Martin Belak-Berger, CPA
PRINCIPAL - TAX
Martin first started his career in public accounting with Block, Good, and Gagerman in 1984 after serving as a technical support supervisor at CCH Computax, now known as Pro Systems FX.
He was brought in to Block, Good, and Gagerman to help streamline the computer aspects of their tax practice as well as work on some of the more complex partnership tax returns. The firm separated in 1987, and Martin continued with a successor firm, Good, Gagerman, and Berns. After several years as a Tax Manager, he returned to Block, Plant, and Eisner as a Tax Manager in 1989 and was promoted to Tax Partner in 1992.
His areas of expertise are centered around helping the owners of closely-held businesses successfully navigate the financial and tax hurdles in an ever-increasingly complex environment. He partners with his clients to facilitate successful tax strategies to maximize after-tax returns. This includes significant expertise in owning and operating real estate, maximizing tax incentives, and searching for opportunities in the tax code.
Martin also advises clients throughout the entire business cycle. He assists in picking the proper form of doing business upon startup, acquiring new businesses, and finding the proper exit strategies. This includes both structuring an estate plan to minimize estate taxes and structuring the sale of the business.
• Bachelor’s Degree in Finance, University of Arizona
• Involved in youth sports serving as both a coach and a President of a large local soccer club
• Enjoys skiing, golf, soccer, and travel
Tax Thought Leadership
Pasadena, CA. – KROST CPAs and Consultants, Los Angeles-based firm, receives two new accolades from Accounting Today, Top 100 Firms, and Fastest-Growing Firms in the U.S. KROST is a full-service certified public accounting and consulting firm serving clients across various industries in the areas of tax, accounting, consulting, assurance and advisory, M&A and capital markets, … Read More
Foreign-owned domestic disregarded entities have not had filing requirements in the past unless an election was made to treat it as a corporation, known as “check the box.” Disregarded entities are most commonly single-member LLC (SMLLC). Generally, income tax and reporting requirements would not be reported separately. Rather, they would have been reportable on the … Read More
The Internal Revenue Service has postponed the April 15 tax payment and filing deadline for individuals to May 17, allowing more time to file your 2020 Federal Form 1040 income tax return. California conforms to the federal change and many other states to follow the IRS lead. The recent $1.9 trillion COVID-19 relief bill signed … Read More
You may be required to file Form 5471, “Information Return of U.S. Persons with Respect to Certain Foreign Corporations,” if you have ownership in a foreign corporation. Form 5471 is becoming increasingly important for U.S. taxpayers with interest in a foreign corporation regardless of location. Determining who needs to file Form 5471 can be a … Read More
US citizens living abroad and foreign nationals residing in the US are renouncing their citizenship in a record-breaking fashion. During the first three quarters of 2020, the IRS published 5,045 individuals who have made the ultimate decision to expatriate and formally cut ties with the United States. This amount is significantly higher than the numbers … Read More
Navigating the ins and outs of US taxes as a US shareholder of a controlled foreign corporation (CFC) has been complex in the last couple of years due to changes in regulations from the IRS. Taxpayers need tax planning to determine the best strategy to mitigate the CFC’s tax liabilities. In 2019, the IRS and … Read More
The following article was written by the IRS. View the original source here: https://www.irs.gov/newsroom/tips-to-help-people-choose-a-reputable-tax-preparer Whether taxpayers regularly use a tax professional to help them file a tax return or they have decided to work with one for the first time, it is important to choose a tax return preparer wisely. Taxpayers are responsible for all the information … Read More
With the advent of the Tax Cuts and Jobs Act of 2017, the estate, gift, and generation skipping tax exemptions increased dramatically, but these changes were only temporary. With the Biden administration now in place and at least some Democratic control of the senate, there is added uncertainty that should be evaluated soon. It is … Read More
Old Law New Law Eligible Employers 2020 2021 Eligible employers can receive a refundable payroll tax credit of 50% of wages paid to employees between March 13th, 2020 and December 31st, 2020. No Change Eligible employers can receive a refundable payroll tax credit up to 70% of qualifying wages paid between January 1, 2021 and … Read More
California Proposition 19 passed with just over 51% of the vote in the general election on November 3rd and is expected to become law. This new law has two separate effective dates: February 16, 2021 – For beneficiaries of real estate that use the property as a primary residence. April 1, 2021 – For transferring … Read More