Does California have an exit tax? Not under current law, but wages, RSUs and other CA income can still be taxed after you move. See what the FTB checks.
Does California Have an Exit Tax? What Still Gets Taxed When You Move Out of California Read More »
Missed the 60-day rollover rule or an RMD due to a custodian error? A new IRS IRA correction program starts May 1, 2027. See who qualifies and what to do.
New IRS IRA Correction Program: How to Fix a Missed 60-Day Rollover or RMD Error Read More »
Deferred opportunity zone gains are taxed Dec. 31, 2026, and Opportunity Zones 2.0 starts in 2027. See what changes, California rules, and book a review.
Opportunity Zones 2.0: What the December 31, 2026 Deadline Means for Your Deferred Gains Read More »
If you held shares affected by the Scale AI Meta transaction, you may have received a large Form 1099-DIV. Here is what that cash payment means for your taxes, in plain terms. What we’re seeing with the Scale AI Meta transaction This tax season, we’ve worked through many cases involving transactions like the Scale AI
Understanding the OBBBA Changes Many high-earning individuals focus on mortgage rates when buying a house. However, few realize that tax law timing can have a six-figure impact on their real after-tax cost of ownership. The One Big Beautiful Bill Act (OBBBA), effective July 2025, introduced several key adjustments affecting homeowners and real estate investors. Consequently,
Buying a Home Before vs. After OBBBA: How the Rules Change for High-Income Individuals Read More »
Equity compensation can build real wealth. Without a tax plan, it can also bring surprise tax bills. Many people assume that selling RSUs when they vest is simple. But the timing and reporting of those sales can change how much tax you owe, even when your W-2 looks right. At Flex Tax & Consulting Group,
RSU vs ESPP: Selling RSUs or ESPP Shares Without Overpaying the IRS Read More »
For self-employed professionals and small business owners in the San Francisco Bay Area, understanding how to structure your business can significantly impact your tax liability and retirement contributions. At Flex Tax and Consulting Group, we help clients across San Francisco, Castro Valley, and the greater Bay Area make informed decisions about tax strategy, entity selection,
An earlier version of this article was written with wikiHow and featured on its website. We updated and shortened it for 2026. Before you can improve your financial health, you need to analyze your current finances. Start by tracking your spending for a month. Then look at where most of your money goes. After that,
How to Analyze Your Current Finances Read More »
An earlier version of this article was written with wikiHow and featured on its website. We updated it for 2026. If you earn a salary, you still have ways to lower your tax bill. First, you can shrink your taxable salary income with pre-tax contributions to retirement and health accounts. Then you can claim every
How to Reduce Your Taxes on Salary Income Read More »
Tax-exempt status doesn’t mean a nonprofit skips the IRS. Even an organization exempt under Section 501(c)(3) usually must file a nonprofit tax return every year. Also, a nonprofit may still owe tax on income unrelated to its exempt purpose, and it must handle payroll taxes for paid staff. Here is how to prepare a nonprofit
How to Prepare a Tax Return for a Nonprofit Read More »
If you run a business from home, you may use more than one room for work. So how many rooms can you count for the home office deduction? The short answer: there is no set number. The rule for the home office deduction Under Section 280A(c), you can claim a home office based on the
How Many Whole or Partial Rooms Can You Use for Your Home Office? Read More »
You likely formed an S corporation to save on self-employment taxes. If so, is your S corporation salary nonexistent, too low, too high or just right? Why your S corporation salary matters Getting the salary right is important, for three reasons. Taxes and penalties. If the IRS finds your salary too low, you will owe
Avoid Trouble: Don’t Let the IRS Set Your S Corporation Salary Read More »
People often use “nonprofit,” “charity” and “foundation” as if they mean the same thing. However, for tax purposes, the key difference is between a public charity and a private foundation. Both are usually nonprofits exempt under Section 501(c)(3). Still, they differ in funding, rules and tax treatment. Here is a simple guide to nonprofit vs
What Is the Difference Between a Nonprofit and a Foundation? Read More »
Selling a home in the U.S. as a nonresident alien raises two big questions. First, can you use the Section 121 home sale exclusion? Second, how does FIRPTA withholding apply? This guide answers both. What is the Section 121 exclusion? Internal Revenue Code Section 121 lets you exclude gain from selling your main home. A
Nonresident Aliens and The Section 121 Principal Resident Exclusion Read More »
One advantage of running a business as a partnership is the right to make special allocations of tax items among the partners. You get the same option if you run your business as an LLC taxed as a partnership. This guide explains how special allocations work and why they matter. What are special allocations? A
Take Advantage of Partnership Special Allocation Read More »
Marrying a non-U.S. citizen changes how you file your U.S. tax return. This guide explains your filing status options when your spouse is a nonresident alien, and the trade-offs of each. Is your foreign marriage valid for U.S. taxes? The IRS looks to state or foreign law to decide whether a marriage is valid. In
Filing Taxes When Marrying a Non-U.S. Citizen Read More »
Your 2026 year-end tax planning checklist: new charitable and SALT rules, 401(k) and IRA limits, business depreciation, and deadlines through April 2027.
2026 Year-End Tax Planning Checklist for High Earners, Business Owners & Investors Read More »
