Monthly Archives: March 2017

The Combined Reporting Trap for California Real Property Holders

By Joe Haberzetle, JD, LLM Owners and managers of multiple entity businesses holding California real estate investments may be surprised to learn that laws written almost 100 years ago can have a dramatic impact on their taxes. In the 1930s, California implemented special reporting rules for multiple entity business models.  The rules, reportedly targeting the movie […]

Kiddie Tax: How Best to Report Your Child’s Unearned Taxable Income

By Brandi Fruik, CPA MST | Clark Nuber PS Our high net worth clients often want to get their children interested in finance and investing at a young age. Along with this desire comes setting up brokerage accounts, which may produce taxable income to the child. There are two different ways to report your child’s […]

IRS Dependent Classifications & When to Claim a Dependent Exemption

By Brandi Fruik, CPA MST | Clark Nuber PS One of the most common questions I receive from clients, family, and friends is about dependents – and when to claim a dependent exemption. Whether it’s parents who are still caring for adult children, or children who are caring for elderly parents, there are many situations […]

Big Changes Coming for Financial Reporting of Not-for-Profit Organizations: Part 10: Effective Date and Transition Considerations

Recap On August 18, 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-14 “Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities.” ASU 2016-14 requires a number of changes to the financial statements of NFPs.  This article is the tenth, and final, in a series discussing the changes required by ASU 2016-14. […]