Taxes

When you receive a settlement or award from a personal injury claim, navigating the tax implications in California can be as complex as the case itself. It's crucial to understand which parts of your compensation may be taxable. The Internal Revenue Service (IRS) sets...

What is the STEP Act? Several United States Senators, including Bernie Sanders and Elizabeth Warren, have proposed a bill, called the Sensible Taxation and Equity Promoted (STEP) Act.    What Does the STEP Act Do? STEP Act would allow individuals to exclude up to $1 million in unrealized capital gains from tax, which are the potential profits from an asset, as…

What is the American Rescue Plan Act of 2021?  This bill was passed on March 6, 2021 and provides relief to address the continued impact COVID-19 has had on the economy, public health, individuals, and businesses. What will the American Rescue Plan Act Provide? The American Rescue Plan Act of 2021 will provide funding for individuals and entities, including but not…