The experienced tax attorneys at Moskowitz LLP are available to help the taxpayers and businesses of Alameda County. A few of the ways in which we can assist the unique needs of the county are listed below:
Agriculture
Farming in California generates over $30 billion a year and Alameda County is a large contributor, especially for nursery plants, livestock and grapes for wine. There are 20 farmer’s markets in the county, 14 of which are open year-round. If you are a vendor and the majority of your revenue is generated through these markets, it is important that you know how to properly declare your income.
Family Businesses
When you decide to step down from running your business and pass it to a child, family member, or another person you should seek advice from an experienced tax attorney about possible estate taxes that you may be able to legally avoid. With proper planning, our clients are able to maximize estate and asset protections provided by law and greatly minimize and sometimes eliminate related tax consequences.
Real Estate
As the California housing market begins to recover, owners of real estate businesses need to be especially vigilant about documenting and declaring revenue. State taxes can be especially difficult for small business owners to handle on their own. We have extensive experience in preparing multi-state tax returns and advising business clients on state tax planning. Furthermore, the IRS is a frequent auditor of real estate professionals. Our tax litigation and controversy practice group has had numerous successes representing audited real estate transactions; most notably, having the IRS agree as to the validity of deductions for real estate losses, wages, dividend and interest income, as well as other types of income. Please see our success stories for specific examples.
Winemaking
The Livermore Valley wine country is one of the treasures of the East Bay. If you are a smaller winemaker you should be aware that the Internal Revenue Service has very specific guidelines when determining whether an activity is a business or a hobby. It is important to have a clear understanding of what constitutes a for-profit activity and the problems you may face by incorrectly treating for-profit activities as hobbies.
Contact Moskowitz LLP today to learn how an experienced tax attorney can advocate on your behalf and protect your rights.