxes is important, our motto is to “not let the tax tail wag the economic dog”!

Income taxes

  • Income tax planning and analysis of tax effects of buying and selling of stocks, real estate and business
  • Tax advice and planning of section 1031 tax-deferred exchanges, capital gain and loss, tenancy in common deals and tax basis
  • Analysis of income tax returns and tax documents and capability of preparation of any type of income tax form
  • Advise on how to keep your records so as to be in compliance with the law
  • Representation of taxpayers in IRS tax audits
  • Selection of the proper entity to use for your venture to maximize the income tax benefits
  • Tax planning methods for closely held businesses
  • Sensible advice on what is and what is not tax deductible
  • Retirement tax planning

Property taxes

  • Advise on County property taxes which can be very significant
  • Preparation of all county property tax forms including change of ownership, parent child exclusion and transfer of property tax basis
  • Property tax appeals
  • Tax lien sales

Estate taxes

  • Estate Planning to minimize estate taxes 
  • Advise about proper ways to transfer ownership between family members and between generations to cut down on estate taxes
  • Preparation of federal estate tax returns
  • Representation of taxpayers on estate tax audits

 

Useful Websites

Audit Proofing Your Tax Return http://www.unclefed.com/Audit-Proofing/index.html
Auto Tables http://www.smbiz.com/sbrl003.html#207a
Business Valuation & Discounts http://www.businessvalue.com/
Capital Gains Tax Rate Calculator http://www.moneychimp.com/features/capgain.htm
Estate Tax Estimator http://www.hughchou.org/calc/estate.cgi
Federal Rates Table http://www.smbiz.com/sbrl004.html#i2
Financial Calculators http://www.finance.cch.com/tools/calcs.asp
Home Office Deduction Calculator http://www.toolkit.com/small_business_guide/sbg.aspx?nid=P07_2740
How to Protect Yourself & Survive the IRS http://www.unclefed.com/SurviveIRS/index.html
Income Tax Estimator http://turbotax.intuit.com/tax_help/index.jhtml
Marginal Tax Rate Calculator http://www.quicken.com/taxes/investing/marginal/
Marriage & Divorce Tax http://www.smartmoney.com/divorce/
Minimum IRA Withdrawal Calculation http://www.hughchou.org/calc/irawith.cgi
Nanny Tax Calculator http://www.quicken.com/taxes/investing/nannytax/
Nonqualified Stock Option Calculator http://www.quicken.com/taxes/investing/stockoption/
Roth IRA Home Page http://rothira.com/
Roth vs. Traditional IRA Calculator http://www.hughchou.org/calc/roth2.cgi
Small Business Exclusion Percentage Test Calculator  http://www.debruyn.com/FamilyBusiness/FamBizEx_Calculator.html
Small Business Taxes & Management http://smbiz.com/
State Sales Tax Rates http://www.salestaxinstitute.com/
Tax Calculators http://1040tools.com/html/tax_calculators.htm
Tax Deduction Finder http://www.quicken.com/taxes/deductionfinder/
Tax Estimator http://turbotax.intuit.com/tax_help/index.jhtml
Time Value Software On-Line Tools http://www.timevalue.com/tcalc.aspx
Thomas (Recent & Pending Litigation) http://thomas.loc.gov/
U.S. State Sales and Use Tax Rates http://www.aicpa.org/yellow/yptstax.htm

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This website is for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship. Please contact Crockett Law Corporation at 949-851-1771 for legal services.