Business, Free News Articles, Real Estate, Taxes and Accounting

Proposed Legislation Would Make the 45L and 179D Energy Efficiency Tax Incentives More Lucrative

BLAINE, Minn. -- The 'Growing Renewable Energy and Efficiency Now' (GREEN) Act aims to extend and boost tax incentives for energy efficiency and renewable energy. According to Alex Bagne, the President of ICS Tax, LLC, "If passed, the GREEN Act would make both the 45L Energy Efficient Home Credit (45L Credit) and the 179D Energy Efficient Commercial Building Deduction (179D Deduction) more advantageous while furthering the green missions of these incentives."

THE 45L ENERGY EFFICIENT HOME CREDIT

Currently, the 45L Credit allows eligible developers to claim a $2,000 tax credit for each newly constructed or substantially reconstructed qualifying residence. It applies to single family homes, apartments, condominiums, assisted living homes, student housing, and other types of residences. The residences must be three stories above grade in height or less. The 45L Credit requires a HERS Rater, a credentialed professional who tests residential energy efficiency, to inspect the home, perform energy modeling and prepare certificates of compliance. The 45L Credit is set to expire at the end of 2021.

The GREEN Act would increase the 45L Credit from $2,000 to $2,500 per residential unit. It also seeks to extend the incentive to 2026, as it is set to expire in 2021. The energy efficiency standards would increase, going from a 50% to 60% savings over the IRS baseline.

"Many homebuilders are unaware that their homes as built qualify for this incentive," says Travis Cansler, a 45L specialist at ICS.

Steve Samos, a HERS Rater and the Director of Inspections for ICS, adds "For homes that do not pass, builders can often make design changes to get them to qualify where the additional costs are more than offset by the credit."

THE 179D ENERGY EFFICIENT COMMERCIAL BUILDING DEDUCTION

The 179D Deduction, often referred to as the EPAct Deduction, is a Federal tax incentive promoting energy efficient buildings for both new and existing structures. Further, architects, engineers, contractors, and other building design professionals may also be eligible for the incentive on public projects. Commercial building owners can take a Federal tax deduction of up to $1.80 per square foot of the building's floor area if they install certain property (e.g., efficient lights or HVAC systems, added wall or roof insulation, etc.) that reduces energy and power costs. The 179D Deduction, which applies to both new construction and renovations, was recently made permanent by the 'Consolidated Appropriations Act, 2021.' However, that Act significantly increased the energy efficiency standards needed to qualify.

For the 179D Deduction, the GREEN Act would raise the maximum amount of the deduction from $1.80 to $3.00 per square foot for improvements made after December 31, 2021. It would also lower the threshold needed to qualify for the maximum deduction. The current standard compares the building to the ASHRAE standard that was in existence 2 years prior to the start of construction and requires a hypothetical 50% reduction in energy and power costs. The GREEN Act would lower those standards to 30%.

"By making these changes, the 179D Deduction will be more beneficial and further incentivize green building design," says Jillian Jones, a 179D Deduction specialist at ICS Tax.

ABOUT ICS TAX, LLC:

ICS Tax, LLC (ICS) is a consulting firm providing innovative tax planning strategies and specializes in both the 45L and 179D tax incentives. ICS collaborates with taxpayers and their tax professionals to identify credits and incentives that reduce tax liabilities and increase profitability. ICS provides nationwide service through its offices located throughout the country.

Learn more at https://ics-tax.com/.

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MEDIA CONTACT:
Alexander Bagne
ICS Tax
alexb@ics-tax.com
216-870-0742

Related link: https://ics-tax.com/

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Business, Free News Articles, Restaurant, Hotel and Hospitality, Taxes and Accounting

Newly-Passed Restaurant Revitalization Fund and Restaurant Tax Relief Strategies by Ace Plus Tax Resolution

LOS ANGELES, Calif. -- James Cha, a CPA and a Certified Tax Resolution Specialist from Ace Plus Tax Resolution, underlines the newly enacted restaurant revitalization fund, recent tax challenges the restaurant industry is facing, and tax relief strategies.

