Category: Articles

Can You Talk To Your Deceased Spouse’s Bank in California? Your spouse has passed away. After the funeral you are left alone with grief and a mountain of problems. You may have to deal with mortgage payments, credit card debts, car financing and other loans. Immediate cash could be needed to pay for living expenses or obligations of the decedent. The problem is- these financial institutions won't even talk to you. Most of the time, the issue is not that you have no right to get the cash released or the loan modified; the problem is that financial institutions give strict instructions to their staff to stay quiet and unresponsive due to fears of violating the law. As a rightful heir to your spouse's assets, how can you get access…

Simple Legal Tips For A Successful Small Business. Entrepreneur's start with a dream... Financial and Personal Independence... Providing for their family... Living the American Dream... While dreams can and do come true, it's easy to miss some simple legal steps that can make the success of your business a reality and provide a solid foundation for the business as it grows. When you're starting your business, keep these five tips in mind: 1.      Don't Mingle Personal and Business Funds When you start your business, file with the Secretary of State the appropriate paperwork to lay the foundation of your corporate structure.  Forming a limited liability company or corporation will help to avoid personal liability, reduce the likelihood of tax audits and keep your personal assets from being at risk from corporate…

Forming a Business Entity – An Ounce of Prevention Can Be Worth Pounds of Cure. You've done your research, put in tons of hours developing your products or services, made key contacts, and now you're ready to launch out on your own.  But not so fast... Curb your enthusiasm for just a moment and think about the legal foundation of your business.  You may have be running your business as a sole proprietorship and waiting to set-up any formal corporate structure because it makes money sense -  avoiding initial legal start-up costs, working with an attorney, etcetera. Yet, you could be sued for any reason by a customer, employee, even a vendor. It makes great financial sense to spend a little up front to save you and your personal assets…

Compliments of Field Law, pc Written By: The American Academy of Estate Planning Attorneys If you are a member of the United States military, you likely have more important things on your mind than taxes and retirement planning. You should, however, take a moment to learn how your combat pay is treated by Uncle Sam to ensure you receive the benefits to which you are entitled for your service to your country. Military Compensation As a member of the military, your compensation is more complicated than the average civilian. The reason for this is that your pay is composed of several different components, including base pay, a housing and food allowance, bonuses, and special pay, if you qualify. To ensure your taxes are computed correctly, it is important to understand how your compensation…

Over the next several months we’re going to look at our firm’s values. At our workshops we talk a good deal about values to pass on to future generations and we even provide a book that helps you write down not only your values, but your story (if you don’t have this book or have misplaced it let us know and we’ll send you a new one). These are the values we seek to live up to as a firm: Family, Integrity, Freedom, Capitalism, and Coaching. This month we’ll take a look at: Family. Family is one of life’s most precious treasures – it’s where unconditional love, support, and security should be found. But while many people have the privilege of being raised in a nuclear family, not everyone fits…

Our firms value we will look at this month is integrity. Integrity provides powerful access to increased performance. Webster’s dictionary, defines integrity as “a state or condition of being whole, complete, unbroken, unimpaired, sound, perfect condition.” To create a life of integrity, it starts with mindful living. It's not about perfection, but being authentic to our values and beliefs. Once we become aware of the gap, we can start making changes to close it. Integrity is a concept that can seem slippery and difficult to put into practice, but it's as simple as being a person of your word and honoring your word.  Practicing integrity creates trust between people since they know that others will always act with sincerity, honesty, and honor. In everyday life, showing integrity can be as…

What will you pass on and be remembered by generations to come? If you ever go to Hollywood and Vine, just a half block from the Southeast corner stands a theatre bearing this man’s name. He overcame much adversity throughout his lifetime including racism and a crippling injury that eventually left him paralyzed from the waist down. A man whose career spanned over seven decades, on the stage, the big screen and even television where he performed a variety of genres, from crime and drama to  musicals and comedy. Among his notable roles was Armando in the Planet of the Apes film series from the early 1970s, Mr. Roarke on the TV series Fantasy Island, and Khan Noonien Singh on the original Star Trek series and the film Star Trek II: The Wrath of Khan. An Emmy Award winner for…

How does this affect me? In December of 2017, Congress passed the TAX CUTS AND JOBS ACT, which was subsequently signed into law by President Donald Trump. What most people want to know though is how does this affect me and my life? Here’s a simple breakdown of what this new law looks like overall. The TAX CUTS AND JOBS ACT will maintain the same seven-bracket structure that was in force previously. However, Congress has tweaked the rates and the income levels at which they apply. Prior to the new law, the seven tax brackets were 10 percent, 15 percent, 25 percent, 28 percent, 33 percent, 35 percent and 39.6 percent. Now, the tax code pegs the new rates at 10 percent, 12 percent, 22 percent, 24 percent, 32 percent,…

More People. More Laws. It’s finally happened. Here in California we now have officially MORE people than the entire population of the nation of Canada! Because we have more people, we also have a slew of new laws that are going into effect, some of which may have more of an impact on you and your family than others. Here are 25 of those new laws for us: Fee Increase for Deeds: Beginning January 1st of this year, there was an increase in the amount of the deeds being filed by at least $75.00 per deed for the State of California. According to SB 2, this increase is to fund California’s affordable housing crisis. Vehicle registration fee increase: As part of SB 1, drivers will pay between $25 and $175 more for vehicle…

Begin Now to Plan for Business Year-End Tax Strategies. The end of the year may seem like a lifetime away... And working on your taxes an eternity. But this is your wake-up call...it's already September. Now is the time to take stock of what you've done this year to make sure that your small business takes advantage of every possible tax break available. Here are just a few ideas to think about that could have a big payoff to help you minimize your tax liability this year: 1. Take a look at your accounting. Part of your year-end tax strategy this year, and every year, should be to take a good long look at your accounting. Get a firm grasp on the financial well-being of your business. Ensure that your books…