It’s (nearly) December in San Francisco, so let it snow, let it snow, let it snow!  Well, OK, it won’t snow… although it does once in a rainbow moon, snow in San Francisco.  So we’ll hope.  There is some good news for those of you who love winter in San Francisco: ice skating in Union Square is open! While you’re waiting your tun for ice skating in downtown San Francisco… bring our monthly tax newsletter (available in PDF format), and browse some of the interesting tips and tidbits on taxes for San Francisco residents.  Let’s see what we have this month –

  • Longevity Annuities. Planning on living a long time?  So are we.  Deferred income annuities (DIAS) have recently become popular.  New regulations from the US Treasury department may increase their appeal, opening the way for so-called ‘longevity’ annuities.  But… there’s death and taxes, so there are some interesting twists and turns in terms of the tax impact of these longevity annuities.Tax Tips and San Francisco and Winter
  • Global  Funds vs. International Funds.  Huh?  There are differences between the two, and especially since the US stock markets have outperformed foreign markets, now people speculate the reverse may start to become true.  Global funds, also known as world funds, typically invest in the shares of any company in the world (including the USA).  International funds, sometimes called foreign funds, generally invest ONLY in companies that exist outside of the United States. Go figure.  Really, go figure.  Figure out which is better for your investment, and tax strategy.
  • Accumulated Assets.  Uncle Sam wants to put his finger in your pie – whether you are an employee, self-employed, or a corporate owner.  Then for corporations there are both “C” and “S” corporations, but with recent changes sometimes “C” corporations can face some steep taxes, including a tax on “accumulated assets.”  Go figure.  No, really.  Go figure: which is better for you an “S” or a “C” or an “LLC” (yes, that rhymes).  And if you have a “C” see if the accumulated assets tax will bite (we can help).

So that, our dear San Francisco Bay Area, friends… is our tax tips bulletin for December, 2014.  Go enjoy Union Square!  Go enjoy a San Francisco winter!  Go enjoy the Christmas lights on the Embarcadero!  Let us worry about your taxes.  Download our December San Francisco Tax Tips bulletin.