Restaurant Revitalization Fund and Grants

Along with small and medium enterprises, the restaurant industry has also been severely impacted by the pandemic. However, the governments have been trying to ensure that tax reliefs are provided to help the restaurant industry. This has been effectively encapsulated in the Restaurant Revitalization Act signed on March 11. Certified Tax Resolution Specialist James from Ace Plus Tax Resolution recommends that "restaurant owners that are financially struggling must strategize and receive the full benefit of the Restaurant Revitalization Fund."

$5 billion of the fund will be available to eligible restaurants with gross receipts during 2019 of $500,000 or less.

In addition, the crux of this particular tax relief regime provides grants to restaurant applicants of up to $10 million. This is mainly to compensate them for the pandemic-related revenue loss. In this aspect, all restaurants are declared as eligible for the program, with some exceptions, like restaurants that are operated by a state or a local government or are owned by a publicly-traded company. However, it is to be noted that the grant that would be awarded to the entity is not supposed to exceed an aggregate of $10 million and should be limited to $5 million per physical location.

The grant amount will be based on the pandemic-related revenue loss. If the entity was in business for 2019, either entirely or partially, the loss is calculated as the 2020 average monthly gross receipts multiplied by 12, subtracted from 2019 average monthly gross receipts multiplied by 12. A different calculation method is to be applied if the business newly opened anytime between January 1, 2020, and the enactment date of the bill, March 11, 2021. The grant will be reduced by the 7(a) SBA loans received, including PPP loans.

Under this particular act, there are certain expenses that are eligible for restaurants. They mainly include payroll costs, paid sick leaves, mortgage, rent and utilities, maintenance, supplies, food and beverage expenses, operational expenses, and any other expenses SBA deemed essential. In the same manner, the grant is supposed to be used for expenses that fall within the covered period between February 15, 2020, and December 31, 2021.

Taxability

Restaurant Revitalization Grants that are received are not subject to income tax. In the same manner, the exclusion will not result in the denial of a deduction reduction of tax attributes or a denial of increase in basis. This implies that these businesses are not supposed to include the grant amount as a gross income in the tax return.

Tax Problems for Restaurant Owners

James denotes, "Restaurant Revitalization Grant has been a much-needed life support for the troubled industry. Followed by the pandemic, the restaurant industry was perhaps the most impacted by lockdowns, with the ongoing burden of having to remit tax payments. Payroll taxes, for one, continue to be a pressing cause of concern for the restaurant industry".

When their business struggles, restaurant owners are tempted to use these funds to cover the business expenses. The IRS takes late payroll tax payments very seriously because it wasn't the business owners' money to begin with. If the IRS thinks that if an individual was responsible for filing or paying taxes but did not, then he or she becomes liable for the unpaid taxes.

Business owners must realize that the IRS has the power to close their business, come after the owner personally by asserting Trust Fund Recovery Penalty, levy bank accounts, or seize income sources and properties in an attempt to collect back taxes. Also, their passport may be revoked or declined to issue or renew by the U.S. Department of State.

Tax Reliefs for the Restaurant Industry

In the case where the business is approached by the IRS for back taxes, the best possible course of action might be to adopt an approach to tactfully deal with the issue, without panicking.

James believes "The best course of action is to see if they qualify for any tax relief options." However, this can only be done after delinquent tax returns have been filed and all current income tax and payroll tax deposits have been paid.

Businesses or individuals can settle their taxes for substantially less than they owe through an Offer in Compromise if they qualify. Financial inability to pay is the most common reason an Offer is accepted, but it must be supported by and verified with well-prepared financial documents and statements.

