Taxation

Tax Preparation & Planning 
in Monterey, California

Lori Silver, Attorney, LL.M. Taxation, CPA, Monterey, California

The Law Office of Lori Silver has a tax practice which prepares tax returns primarily for individuals, trusts and estates. She meets with clients annually to understand their specific situations and is knowledgeable about the myriad of tax deductions to minimize her clients’ taxes.

Lori also is a tax consultant, doing tax planning for individuals. This includes planning for wealthy individuals to reduce their income or estate taxes. Many clients don’t realize that taxes may be incurred as a result of a foreclosures. In the last several years, Lori has advised clients about these tax implications and made recommendations to reduce or eliminate income tax as a result of the cancellation of indebtedness.

  • Tax Preparation & Returns
  • Tax Planning & Reducing Taxes
  • Home Foreclosure Tax Advice

Lori Silver also handles difficult tax problems for clients, such as IRS audits and offers in compromise. For more information,
READ MORE: Tax Problems  Taxation Problems, IRS Audits, Offers in Compromise

Tax Law Changes

In 2017, the biggest tax law in 30 years was passed. Ironically, at that time, I worked for a Congressman and Senator and was advising on the tax acts 30 years ago! 

  • Tax rates have been reduced from a maximum rate of 39.6% to 37%
  • The deadly Alternative Minimum Tax impact was ameliorated and the levels where it impacts were raised
  • The standard deduction increased nearly doubled to $24,000 (married) and $12,000 (single)
  • Personal exemptions of $4,150 were repealed for all taxpayers
  • State Tax deductions were severely limited – state tax deduction is limited to $10,000 (married and single) and $5,000 (married filing separately)
  • Mortgage interest was also severely limited to deductibility on mortgages of $750,000 or less.  This means if your mortgage is $1.0 million, you can only take part of it.
  • Pass through entities receive a 20% deduction for qualified business income
  • Child care credit doubled to $2,000
  • The ACA individual mandate was repealed
  • There are other changes, which we can discuss in person

One major problem is that many of these benefits expire in 2025. Over time, we’ll see how this affects the American public, and who benefits from this new tax law. 

Call for an appointment to discuss your tax preparation and planning needs.
(831) 375-3030

Lori Silver, Tax Attorney, LLM, CPA Monterey, California

What Clients Say

 
Re: Taxation Law & Tax Preparation

From: Dr. Kenneth L.
“Lori Silver, Attorney at Law LL.M. (Taxation) CPA, is a superb tax attorney whose expertise in taxation is unmatched in all aspects of taxation. Lori Silver gives easy to understand, clear, and concise explanations of tax laws. We’ve greatly benefited from her tax preparations over the years, thereby earning our complete trust and confidence in her competence as our tax attorney. Her skilled interpretation and accurate application of complex tax laws have greatly taken the stress out of the tax season. More important, she saved us a lot of money. We recommend Lori Silver highly to those who want to have expert tax preparation or audit service and, most of all, save money.” — Dr. Kenneth L.

Leslie Bruhn, client of Lori Silver, Tax Attorney, LLM, CPA, Monterey

Re: Tax Preparation, Estate Tax Planning

From: Leslie Bruhn
“Lori Silver is great. I consider any client that works with her fortunate. Over the years, Lori and I have had overlapping clients. I may help them with their business, money and wealth strategies, but then I send them on to Lori for Estate Tax Planning, Offers in Compromise work and Audit and tax help. Our common clients say things like, ‘Lori is wonderful.’ ‘She explains things so even I understand.’ ‘She's got a welcoming office and staff.’ ‘I love working with her.’ It's a pleasure to have Lori on my team. And it is definitely my pleasure to refer people to her.” — Leslie Bruhn 

Re: Tax Preparation

From: Dan & Sharon Downing
“Thank you for another year of your fine tax preparation work. We do miss the face-to-face meetings. To us, they were an annual financial lesson / reminder. But by following your advice, we had enough money to move to where we really wanted to live.” — Dan & Sharon Downing