Blog
Diversifying a Highly Concentrated Stock Position (Without Triggering a Massive Tax Bill)
If you’re holding a highly concentrated stock position with a very low cost basis, diversifying in a tax-efficient manner can be challenging.
Read MoreCharitable Giving as a Tax Strategy: Why 2025 Is the Year to Act
For many high-income and high-net-worth families, charitable giving has long been one of the most effective ways to combine purpose with tax efficiency. However, starting in 2026, new IRS rules will significantly reduce the tax...
Read MoreI am interested in an Exchange Fund, but how do I participate: A detailed step-by-step guide
If you’re reading this, you likely hold a large, concentrated stock position with very low cost basis, and you’re looking for ways to diversify without triggering significant capital gains taxes. An exchange fund can be a powerful solution.
Read MoreTax Planning On Concentrated Stock
What Is Concentrated Stock and How Does It Come About? “Concentrated Stock” refers to a situation in which a large portion of a household’s investable assets is concentrated in one or just a few stocks. Many textbooks suggest that if...
Read MoreShow All
Anticipating Tax Changes in 2025: Strategic Planning Under Trump's New Administration
As January 20, 2025, approaches, marking Donald Trump’s return to the White House, it’s time to prepare for potential changes to the U.S. tax code. The current tax framework largely stems from the 2017 Tax Cuts and Jobs Act (TCJA),...
Read More2024 Year-End Tax Planning Guide
As the year draws to a close, time is running out to make strategic decisions that can reduce your 2024 tax burden. Here are some essential tips to help you minimize your 2024 taxes and lay the groundwork for long-term financial...
Read MoreState Mandated LTC - What’s Next
The WA Cares Fund is the nation’s first state-mandated, publicly funded long-term care (LTC) insurance program. Although it has been collecting payroll taxes for just over a year, its future may be at risk while other states explore...
Read MoreWhy Do You Need a Living Trust in California?
In the realm of estate planning, a living trust stands out as a powerful tool that can offer numerous benefits, particularly for residents of California. While wills are commonly thought of as the primary means of ensuring one's...
Read MoreTax Saving Strategies for Employees of Large Tech Companies: The Mega Backdoor Roth IRA
Every individual can have, at most, one 401(k) plan under the same employer/company. However, the 401(k) plan includes several different types of contributions, each with its own limits. Let’s clarify these types first: Types of 401(k)...
Read MoreCalifornia Elective Pass-Through Entity Tax: Upcoming Deadline and What You Need to Know
California has introduced an elective pass-through entity (PTE) tax aimed at offering a state tax benefit by bypassing the federal $10,000 cap on state and local tax (SALT) deductions. As the deadline for the first payment for the 2024...
Read MoreRetirement Account Tax Saving Series V – Backdoor Roth IRA
In our previous articles, we've covered various aspects of IRAs. This article introduces the Backdoor Roth IRA, highlighting its advantages and the strategy behind it. What is the Backdoor Roth IRA? The Backdoor Roth IRA offers a...
Read MoreCan Starting a Company Help You Save on Taxes?
Starting a company is often touted as a strategy to save on taxes, but how effective is it? As a financial planner, I frequently encounter clients asking, "Can I start a company to save on taxes?" My response typically begins with,...
Read MoreRETIREMENT PLAN SERIES IV - WHAT TO DO WITH YOUR 401K WHEN LEAVING YOUR JOB
When you leave your employer, whether voluntarily or involuntarily, one important asset you need to deal with is your 401K. Most people might say, "I didn't do anything" or "I rolled it over to my new employer's plan," but there are...
Read MoreState mandated long term care programs. What’s next?
As you consider your long-term care (LTC) insurance options, it's important to note the evolving landscape of state-mandated programs.
Read MoreRETIREMENT ACCOUNT TAX SAVING SERIES II – HOW TO BE ELIGIBLE TO CONTRIBUTE TO AN IRA IN 2024
One of the most frequently asked questions by everyone was “Can I contribute to an IRA?” To help answer this question, we will be referencing numbers from the year 2024 throughout the article. Contribution...
Read MoreRETIREMENT ACCOUNT TAX SAVING SERIES I – HOW TO SAVE TAXES BY UTILIZING YOUR 401K & IRA IN 2024
The United States has available an assortment of different retirement plans, such as 401k, 403B, Cash Balance plans, multiple distinct IRA’s, Profit-Sharing Plans, and Pension Plans, etc. Typically, people are confused about...
Read MoreBeneficial Ownership Information Reporting Obligations for Small Business
Starting Jan. 1, 2024, most companies created in or registered to do business in the U.S. must report information on their beneficial owners to the Financial Crimes Enforcement Network (FinCEN) under the Corporate Transparency Act...
Read More
Update on California Long-Term Care Insurance Legislation (Nov 2023)
This article provides the most recent updates on California State mandatory long term care insurance legislation.
Read More
Understanding the De Minimis Tax Rule
Understanding the De Minimis Tax Rule
Read More
Entrepreneurship and Expertise: How Two Financial Advisors Doubled Down on Success
Entrepreneurism and experience leads to a partnership destined for success
Read More
5 mistakes that will put your 401(k) plan at risk
This article summarizes some risks that employers may get into when setting up a retirement plan.