Or, through an Installment Agreement, businesses or individuals may set up an affordable payment plan to pay off the back taxes. If they qualify for a "Partial Payment" Installment, they will not be paying off the full amount, as the balance left at the end of the payment term will be forgiven. Strategizing is crucial when submitting an application in order to maximize the benefit.

Also, they may be able to halt IRS collection actions by declaring a Currently Not Collectible status. To qualify for this status, they must prove they have a dire financial situation and none to very little income. The IRS will put a pause on their attempt to collect payment until the financial situation improves.

The Final Words

The current day and age are quite challenging for almost all business owners. In this regard, it is imperative for businesses to be fully aware of all the taxes that they owe, as well as the options that are available to them. There are numerous tax relief options that are put forth by the government, but business owners should seek a certified tax relief specialist to clearly understand their options and eligibility, so that they can strategize, take full advantage, and save considerable sums of money as taxpayers.

Ace Plus Tax Resolution provides permanent solutions to taxpayers with IRS and state tax problems to individuals and businesses struggling with unmanageable IRS tax problems. If you're struggling with payroll tax problems, contact their tax professionals for a free consultation.

Learn more at - https://AcePlusTaxResolution.com

James Cha is a CPA and Certified Tax Resolution Specialist(r) at Ace Plus Tax Resolution, has been representing his clients and dealing with the IRS for over 30 years. His practice is in Los Angeles, but his clients are across the nation. Contact him at (213) 600-7388 or James@AcePlusTaxResolution.com.

Watch our video about how to resolve your payroll tax problems: https://youtu.be/Xw4mjLKoWKI

Related link: https://AcePlusTaxResolution.com/

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Business, Free News Articles, Real Estate, Taxes and Accounting

Commercial Loan Corp – Offering Free ‘Property Tax Savings Estimate & Consultation’ for Beneficiaries Inheriting a Home – Keeping Parent’s Low Property Tax Base

NEWPORT BEACH, Calif. -- Now that limitations and changes to CA Proposition 58 property tax breaks became active Feb 16, 2021 due to Proposition 19 - popular estate & trust lender Commercial Loan Corp in Newport Beach is offering heirs and beneficiaries inheriting a home from parents a Free Consultation & Estimate of Property Tax Savings - to keep their parent's low property tax base.

This Free Consultation for Property Tax Savings helps evaluate the benefit of a loan to an Irrevocable Trust, specifically for beneficiaries who want to keep inherited property at their parents' low property tax rate - avoiding current market reassessment. This often involves a fast buyout of siblings looking to sell their share of the same inherited property.

Families, beneficiaries, or their attorneys, who want to take advantage of Commercial Loan Corp's Free Consultation for Property Tax Savings are calling the firm's main office at 1-877-464-1066. The firm assists families and beneficiaries by helping them avoid property tax reassessment, and determines how much a family can expect to save in property taxes (on average saving more than $6,000 per year); as well as weighing costs and benefits of a trust loan working alongside Proposition 58 - enabling a buyout of inherited property from co-beneficiaries, while keeping a parent's low property tax base. Considered to be one of California's premier trust lenders, the firm works for families alongside their attorney, accountant or property tax consultant, as many families attest to.

Tanis Alonso, Senior Account Manager with Commercial Loan Corp, describes the firm's estate & trust lending service: "We don't view each trust loan scenario as simply a 'financial transaction.' Nor do we see the home they've lived in for decades as just a 'piece of real estate'. To us, this a 'piece of family history' in the making. And the process a 'family decision', not a 'transaction'. We see our clients as real families that we're assisting, financially and emotionally, not just as clients signing a contract for a trust loan. We enjoy helping people... getting them money when they really need it - and saving them on the cost side in the bargain, with a trust loan."

