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Qualified Small Business Stock (QSBS) – A Primer

What is Qualified Small Business Stock and Why Is It Important?  Shares of a “qualified small business” (as defined by the Internal Revenue Code) issued after August 10, 1993 are referred to as “qualified small business stock” or “QSBS”.  Provided certain requirements are met, the sale of QSBS receives favorable tax treatment. This is particularly…

AB150: What you need to know to save on taxes

On July 16, 2021, Governor Gavin Newsom signed Assembly Bill 150 into law. This bill enables certain California taxpayers to write off more than the $10,000 limit placed on state and local tax (SALT) deductions — but it’s not automatic, you need to know what to do to get this relief. BRIEF HISTORY OF SALT…

How Step-Up in Basis Works

The concept of step-up in basis is a staple in estate planning.  Planning decisions must take this concept into account, as the potential benefits of preserving step-up in basis for your heirs is tremendous. The step-up in basis is a method around paying capital gains taxes, which is a form of income tax. Generally, if…

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