Read More
State-Mandated Long-Term Care Insurance update
State-mandated long-term care insurance requires residents to purchase a minimum level of LTC coverage or participate in a state-run program. In this article we will discuss the progress made by each state with pending LTC legislation.
Read More
Cheaper than ever to set up a 401k plan. Here is why.
To ease the burden for small businesses, the SECURE 2.0 Act created a substantial new startup tax credit based on contributions the employer made on behalf of participants and expanded the existing startup tax credit on employer plan...
Read More
FDIC, SIPC, and Repayment Priority: Three Things You Should Know to Secure Your Wealth
Silicon Valley Bank, a well-known bank specializing in the technology and innovation sectors, failed just two days after experiencing a $42 billion withdrawal.Signature Bank, one of the largest commercial banks involved in the digital...
Read More
Financial planning strategies for women
As International Women's Day approaches, it's a good time for women to assess their financial planning strategies and make adjustments to seek to ensure that they are on the right track to work toward their long-term goals.
Read More
The Secret to Saving Thousands on Your Partnership and S Corp Tax: Pass-Through Entity Election
Are you a small business owner looking to reduce your tax burden? Have you paid more than $10,000 in state tax and property tax but only got $10,000 deduction at the federal level due to SALT limit? If you answered YES to both...
Read More
What you should know about Secure 2.0
The SECURE 2.0 Act has been enacted into law, bringing a number of changes that aim to improve the stability of the retirement system and increase Americans' financial readiness for retirement. The law expands upon previous legislation...
Read More
2023 Tax Deadlines You Should Know
At Taurus Financial, we understand that running a business can be time-consuming and may not leave much energy for the often-stressful task of tax filing. To help make this process as smooth as possible, it is helpful to mark important...
Read More
What You Should Do Before 12/31 to Save Tax
Once again, it is time to consider your year - end tax saving strategies. Essentially, year - end tax saving involves timing the income and deductions to reduce tax liabilities...
Read More
What does the new Inflation Reduction Act (IRA) mean to you?
Inflation Reduction Act (IRA) was signed into law on August 16th, 2022, aimed at promoting clean energy, lower health care cost, revitalize American manufacturing and the most importantly, tax code reforming.
Read More
How To Avoid Estimated Tax Penalty?
We all know that all taxpayers must pay taxes on the income they receive. However, the IRS has made your life more difficult by requiring taxes on your income to essentially be prepaid, usually quarterly.
Read More
RSU – Keep or Sell?
Since the financial crisis of 2007 and 2008, investors have become accustomed to a protracted bull market with only temporary dips. However, in recent months, the Fed has quickly transitioned from being accommodative to becoming...
Read More
Retirement Account Tax Saving Series III – Distribution of Retirement Plan
A distribution from a retirement plan is when the account owner withdraws money from the retirement account. The withdrawals might trigger a tax or penalty under certain circumstances.
Read More
Assets Performance during 1970 - 1980
Stagflation is a period of combined high inflation and unemployment with weak economic growth. Gold was a clear winner during the 1970s stagflation period, followed by Commodities and REITs.
Read More
Retirement Account Tax Saving Series II – How to be Eligible to Contribute to an IRA
One of the most frequently asked questions by everyone was “Can I contribute to an IRA?” To help answer this question, we will be referencing numbers from the year 2022 throughout the article. ContributionTraditional...
Read More
Rich People’s Headache
The Tax Cuts and Jobs Act (the “ACT”) had doubled lifetime gift and estate tax exemption amount from $5.49million to $11.18 million per individual. This exemption is indexed for inflation, and it increases annually based on...
Read More
Retirement Account Tax Saving Series I – How to Save Taxes by Utilizing Your 401k & IRA
The United States has available an assortment of different retirement plans, such as 401k, 403B, Cash Balance plans, multiple distinct IRA’s, Profit-Sharing Plans, and Pension Plans, etc. Typically, people are confused about...
Read More
Goodman Triangle?
Well, we hope none of us would like to be stuck in an eternal triangle, and we believe most of us have heard of the mysterious place Bermuda Triangle. However, have you heard of the term “Goodman Tringle”? Today, let...
Read More
Lost Money from ARKK, but still need to report capital gain?
"I lost money from investments last year, but why do I still need to report capital gain tax?" Find out the answer in our short video below, and subscribe to our YouTube channel. Script by Tina Sun, CFA, EA; video created by Shiyun Ye.
Read More
Who Sold My RSUs?
"Why do I still owe tax while I did not sell any of my RSUs?" Find out the answer in our short video below, and subscribe to our YouTube channel. Script by Yisha Wang, CPA; video created by Shiyun Ye.
Read More
Incentive Stock Options 101
Have you ever wondered, my company is growing fast, and the stock price has been increasing, but my salary stays the same unless I receive a promotion? How can I benefit or be compensated with the company improvement as a loyal...
Read More
7 Types of Equity Award the Employer May Grant and How They Work
In general, the 7 types of equity award can be categorized under 3 main groups: Share-based awards, Options-based awards, and Equity Awards Plus Performance.Three Share-based awards: might worth something at vesting (if the company...
Read More