Safe Harbor CPAs, Leading Personal Tax Advisors in San Francisco, Announces Post on the Challenges of High Net Worth Individuals
SAN FRANCISCO, Sept. 29, 2019 /PRNewswire-PRWeb/ -- Safe Harbor LLP, a top-rated accounting firm in San Francisco, California, at http://www.safeharborcpa.com/, is proud to announce a new post on the new tax challenges facing high net worth income in 2019. Recent tax changes combined with the booming Bay Area economy are steadily increasing the tax burden of high income and high net worth individuals.
"Taxes are no fun for anyone, but as wealth increases and tax changes come from Washington and Sacramento, more and more of our clients are expressing anxiety about 2019 when it comes to taxation," explained Chun Wong, Managing Partner at Safe Harbor LLP. "Our new post is a starting point for a conversation on how to best minimize taxes for high net worth and high income individuals in 2019 while there is still time for tax planning."
To read the new post visit http://www.safeharborcpa.com/taxes-are-always-a-problem-even-if-you-are-relatively-wealthy/. Individuals seeking to understand the firm's services for individual tax return preparation can also visit http://www.safeharborcpa.com/individual-income-tax/, and then reach out to the firm to speak with a San Francisco-based tax advisor. No two situations are alike, and so the best next step is to discuss the facts and tax laws with a trained professional. Then a plan can be made to minimize taxes in 2019 as we still more than three months in 2019.
A BOOMING ECONOMY AND NEW TAX LAWS MAY MEAN HIGHER TAXES
Here is background on this release. It's no secret that many of the new tax changes out of Washington and Sacramento may have a negative impact on high income and/or high net worth individuals. Government bureaucrats and politicians, after all, have to go where the money is for revenue. Despite some reductions in taxes, there are many new complexities especially when it comes to so-called SALT (State and Local Taxes). San Francisco, in turn, is the epicenter of the explosion of wealth from the latest technology boom. Many startup owners and early employees are facing big tax bites from high salaries, stock options, and other new forms of compensation. In addition, California's own state government is mulling over new changes in the tax laws to increase taxes as is the local government in San Francisco. These factors are increasing tax anxiety among high income and high net worth individuals in the Golden State. For this reason, Safe Harbor CPAs is announcing a new post on its blog on individual taxation. The post is meant as food for thought and a starting point for conversations on how best to minimize taxes in this new environment.
ABOUT SAFE HARBOR LLP ? A PROFESSIONAL CPA FIRM IN SAN FRANCISCO
Safe Harbor LLP is a CPA firm that specializes in accounting and tax services for individuals and businesses throughout the San Francisco Bay Area and greater California. Safe Harbor CPAs helps both individuals and businesses with tax preparation, IRS audit defense, and audited financial statements. The firm prides itself on friendly yet professional service and utilizes state-of-the-art Internet technology to provide quality customer service.
Safe Harbor CPA
http://www.safeharborcpa.com
Tel. 415.742.4249
SOURCE Safe Harbor LLP
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