Two important tax initiatives have qualified for the California November ballot, each of which could have a huge impact on real estate and succession planning. The first initiative will seek to exempt commercial property from the protections of Prop. 13, while the second will expand the ability of seniors to carry over their property tax basis to replacement properties. These initiatives, if passed, would impact almost every person in the state in some way, so understanding the initiatives would provide meaningful value to EPI members to use in strategizing their clients’ best interests.
Taxes serve not only to fund the government, but also as a psychological tool to reward or punish behavior. The two tax initiatives to be discussed shift tax obligations for commercial properties and for seniors in ways that will have numerous intended consequences, including raising additional funds to offset tax revenue loss from the Coronavirus, but their passage could also have unintended consequences. So, by defining and analyzing the two tax initiatives the speaker’s goal is to have EPI members understand the benefits and burdens involved, not only for themselves but also for their clients.
*PLEASE NOTE: This meeting will utilize the Zoom Breakout Rooms feature. After registering for the event, you will receive a Zoom Link and Password from MemberExperience@beyondcepa.com. Please ensure you save this to your calendar to access the meeting. If you do not receive a confirmation e-mail within 15 minutes, please look in your Spam and Clutter mailboxes.
- Tax initiatives will be defined and thoroughly analyzed
- Relevant arguments for and against passage of the initiatives will be provided
- Example scenarios will be discussed as to the likely ramifications should the initiatives be approved so that EPI members can better relate the issues to their clients
About the Presenter:
Learn from industry expert Don Lanson, Partner of the law firm of Manfredi, Levine, Eccles, Miller & Lanson APC.Meet the Presenter