Start-ups are to California as blades of grass are to a lawn. Chances are this analogy wasn’t on your SAT exam, but if it were, most people would probably answer correctly. When you live in California, you know someone who works (or worked) for a......01 June, 2015
Geek out and binge on IRS Code commentary, so you’ll have something to contribute to the conversation at the next party you go to when the conversation inevitably turns to the pros and cons of making a Section 754 Election to step-up the tax basis of assets in a partnership. We get it, what we do bores most people to tears, which is why you will find yourself standing alone in said party (and possibly asked to leave) if you so much as mention IRS Code Sections. Our aim in these blog posts is to provide you with a digestible amount of information so you can identify situations that can cost you ahead of time as well as identify ways to lower your tax liability. It is important to note that everybody’s situation is unique and there is always an exception to the exception to the exception when it comes to tax law. Thus, these posts should not be construed to be tax advice.