California Tax Notebook

jleet@boutinjones.com

James Leet

About James Leet

I'm still developing new interests. In the last few years, I've been very focused on hiking, gratefully experiencing the varied beauty of our world. I hiked the entire state of California - about 400 miles - from east to west. I went with a group of people over a long series of weekends and we hiked between 12 - 15 miles a day. I've also hiked the Milford, Routeburn and Kepler Tracks in New Zealand and Haute Route in Switzerland. In 2016, I finished the Laugavegur Trail in Iceland. Great hikes, but now I would like to hike the many trails in the USA.
13 12, 2020

Section 199A, SSTBs and Related Parties

2021-01-09T00:42:11+00:00December 13th, 2020|Tax Articles|

Introduction. The Tax Cuts and Jobs Act of 2017 (the “Act”) added Section 199A to the Internal Revenue Code (the “Code”). Section 199A provides a deduction that reduces the effective tax rate on qualified business income (“QBI”) for owners of businesses taxed as sole proprietorships, partnerships, limited partnerships, limited liability companies, S corporations and similar pass-through entities (each hereinafter, a “pass-through Continue Reading …

11 12, 2020

Section 1202 Qualified Small Business Stock Benefits Revisited

2020-12-14T21:14:55+00:00December 11th, 2020|Tax Articles|

As we make it through 2020 and into 2021, one should consider revisiting the choice of entity in ascertaining which type of business entity is the best entity for a client’s particular needs. Historically, flow-through entities such as partnerships, limited liability companies and S corporations have prevailed over C corporations. Generally, this is a good choice for planning an exit from Continue Reading …

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