Small Business

by Daniel Scott, Forbes

July 26, 2018 Link to Original Article 

Estate planning is dead. Gone are the days of creating legal structures to hold your assets, pass your fortune on to the next generation and, of course, avoid paying estate taxes. Gone are the days of planning for your death. It’s time to plan for your life.

Understanding the Probate process emphasizes that proper estate planning is vital!  This week, we give you an introduction to Probate, what it is and what it entails.  

 Aretha Franklin's recent passing brought to light another celebrity estate lacking the proper protection planning to avoid probate.  We have provided a reminder checklist to prevent this from happening to you and your family.     

by Kathleen Pender, San Francisco Chronicle

August 25, 2018  Link to Original Article

People who own just one or two rental properties might not qualify for the new 20 percent federal deduction that big-time real estate investors and other pass-through entities will get starting this year.

The federal tax law passed in December lets many pass-through entities such as partnerships and sole proprietorships deduct 20 percent of their “qualified business income,” with some limits.
Read more . . .

by Marcy Gordon, Associated Press

August 10, 2018, USA Today

WASHINGTON — Architects and engineers are still in. Accountants, doctors and lawyers remain out — mostly. New rules floated by the Trump administration lay out what kinds of businesses can take a 20 percent deduction against income taxes under the new tax law.