Ms. Alonso also elaborates on the firm's process: "Besides lowering property taxes the key issue for families is selling, versus keeping, inherited property. By someone keeping the family property, everyone receives more money than if they were to sell the property to an outside buyer. When taking into account realtor and transaction costs of approximately 6.5%, the average trust receives $45,716 more to distribute by using a trust loan to keep property, than if they were to sell the property. Each beneficiary on average is receiving $16,652 more from someone keeping the property, instead of selling it. And the average overall annual property tax savings is $6,043."

Commercial Loan Corp originates loans to trusts, and estates in probate, and helps to maximize the distribution of funds to a trust or estate; allowing beneficiaries to buyout inherited property from co-beneficiaries. When providing mortgages to trusts or estates in probate, the firm helps clients to avoid the re-evaluation of property at current tax-rates - enabling families to retain a parent's low Proposition 13 tax base - by obtaining a Parent-to-Child Exclusion, saving a good deal of money on yearly property taxes.

To get a Free Consultation for Property Tax Savings to establish a permanent, low property tax base; or to receive a trust loan to buyout co-beneficiaries' property shares, and learn more about keeping parents' low property tax base when inheriting family property - California homeowners and beneficiaries can call Commercial Loan Corp at 1-877-464-1066.

Commercial Loan Corporation

Main office: 1-877-464-1066

Mobile texting: 1-917-544-0551

Website: https://cloanc.com

Blog: https://propertytaxnews.org

Facebook: https://www.facebook.com/CommercialLoanCorp

PR Media Communications: G Sadwith geoffreysf1@gmail.com

Related link: https://cloanc.com/

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Business, Free News Articles, Taxes and Accounting

Brew Up Tax Savings with the R&D Tax Credit

BOSTON, Mass. -- While the trendy term "Microbrewery" may have been the proper terminology for new craft beer breweries and startups, they no longer remain "micro" in revenue, says ICS Tax, LLC (ICS). Growth in the craft beer industry in the U.S. has steadily grown to almost $30 billion.

While brewing up signature styles of beer is key to their creators' minds, the Research & Development (R&D) Tax Credit can save the craft brewing industry significant tax dollars and make brewers say, "Hop Hop Hooray."

The R&D Tax Credit has been an underutilized dollar-for-dollar cash savings in the brewery and beverage industry altogether. With the R&D tax credit being made permanent and the qualifications of R&D more expansive, the credit has become more valuable and lucrative for a small brewery or startup. A misnomer is that a company must be successful or is developing something new for the "world," whereas the activity only needs to be new or improved to the brewery itself.

The R&D Tax Credit can turn skunky brews into sweet aromatic tax savings.

"Ask yourself, while you may be known for your signature pale ale, have you been working on brewing up the latest lager to captivate the increasing market? Have you adapted your formulas for changing connoisseurs?" says Lacey Robb, the R&D credit practice leader at ICS.

She adds, "It is uncommon that your brewery has not made any improvements to the product, technology, or internal processes to grow and maintain success. Internal process improvements are often overlooked and provide valuable savings to the industry."

The benefits that the R&D Tax Credit can provide the brewing industry will not leave you with a hangover, but hopped up for exciting permanent tax savings.

A few examples of activities that would qualify for the R&D Tax Credit are:

* Developing new bottle conditioning

* Generating new or improved manufacturing processes to improve manufacturing flexibility and agility

* Establishing new or improved hopping techniques and styles

* Creating or improving filtration methodologies or wastewater methods

* Developing new or improved product formulations or recipes (e.g., dry hopping)

* Conducting tests of product ingredient mixtures for desired flavor or aroma profiles

* Developing new or improved quality assurance testing processes

* Producing prototype product samples for testing and validation of new recipe formulations

* Testing prototype samples for analytical and microbiological qualities.

While all the above sounds too good to be true, many breweries may be thinking, "how does this help us when due to the pandemic, we do not have a profit?" The R&D credit was enhanced for small business startups in 2016 and can be applied against your quarterly federal payroll tax instead of your income tax.

