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Members of the “sandwich generation” face unique estate planning circumstances

May 2nd, 2025 Jasmeet Janday Uncategorized

Members of the sandwich generation — those who find themselves simultaneously caring for aging parents while supporting their own children — face unique financial and emotional pressures. One critical yet often overlooked task amid this juggling act is estate planning.

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Turn a summer job into tax savings: Hire your child and reap the rewards

April 18th, 2025 Jasmeet Janday Uncategorized

With summer fast approaching, you might be considering hiring young people at your small business. If your children are also looking to earn some extra money, why not put them on the payroll? This move can help you save on family income and payroll taxes, making it a win-win situation for everyone!

Here are three tax benefits.

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Discover if you qualify for “head of household” tax filing status

April 11th, 2025 Jasmeet Janday Uncategorized

When we prepare your tax return, we’ll check one of the following filing statuses: single, married filing jointly, married filing separately, head of household or qualifying widow(er). Only some people are eligible to file a return as a head of household.

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Stepped-up basis rules can ease the income tax bite of an inheritance

April 5th, 2025 Jasmeet Janday Uncategorized

With the federal gift and estate tax exemption amount set at $13.99 million for 2025, most people won’t be liable for these taxes. However, capital gains tax on inherited assets may cause an unwelcome tax bite.

The good news is that the stepped-up basis rules can significantly reduce capital gains tax for family members who inherit your assets.

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6 essential tips for small business payroll tax compliance

March 28th, 2025 Jasmeet Janday Uncategorized

Staying compliant with payroll tax laws is crucial for small businesses. Mistakes can lead to fines, strained employee relationships and even legal consequences. Below are six quick tips to help you stay on track.

1. Maintain organized records

Accurate recordkeeping is the backbone of payroll tax compliance.

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Riding the tax break train: Maximizing employee transportation fringe benefits

March 22nd, 2025 Jasmeet Janday Uncategorized

There are some nice tax breaks for transportation-related employee fringe benefits. If your employer offers these tax-favored fringes, you should probably take advantage of them by signing up. Here’s a quick summary of the current federal tax treatment of transportation-related benefits.

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What happens if you and your siblings inherit your parents’ home?

March 15th, 2025 Jasmeet Janday Uncategorized

When estate planning, it’s common for parents to leave their primary residence or a vacation home to their children. While your parents’ wills or trusts may specify who gets what percentage of the home, typically, you and your siblings will receive equal shares in the property.

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How a business owner’s home office can result in tax deductions

March 7th, 2025 Jasmeet Janday Uncategorized

As a business owner, you may be eligible to claim home office tax deductions that will reduce your taxable income. However, it’s crucial to understand the IRS rules to ensure compliance and avoid potential IRS audit risks. There are two methods for claiming this tax break: the actual expense method and the simplified method.

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Financial relief for families: The benefits of the Child Tax Credit

March 1st, 2025 Jasmeet Janday Uncategorized

The Child Tax Credit (CTC) has long been a valuable tax break for families with qualifying children. Whether you’re new to claiming the credit or you’ve benefited from it for years, it’s crucial to stay current on its rules and potential changes.

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Charitably inclined? Pair a donor-advised fund with your estate plan

February 22nd, 2025 Jasmeet Janday Uncategorized

Your estate plan is the perfect place to make charitable gifts if you’re a charitably inclined individual. One vehicle to consider using is a donor-advised fund (DAF).

What’s the main attraction? Among other benefits, a DAF allows you to set aside funds for charitable giving while you’re alive, and you (or your heirs) can direct donations over time.

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Recent Posts

  • Members of the “sandwich generation” face unique estate planning circumstances
  • Turn a summer job into tax savings: Hire your child and reap the rewards
  • Discover if you qualify for “head of household” tax filing status
  • Stepped-up basis rules can ease the income tax bite of an inheritance
  • 6 essential tips for small business payroll tax compliance

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1180 Iron Point Rd.
Suite 160

Folsom, CA 95630
Phone: 916-496-9149
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