Brown & Streza Blog
By David Keligian on 4/9/2018 9:12 AM
Most Californians with higher incomes and homes will probably end up with higher federal income taxes as a result of the new income tax bill. Our federal income tax law now imposes a $10,000 limit on federal deductions for state and local income taxes. For example, any person who owns a home in California with an assessed value of $1,000,000 will be limited in their federal income tax deductions for the California taxes on their home alone—regardless of how much state income tax they pay.

That makes a ballot initiative slated for the November 2018 California ballot especially painful. Named “The College For All Act of 2018”, it is an attempt to re-institute the estate tax in California. Unlike the federal estate tax rules, which were recently liberalized, the proposed California estate tax starts to kick in on estates of more than $3,500,000 at a 12% rate, increasing to a rate of 22% on estates of more than $5,490,000. The initiative, backed by the California Federation of Teachers, establishes priorities...
By Kathy Mericle on 11/12/2013 1:54 PM
We are pleased to announce that Brown & Streza LLP has been featured in the 2013 Super Lawyers Business Edition. We received this honor because of the number of attorneys from our firm who were selected to a Super Lawyers list within a business-related practice area. Super Lawyers Business Edition is an annual resource that serves as the go-to guide for general counsel and executives in charge of making legal hiring decisions. This publication features top firms from all sizes specializing in: • Business and Transactions • Construction, Real Estate and Environmental • Employment • Intellectual Property • Litigation Super Lawyers, a Thomson Reuters business, is a research-driven, peer influenced rating service of outstanding lawyers who have attained a high degree of peer recognition and professional achievement. The mission of Super Lawyers is to bring visibility to those attorneys who exhibit excellence in practice. Super Lawyers Business Edition is distributed annually to more than 50,000 general...
By David Keligian on 5/13/2011 11:29 AM
We tax lawyers like to talk about all the creative ways our clients can transfer wealth and save millions in taxes. For transfers of operating businesses (including a real estate portfolio), there are a number of often overlooked business issues.

For example, does the next generation have the management capability to run the business? How will new lines of authority be established? (You can’t have three CEO’s). Does the next generation have the desire to manage the business? What about all the interpersonal dynamics—sibling rivalry, spouses, etc.—that can affect business operations after the founder is gone?

There are also external business issues. How will key customers react if the founder of the business is no longer around? What will the reaction of key employees be? Has the next generation had a chance to establish independent relationships with key employees, or are those personal to the founder? What will the impact of successor management’s relationships with banks and key vendors be?...