Do not let this opportunity go stale. Now may be the time more than ever to explore this power tax savings. To learn more about the R&D tax credit, visit https://ics-tax.com/services/research-development-tax-credits/.

ABOUT LACEY ROBB:

Lacey Robb is Principal for ICS Tax, LLC. She is an attorney with an LLM in Taxation and has helped numerous taxpayers in a variety of industries take the R&D tax credit. She can be reached by phone at 310-968-0970 or by email at laceyr@ics-tax.com.

ABOUT ICS TAX, LLC (ICS):

ICS Tax, LLC (ICS) is a consulting firm providing innovative tax planning strategies. ICS collaborates with taxpayers and their tax professionals to identify credits and incentives that reduce tax liabilities and increase profitability. ICS provides nationwide service through its offices located throughout the country.

Learn more at https://ics-tax.com/.

Related link: https://ics-tax.com/

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Business, Free News Articles, Taxes and Accounting

KBKG Welcomes Two New Directors to Atlanta-Based Operation

ATLANTA, Ga. -- Nationwide tax specialty firm KBKG hired two new Directors, Amar Patel and Ian Williams, as part of their Southeast practice. Both Directors join KBKG with over 25 years of combined experience in Cost Segregation and Research & Development Tax Credits, two key services offered by the firm to CPAs and businesses.

As Director of Cost Segregation, Amar has become an expert in cost segregation and large fixed asset depreciation reviews for purposes of identifying Federal, State, and Property Tax benefits. Prior to joining KBKG, Amar spent 14 years at a Big Four firm focused on various specialty tax products, including Cost Recovery Solutions and Research & Development Tax Credits, serving corporate clients and partnerships in a variety of industries, including: retail, restaurant, manufacturing, healthcare, construction, and telecommunications.

As Director of Research & Development Tax Credits, Ian Williams brings extensive experience in the software, heavy manufacturing, aerospace, automotive, and consumer products industries to the KBKG team. Ian is also well versed in defending credit claims with the IRS. Prior to joining KBKG, Ian spent 11 years at a Big Four firm specializing in R&D Tax Credits and Fixed Asset studies.

"We are pleased to have Amar and Ian as part of the team. Their knowledge and experience in Cost Segregation, Fixed Assets, and R&D Tax Credits are of great use to the firm and its success. The addition of our new directors will support the growth this market is currently experiencing, allowing KBKG to serve more Southeastern clients," said Jonathan Tucker, KBKG R&D Tax Credits Principal and leader of the Southeast practice.

ABOUT KBKG

Established in 1999 with offices across the US, KBKG provides turn-key tax solutions, including research and development tax credits, cost segregation, green building tax incentives, transfer pricing, and more to CPAs and businesses nationwide. KBKG has offices located in Los Angeles, Chicago, Atlanta, New York City, and Dallas-Fort Worth.

For more information on KBKG, please visit: https://www.kbkg.com/

Related link: https://www.kbkg.com/

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Business, Free News Articles, Taxes and Accounting

KBKG Welcomes Three New Principals to Their Cost Segregation and Research & Development Tax Credit Services

PASADENA, Calif. -- Nationwide tax specialty firm KBKG promoted Eddie Price to Principal of Cost Segregation Services, as well as Paul McVoy and Jonathan Tucker to Principals of Research & Development Tax Credit Services.

Eddie Price leads KBKG's Cost Segregation practice and oversees KBKG's Southern region and its Texas-based operations. He is a Certified Cost Segregation Professional (CCSP) with the American Society of Cost Segregation Professionals (ASCSP). With over 35 years of cost segregation experience dating back to the Investment Tax Credit period, Eddie is one of the most experienced experts in the industry.

KBKG Cost Segregation Principal Malik Javed congratulates, "Eddie always goes above and beyond in leading our Cost Segregation practice in the South. This promotion is very well-deserved!"

