Herbert Financial Group

If you filed a recent U.S. tax return, you likely saw a question about virtual currency. The IRS has treated crypto income and capital gains as reportable for years, and that has not changed for individuals. What has changed are the reporting rules for institutions that handle your trades. Starting in 2024 and rolling into 2026, the IRS and Treasury issued new crypto tax rules that shift how…

There is a persistent myth in the financial world that you need to be lounging on a yacht in Newport Beach with eight figures in the bank before you can even think about hiring a wealth manager. For years, traditional Wall Street firms have gatekept the industry with strict $5 million or $10 million liquid asset minimums, leaving highly successful business owners and high-income earners wondering…

Opening your mailbox to find a notice from the IRS is enough to make anyone’s stomach drop. When you owe back taxes, the letters get increasingly aggressive, and the threat of wage garnishments or bank levies can feel like a dark cloud over your life and business. If you are in this situation, you have likely seen advertisements for tax relief companies promising to “pennies on the dollar”…

If you are currently sitting on a proposal from an attorney to draft your Living Trust, Will, and Powers of Attorney, you might be looking at the final number and wondering: “Can I at least write this off on my taxes next year?” It is a logical question. After all, you are paying a professional to help secure and manage your financial future. However, when it comes to the IRS and the California…

Let’s be honest: most financial plans are nothing more than glorified wish lists. You sit down, pick a retirement age, guess how much money you’ll need, and hope the stock market cooperates. Then life happens—tax laws change, businesses pivot, and suddenly that static spreadsheet from five years ago is completely obsolete. If you want a financial plan that actually works, you have to build one…

There is a specific, often painful moment in a company’s lifecycle known as the “Growth Gap.” It usually happens when your revenue is climbing, your team is expanding, and your basic bookkeeping—while accurate—is no longer telling you the whole story. You know you’re making money, but you aren’t quite sure where it’s going or how to safely fund the next big move. At this stage, a traditional…

If you’re a business owner in California, you already know that the tax landscape can feel like a moving target. Just as you get comfortable with one set of rules, a new bill or an inflation adjustment changes the game. As we head into 2026, the stakes are higher than ever, but so are the opportunities. Thanks to recent legislation like the One Big Beautiful Bill (OBBB), which made many popular…

If you live in California, you already know that “The Golden State” has its own unique way of doing things—and taxes are no exception. Whether you’re enjoying the surf in Malibu or running a tech startup in Silicon Valley, understanding your tax obligations is key to staying in the good graces of the Franchise Tax Board (FTB). But here is the million-dollar question: Who actually needs to file a…

Most people think about taxes the same way they think about a trip to the dentist: something you do once a year because you have to, usually involving a bit of discomfort and a sigh of relief when it’s over. But what if your taxes weren’t just a deadline to meet, but a tool to grow your wealth? If you’ve ever found yourself asking, “What can a tax advisor do for me that a standard software or…

R&D Tax Credit California: A Practical Guide for Software and AI Firms If you are paying top dollar for engineers, cloud compute, and data, but still cutting a big check to the Franchise Tax Board, you are probably leaving money on the table. The R&D tax credit California offers can turn a chunk of that spend into tax savings or payroll relief. For a growing software or AI company, that can…

You do not want your first serious look at your crypto records to be after an IRS agent calls. By then, you are reacting, not controlling the outcome. For high earners and business owners, the risk is higher than you might think. The IRS has ramped up digital asset enforcement and is using new data feeds, including the IRS crypto audit programs tied to exchange reporting. With the right…

Green upgrades can feel like paying extra for “good intentions.” Then the tax side hits and the math changes fast. The right green building tax incentives can turn a planned retrofit, new build, or solar project into a better cash flow story, sometimes in the same tax year. If you’re a California business owner or a high-net-worth investor, the stakes are bigger. You’re juggling construction…

If you are an S‑Corp owner in California with serious income flowing through your K‑1s, the California pass-through entity tax (PTET) is no longer a niche idea. It is one of the few tools that can claw back part of the federal SALT cap and keep more cash inside your business and family plan. The tradeoff: the rules for 2025 are strict, the deadlines are tight, and one missed payment can wipe out…

You work hard, your income is high, and California taxes are not gentle. As December closes in, waiting for April can turn into an expensive habit. A clear california high earner tax checklist gives you order instead of chaos. You see your numbers, decide what to do, and move into the new year with less tax drag and more cash to grow. This guide walks you through focused, end-of-year steps…

You invest real money into high-efficiency buildings. The last thing you want is to leave federal energy incentives sitting on the table. Used well, the 179D energy deduction can turn every square foot of efficiency into a powerful Business Tax tool. When you stack it with renewable energy credits, state programs, and utility rebates, the after-tax return on your project can shift in a big…

You buy a property in Los Angeles, it jumps in value, and suddenly the tax bill looks painful. If you hold a sizable portfolio, that pain multiplies fast. Used together, cost segregation 1031 exchange strategies can turn that tax drag into fuel for your next deal. When you coordinate depreciation, gain deferral, and California rules, you free up real cash to grow your portfolio instead of…

Red-flag compliance risks are mounting in 2025. The California Franchise Tax Board assessed more than $1.1 billion in penalties in 2023, and pressure has only increased. Tougher filing rules, tighter deadlines, and deeper data-matching mean your risk of an FTB audit or suspension is higher, even if your books are clean. Most penalties do not come from underpaid tax. They start with missed forms,…