Tax Law News and Insights

n 2017, Congress passed the Tax Cuts and Jobs Act, which—among other things—placed a $10,000 annual limit on state and local tax (SALT) deductions for federal income tax purposes. In response, most states with a state income tax have passed a version of a PTET to allow SALT payments to...

Read More

California has more than 20% of the nation's entire housing market when measured by value, according to Zillow. Given the high value of the state's real estate portfolio, it is no surprise that California has regularly been a forerunner in emerging tax policies. Recently, many California cities, including flagship markets in...

Read More

Under federal tax law, there are significant differences between grantor and non-grantor trusts. Grantor trusts are treated as disregarded entities. In layman's terms, this means that the grantor (i.e., the creator or the settlor) and the grantor trust are one and the same. Accordingly, if the trust generates income, that income is...

Read More