Revocable trusts are the more flexible of the two structures. When you create a revocable trust, you retain control over the assets you place in it during your lifetime. As long as you are legally competent, you can add or remove assets, change beneficiaries or trustees, adjust distribution terms, or revoke the trust entirely. In […]
tax planning
Don’t Rush Your Retirement Plan Rollover
When you change employers, you typically have several options for your retirement savings: You can leave the money where it is, roll it into an individual retirement account, move it into a new employer’s plan, or cash it out. Each choice affects your taxes, access to funds, and long-term growth in different ways. Most […]
Key Tax Changes Taking Effect in 2026
Advance planning starts with understanding new rules before they come into effect. The One Big Beautiful Bill Act introduced a wide range of tax changes, including several provisions that have received relatively little attention but will affect individual and business taxpayers beginning in 2026. What follows is a summary of key changes to be […]
IRS Gives Guidance on Getting Ready For the 2026 Tax Season
The IRS Get Ready campaign offers tips, reminders, and new information on what you need to prepare for the 2026 tax filing season. Among the changes and additions the OBBBA brings are tax deductions for tips, overtime, car loan interest, and seniors. Here are tips to prepare for filing season: Get a head start […]
Does an Estate Plan Affect My Taxes?
Hi there, my name is Miranda Dressler, attorney with MacKay Dressler Law Firm located in Petaluma, California. And today we’re gonna be talking about or answering a question that we get pretty often, which is, does an estate plan affect my taxes? And the short answer is yes, but maybe not in the way you […]
Navigating Tax Issues With Vacation Property Rentals
Purchasing a vacation home and renting it out is an excellent way to help finance the property. However, the tax aspects of renting your vacation home while also using it as a personal residence can get tricky. By involving a tax professional at the beginning of the process, you can avoid complicated tax problems down […]
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