Blog


2020 Last-Minute Vehicle Purchases to Save on Taxes

Here’s an easy question: Do you need more 2020 Tax Deductions? If yes, please read on. Next easy question: Do you need a replacement Business Vehicle? If yes, you can simultaneously solve or mitigate both the first challenge (needing more deductions) and the second challenge (needing a replacement vehicle), but you need to be using your vehicle and have it in service on or before December 31, 2020. To ensure compliance with the “Placed in Service” rule, drive the vehicle at least one business mile on or before December 31, 2020. In other words, you want ...

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The Best Way to Reduce Your 2020 Income Taxes is with Year-End Tax Planning

We can demonstrate there is water but if they are neither thirsty nor self-reliant then they will die of thirst while surrounded by abundant lakes, streams, rivers, and aquifers. - Daniel Morris It’s almost the end of 2020. A tumultuous year that will soon (we all hope) be in our rearview mirror… but not so fast. It’s mid-November and that means some last-minute planning and strategizing is in order; especially with what we deem a clearer path to what some U.S. Tax outcomes may be. Taxation in the USA is a delicate balance of social policy, fantasy ...

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Election 2020: The U. S. Elections are over. Now what?

After-Tax Cash Flow, Donald Trump, Election 2020, Joe Biden, Opportunity Zones, Taxation, U.S. Election, U.S. Taxes, Wealth Preservation, Year End 2020
Currently, in Our Undulating World of Taxation, Now is the Time to Focus on the Ball and Be Nimble. Hopefully, you’ve exercised your choice to vote by now and now we have some things to consider about our Taxes moving forward… depending on who is our next U.S. President. Our two candidates are so divergent on their Tax Policies that many of our Customers are reaching out to us asking about what to do. On the premise of these candidates’ divergent U.S. Tax perspectives, “Accounting Today” published an article that provides an insight into what other ...

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U.S. Democratic Presidential Nominee Tax Proposals

Biden Tax Plan, Business Income Deduction, Capital Gains Tax Rates –, Democratic Tax Proposals, High Annual Incomes, Joe Biden, Personal Income Tax Rates, Tax Proposals, U.S. Tax Code
On August 20, former United States Vice President Joe Biden formally accepted the Democratic nomination for US President.  However, questions about Biden’s tax proposals, such as when and how fast he would push for tax hikes, remain to be clarified heading into the fall campaign. Complicating matters, the US has recently spent trillions of dollars in response to the consequences resulting from the coronavirus pandemic, and the US is likely to spend trillions more.  Someone has to bear the cost of all this spending and increased taxes appear to be the answer. B...

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The Upside of Today

COVID-19 Pandemic, Family Office, Grantor Retained Annuity Trust, GRAT, High Net Worth Families, Wealth Management, Wealth Preservation, Wealth Protection
"The Problem is We Keep Making the Same Mistakes" - Yogi Berra Amongst the doom, gloom, and sequestering during our current COVID-19 pandemic are vast opportunities. Our collective “Family Office” perspective for Ultra-High-Net-Worth families must consider how best to rearrange holdings and allocations given our disrupted world order. In startup terms, it is time to pivot. Profits are a function of risk. Value is derived from aligning affordable risk with a proper time horizon. Great business models fail if operated too long or for too short. Families ride with ...

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Encouraged by CBD Business Opportunities; Five Regulatory Cautions

Cannabis, Cannabis Business Opportunities, CBD, Legal Cannabis, Morris + D’Angelo, Regulatory
It has become increasingly difficult to ignore the increasing amount of media and press coverage of the growing cannabis (CBD) business opportunities in the market today. CBD, a nonintoxicating compound found in cannabis, is everywhere we look. Coffee shops across the country offer “calming” CBD infusions for your morning cappuccino. Boutique makeup brands are churning out CBD moisturizers, claiming the compound’s anti-inflammatory properties. As of October 2018, 46 states have passed some kind of CBD legalization. In June the Food and Drug Administration ...

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What does helping people in Guatemala have to do with accounting in Portland, Oregon?

Morris + D’Angelo, Guatemala, Portland Oregon, Brian Dazey, Central America, Marketing, High-Wealth Customers
What does helping people in Guatemala have to do with accounting in Portland, Oregon? The answer is NOTHING! So, why would my employer Morris + D’Angelo support my traveling to Guatemala? When I was hired by Morris + D’Angelo in San Jose to open and expand their office in Portland Oregon, I expected to have a “typical” retail space someplace where potential customers could come and get advice and counsel about their taxes. However, that’s not typically all we do at Morris + D’Angelo. While it’s true, we help our customers solve their specific tax ...

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CalCPA 2015 Honoree Keynote Address

Note:  -  This past Thursday, I had the pleasure of sharing a brief commentary during the annual CalCPA Silicon Valley/San Jose Chapter's Honoree and Scholarship Dinner.  In attendance were the Past-Presidents of the Chapter (my year was 2002-2003), Several area university scholarship winners (each was very impressive, probably why the Big 4 have already hired them), along with their professors and family.  Also in attendance were CalCPA Members that have reached their 40 year mark and hence no longer pay dues (lucky them).  Finally, our Chapter awards a Lifetime ...

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