Basis Tracking Basics

Basis Tracking Basics

We wanted to provide a newsletter about a crucial tax topic for real estate buying and selling considerations: basis. “Basis” is the amalgamation of your investment in an asset, and it will determine whether you are subject to tax on a sale.

The Lifetime Exemption for Federal Gift Taxes

The Lifetime Exemption for Federal Gift Taxes

The Internal Revenue Service has announced that the annual gift tax exclusion and lifetime exemption is increasing for the 2023 calendar year due to inflation. The Internal Revenue Service has announced that the annual gift tax exclusion and lifetime exemption is increasing to $12,920,000 for the 2023 calendar year due to inflation.

TAX UPDATE: Tax Deadline Extensions for Most California Taxpayers

TAX UPDATE: Tax Deadline Extensions for Most California Taxpayers

Recent storms prompted a disaster declaration by the Federal Emergency Management Agency (FEMA). As a result, both the IRS and California Franchise Tax Board have now extended tax deadlines to October 16, 2023 for many California taxpayers (*see note below for...
New Energy Credits from the Inflation Reduction Act

New Energy Credits from the Inflation Reduction Act

The Inflation Reduction Act (“IRA”), signed on August 16, 2022, offers taxpayers several tax savings opportunities for investments in energy efficient home and business improvements, as well as “clean” vehicle purchases.

Serving Our Community

Serving Our Community

Realize team members partnered with the Golden Gate Audubon Society and the Golden Gate Park Conservancy to plant 240 native plants at Crissy Field to support local fauna and flora. Thanks to our Community and Wellness committee, 14 Realize team members (including our Managing Partner, Tracy Hom) spent an afternoon in service to San Francisco’s natural habitats.