Paul McVoy operates out of KBKG's New York office in its Research & Development Tax Services department. He devotes his time to consulting companies in maximizing their research & development tax credit claims. Paul has spent more than 15 years in public accounting leveraging previous tax compliance and tax provision work experience to provide focused and thoughtful advice regarding the research and experimentation activities of his clients.

Jonathan (Jon) Tucker serves as KBKG's Southeast region leader out of its Atlanta, Georgia office. He is a CPA and has over 16 years of experience providing federal business tax advisory services to clients. Having worked in public accounting for 15 years, Jon has served clients in all industries, including technology, manufacturing), transportation, healthcare, retail, and consumer products, hospitality, media and entertainment, financial, and other professional services industries.

"Paul and Jon have done an amazing job leading our R&D practice in the Northeast and Southeast markets and nationally. Their dedication to the firm and their drive to create a special group is at the heart of their success. I look forward to watching them continue to grow and create additional opportunities for others," said Kevin Zolriasatain, KBKG Principal of Research & Development Tax Services.

About KBKG

Established in 1999 with offices across the US, KBKG provides turn-key tax solutions, including research and development tax credits, cost segregation, and green building tax incentives, and more to CPAs and businesses nationwide. KBKG has office locations nationwide in California, Chicago, Atlanta, New York, and Dallas-Fort Worth.

For more information about KBKG, please visit https://www.kbkg.com/.

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*Caption: Pictured (left to right): Eddie Price, CCSP; Paul McVoy; Jonathan Tucker

Related link: https://www.kbkg.com/

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Business, Free News Articles, Taxes and Accounting

Los Angeles Based CPA Firm Announces New Principal, Stacey R. Korman, CPA, MST

PASADENA, Calif. -- KROST CPAs and Consultants, the Los Angeles based firm, has announced a new Principal, Stacey R. Korman, CPA, MST. Stacey has extensive experience in assurance & advisory and accounting services and since joining the firm she has led the accounting and audit departments.

As an AICPA certified Fundamental Client Accounting Advisor, Stacey leads KROST's Client Accounting Service (CAS) division. CAS not only provides customizable accounting services for each client based on their specific situation and needs, but goes beyond business management or outsourced accounting by providing proactive insights and data analytics. This advisory methodology ensures clients' accounting needs are predicted and exceeded as their business evolves and grows.

In addition to CAS, Stacey has developed the firm's Paycheck Protection Program Loans Forgiveness team in partnership with Paren Knadjian, Practice Leader, M&A and Capital Markets and Sossi Bekarian, CPA, Senior Manager, Accounting. Since April 2020, the team has developed a proprietary budgeting and forgiveness maximization tool, hosted numerous webinars, and published a wealth of thought leadership on the subject. To date, KROST has assisted hundreds of businesses through the emergency loan program from the application process to loan forgiveness.

Stacey is expertly versed in working with clientele from a wide range of industries, including management companies, real estate, technology, foodservice, and not-for-profits. She provides consulting and cash management services to high net worth individuals, management companies, and small businesses. She is also an integral member of the Sports & Entertainment and Financial Services industry groups.

"Stacey is an outstanding member of our firm, and we are proud to welcome her as a principal as it is well deserved. She is a trusted consultant to our clients, mentor to staff, and technical leader who has elevated the work we do. Her industry expertise and breadth of knowledge is a tremendous value to us and those we serve," said Jason Melillo, Senior Principal at KROST.

ABOUT KROST CPAS & CONSULTANTS

Established in 1939 in Pasadena, California, KROST is a full-service certified public accounting and consulting firm serving clients across various industries in the areas of tax, accounting, consulting, assurance and advisory, M&A and capital markets, corporate tax incentives, and wealth management.

For more information about KROST, please visit: https://www.krostcpas.com/.

