23Aug 2019 by Pat Geddie
Getting Divorced in 2019? Speak to a Tax Lawyer Before You Agree to an Alimony Order

Getting Divorced in 2019? Speak to a Tax Lawyer Before You Agree to an Alimony Order

Tax Law, tax return
If two spouses get divorced and have a substantial income discrepancy, they may be subject to an alimony order. Until 2019, the individual paying alimony would get a tax break, as they could deduct the payments from their taxes to lower their liability. The spouse receiving alimony would pay taxes on the funds, though that tax rate was generally much lower because of their lower tax bracket. The Tax Cuts and Jobs Act significantly changed how alimony payments are taxed, effective for divorce agreements after December 31, 2018. It is highly important to discuss the implications of an alimony order with a tax lawyer in San Francisco before you sign an agreement. Reversing Tax Benefits Under the new law, the person paying the alimony no longer gets to deduct alimony…
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12Mar 2019 by Pat Geddie
Should You Hire an Attorney for Your Business Tax Preparation in 2019?

Should You Hire an Attorney for Your Business Tax Preparation in 2019?

Uncategorized
While many tax lawyers in San Francisco can help address issues that arise after you file taxes, few will help with the actual preparation and filing of business taxes, often because most tax lawyers are not accountants. When they do, it is often at a premium cost. At SF Tax Counsel, however, we offer the services of Certified Public Accountants (CPAs) and Enrolled Agents (EAs) - and we do so at a reasonable cost for your business. We regularly handle the following for business owners: Partnership returnsCorporate returnsInternational business taxes The question that many owners have is - do you really need the assistance of a tax law firm come tax season in 2019? Business taxes are always complicated, as you want to minimize your tax liability as much as…
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