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Jared R. Callister

California Tax Review

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Brown Not In Favor of "Split-Role" to Modify Proposition 13

Governor Brown recently told a group of real estate professionals that despite pressure from his own party, he would not push to adopt a "split-role" system that would allow commercial properties to be reassessed more frequently than homes.  Governor Brown noted that modifying Proposition 13 is a difficult task given the economic complexities involved and entrenched special interests. 

“Do you include farms?” he told the group. “Do you include apartment buildings, and do you allow landlords to pass along the increased costs to tenants?”

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Single Member Limited Partnerships: So What Returns Do I File?


Ever since my original blog post on single member limited partnerships (found here) I have received numerous comments and questions from attorneys and CPAs inquiring as to the proper tax returns that would need to be prepared, in particular in California, for such an entity.


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Unions Back Measures to Extend Proposition 30 "Temporary" Tax Increases

The old tax professional adage that “there’s no such thing as a ‘temporary’ tax increase” is again proving to be true. 

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Estate and Gift Tax Exemptions and Exclusions: 2016 Projections

Based on recently published inflation tables, it is projected that for 2016, the per person estate and gift tax exmeption will rise to $5.45 million (from the current $5.43 million amount).  That means that an individual can leave $5.45 million to heirs and not pay any estate tax.  Because the exemption is per person, a married couple would be able to shield $10.9 million from estate tax.  Due to tax law changes in 2010, the estate and gift tax exemption amount is indexed for inflation, which is why there tends to be a steady annual increase in the exemption amount each year. 

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