MEDIA ONLY CONTACT
Diana Vu
Marketing Coordinaor, KROST
(626) 773-8282 (media only)
diana.vu@krostcpas.com

Related link: https://www.krostcpas.com/

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Business, Free News Articles, Taxes and Accounting

CA Property Tax Laws Change in 13 Days: To Help Heirs Now Inheriting Property to Preserve Low Property Tax Base – Commercial Loan Corp Offers Free Benefit Analysis

NEWPORT BEACH, Calif. -- With only 13 days left before California Proposition 58 property tax breaks undergo changes and limitations imposed by new tax measure Proposition 19, on Feb. 16, 2021 - popular trust lender Commercial Loan Corporation is offering Heirs of Estates and Trust Beneficiaries, who are inheriting a home from parents, a free benefit analysis.

Californians who want to keep their parents' low property taxes, can call 877-464-1066 or visit online for a free Cost Benefit Analysis & Evaluation. Commercial Loan Corp assists families and beneficiaries by taking advantage of Proposition 58 and its' "Parent-to-Child Exclusion" or "Exemption" - avoiding property tax reassessment, and determining how much beneficiaries and homeowners can expect to save in property taxes (on average saving $6,000 or more per year).

The free Cost Benefit Analysis shows families what their options are, in terms of keeping an inherited home at a low property tax base, buying out co-beneficiaries, or selling inherited property shares through a trust loan... and compares costs as well as benefits of such a loan. Considered to be one of California's premier trust lenders, the firm is known for working successfully for both affluent and middle class families alongside their attorney, accountant or property tax consultant, as many families attest to.

Tanis Alonso, Senior Account Manager with Commercial Loan Corp, describes their boutique estate & trust lending service: "We don't view each trust loan scenario as simply a 'financial transaction.' Nor do we see the home they've lived in for decades as just a 'piece of real estate.' To us, this a 'piece of family history' in the making. And the process a 'family decision,' not a 'transaction.' We see our clients as real families that we're helping, financially and emotionally, not just as clients signing a contract for a trust loan. We enjoy helping people... getting them money when they really need it - and saving them on the cost side in the bargain, with a trust loan."

Tanis also elaborates on the firm's process: "OK, selling versus keeping inherited property. By someone keeping the family property, everyone receives more money than if they were to sell the property. When taking into account realtor and transaction costs of approximately 6.5%, the average trust receives $45,716 more to distribute by using a trust loan to keep to property, than if they were to sell the property. Each beneficiary on average is receiving $16,652 more by someone keeping the property, instead of selling it. And the average annual property tax savings is $6,043."

Account Exec Abe Ordaz discusses the free Benefit evaluation offer: "We are providing every family, beneficiary or heir inheriting a home left to them in an estate or trust, with a free 'cost benefit analysis'... to see how many thousands of dollars per year we can save them in property taxes. As opposed to their property being reassessed at high current rates."

Commercial Loan Corp originates loans to trusts and estates in probate, and helps to maximize the distribution of funds to a trust or estate; allowing beneficiaries to buyout inherited property from co-beneficiaries. When providing mortgages to trusts or estates in probate, the firm helps clients take advantage of Proposition 58 or Proposition 193 to avoid property tax reassessment and to retain a Parent's or Grandparent's low Proposition 13 tax base - frequently obtaining a property tax reassessment "exclusion" for families, saving them a good deal of money on property taxes.

To get a free Cost Benefit Analysis & Evaluation and lock down a low property tax base; or to receive a trust loan to buyout co-beneficiaries' property shares, and learn more about keeping parents' low property tax base when inheriting family property... California homeowners and beneficiaries can call Commercial Loan Corp at 1-877-464-1066.

