by Evan Ferini | Dec 1, 2024 | Business
When it comes to obtaining and maintaining tax-exempt status under the Internal Revenue Code (“IRC”) 501(c)(3), organizations face a complex set of rules. One of the most critical yet often misunderstood requirements is the prohibition against serving “private...
by Evan Ferini | Jun 1, 2024 | Business
To prevent illicit actors from using shell companies to facilitate illicit activities such as money laundering, financing terrorism, human and drug trafficking, and securities fraud, the U.S. Congress imposed new requirements under the Corporate Transparency Act...
by Evan Ferini | Nov 21, 2023 | Agriculture Law, Estate Planning, Real Estate Law
PROPOSITION 13 REASSESSMENTS ON PROPERTIES HELD IN LEGAL ENTITIES Today, many people are generally aware of California’s Proposition 13, and its limitations on property taxes. Also, many people today choose to own real estate inside of a legal entity for the personal...
by Evan Ferini | Jun 1, 2023 | Estate Planning
COST BASIS RULES: JOINT TENANCY When someone inherits an asset, it can be difficult to understand what their potential tax liability will be, especially if they already owned an interest in that asset. In this article, we are going to discuss what California...
by Evan Ferini | Dec 1, 2022 | Business
The most fundamental benefit of limited liability entities is that their owners are rarely held liable for the entity’s actions. In other words, owners of limited liability entities are not personally liable for their company’s debts and obligations. The most common...
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