There are various ways to reduce your taxable income, including a number of significant tax deductions, credits, and exclusions to look at. While there are dozens of deductions available to choose from, one that often gets overlooked is the option to reduce your capital gains (or income) taxes via the upstream basis method. This method allows you to calculate the cost basis after the sale of an investment or other capital asset. Find out more about this smart way to reduce your taxes by reading this quick guide on Upstream Basis Planning to reduce your Capital Gains Tax!
One of life’s constant frustrations is playing by the rules, doing the right thing, and watching the results of hard work threatened by someone who does not or cannot act responsibly. You can work, save and manage risk by having insurance, but all of that may seem futile if an at-fault motorist driving a vehicle crashes into your vehicle or property and causes catastrophic damage, both to property and to people. Nothing can bring back life and health when it is significantly damaged. Unfortunately, California has the highest number of uninsured drivers in the country. However, you can at least have the peace of mind to know that it will not destroy your business or estate. Attorneys can structure risk management and estate planning tools to thwart the harm of uninsured motorists as much as possible.
Unfortunately, Murphy’s law is real, and you have to shield yourself from calamity. Even with the best of intentions and your desire for universal safety, someone under your employ or care may suffer a negligent injury and perish. It happens much less nowadays, but even one event is too much. Many employees, customers, patients, and their families, in addition to the negligent party, face significant loss when a tragedy strikes.