Company Contact:
Commercial Loan Corporation
Main office: 1-877-464-1066
Mobile texting: 1-917-544-0551
Website: https://cloanc.com

Media Only Contact:
Geoffrey Sadwith
GS Web Communications
Phone Contact: 1-212-866-6150
Email: geoffreysf1@gmail.com

Related link: https://cloanc.com/

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Business, Free News Articles, Taxes and Accounting

Paramount Property Tax Appeal Offering a Free New Years Evaluation for Affluent Homeowners & Business Property Owners, RE: ‘Feb 16 Changes to Tax Laws & Tax-Reduction Solutions’

SAN DIEGO, Calif. -- With only 20 days left before CA tax laws change, imposing limitations on property tax relief - property tax reduction firm Paramount Property Tax Appeal is ushering in the New Year with a free New Years evaluation for California families, affluent homeowners and all types of business property owners - to determine what steps to take to lower their property tax bill.

The firm is reportedly so confident of their 80% success rate minimizing property taxes for families and businesses - Paramount is taking the unprecedented step of inviting property owners to call or stop by for a free New Years consultation & evaluation concerning requirements for a residential or business property tax appeal or property tax reduction, home and business property appraisal; as well as organizing and completing tax compliance paperwork for business personal property.

President of Paramount, Mr. Wes Nichols, says: "It's an all-hands on deck situation right now. It's critical to ensure your children can inherit and preserve a low Prop 13 basis from you! We are strongly advising all California property owners that property tax relief will be limited after Feb. 16, by the Prop 19 changes to Proposition 58's Parent-to-Child Exemption. There are only 20 days left to prepare, evaluate and potentially appeal property taxes - usually reducing property tax by 20% to 30%... Not following through on this may cost families and businesses thousands of dollars in unexpected, additional property taxes."

Mr. Nichols explains: "California property owners are facing a property tax deadline we've never faced before; that concludes 3-weeks from now - imposed by new tax law Proposition 19. All residential and commercial property owners have to complete estate planning and tax reduction paperwork by Feb. 15, 2021. When Prop 19 kicks in Feb. 16, the doors for California property tax relief protected by Proposition 13 and Proposition 58 slam shut for properties that are not owner-occupied homes within 12-months. In other words, homes, apt. buildings and other commercial properties will all be assessed at current, full-market value when you transfer title to your children..."

The corporate president elaborates: "We do enjoy helping people, no matter what their net worth or property values are; which is why we're offering a free consultation this year - and we can't emphasize enough how important it is for families and business owners to get in right now - this week - to see us, so we can evaluate their estate planning and property tax situation, and complete all the paperwork to lock in their future tax base at a lower rate. With Proposition 19 becoming property tax law, Californians only have 20 days left to lower their property taxes and complete estate planning, in order to pass down low assessed values to their children."

Paramount Property Tax Appeal is reportedly one of the few property tax firms in California that provides a large staff with well known, world-class tax attorneys and complex data-systems for proprietary tax reduction solutions and property tax appeal programs - guaranteeing parents the ability to pass down their low assessed value in the future to their children. Even if property is held in an LLC or a trust.

Mr. Nichols concludes: "It bears repeating - After Feb 16, 2021 you can no longer transfer your Proposition 13 basis to your children! This year, Californians face unprecedented tax challenges unlike any time in recent history... due partly to the Covid shutdowns and resulting economic crisis, severely impacting property values and estate planning. Families with estate planning needs have to realize they only have weeks left before their ability to take advantage of certain property tax breaks from CA Proposition 13 and Proposition 58 disappears - when Proposition 19 becomes active. This will dismantle certain tax breaks previously safeguarded by the Parent-to-Child Exemption, allowing homeowners to avoid property tax reassessment."

To get a free New Years evaluation for estate planning, trusts, property tax appeals and tax reduction - property owners can call the Paramount headquarters at (858) 225-1200 with the option to discuss over the phone, or to come in and review their property tax and/or business personal property tax needs with a property tax specialist.

Paramount Property Tax Appeal

Call: President Wes Nichols at (888) 385-9203

Email: wes@pptaxappeal.com

Website: https://www.paramountpropertytaxappeal.com

https://www.facebook.com/ParamountPropertyTaxAppeal

Related link: https://www.paramountpropertytaxappeal.com/

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