Defer Capital Gains using Like-Kind Exchanges

If you’re a savvy investor, you probably know that you must generally report as income any mutual fund distributions whether you reinvest them or exchange shares in one fund for shares of another. In other words, you must report and pay any capital gains tax owed.

But if real estate’s your game, did you know that it’s possible to defer capital gains by taking advantage of a tax break that allows you to swap investment property on a tax-deferred basis? Read more

We have moved!

After many years in our current location, we have outgrown our offices in Saratoga. Effective October 26th, we will be relocating to our new building a few short miles away.

Our new address is:

1475 Saratoga Avenue, Suite 100

San Jose, CA 95129

Our phone number will remain the same: (408) 252 – 1800

We are also celebrating with an Open House!

December 3rd, 2015

6:00 – 8:00pm

Stop by for a quick chat with Partners and staff and check out our new office.

Beverages and light appetizers will be served.

Identity Theft and your Taxes

Tax-related identity theft occurs when someone uses your stolen Social Security number to file a tax return claiming a fraudulent refund. It presents challenges to individuals, businesses, organizations and government agencies, including the IRS.

Learning that you are a victim of identity theft can be a stressful event and you may not be aware that someone has stolen your identity. In many cases, the IRS may be the first to let you know you’re a victim of ID theft after you try to file your taxes.

The IRS combats tax-related identity theft with a strategy of prevention, detection, and victim assistance. The IRS is making progress against this crime and it remains one of the agency’s highest priorities.

Here’s what you should know about identity theft: Read more

Tax Rules for Children with Investment Income

Children who receive investment income are subject to special tax rules that affect how parents must report a child’s investment income. Some parents can include their child’s investment income on their tax return while other children may have to file their own tax return. If a child cannot file his or her own tax return for any reason, such as age, the child’s parent or guardian is responsible for filing a return on the child’s behalf.

Here’s what you need to know about tax liability and your child’s investment income. Read more

Eight Ways Children Lower your Taxes

Got kids? They may have an impact on your tax situation. Here are eight tax credits and deductions that can help lower your tax burden. Read more