Fujikawa & Associates

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Fujikawa & Associates We are a family run accounting firm that specializes in individual and small business income tax and

10/02/2026

One of the simplest major tax benefits may be sitting inside your primary home.

Eligible married couples filing jointly may exclude up to $500,000 of gain from the sale of a principal residence; eligible single filers may exclude up to $250,000. A core requirement is generally owning and using the home as a primary residence for at least two of the five years before the sale.

It requires far less planning than many advanced strategies, which is why Derek ranks it A-tier.

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Educational only—exceptions, prior exclusions and partial-use rules can affect eligibility.

09/30/2026

Opportunity Zones can offer powerful tax benefits—but the investment has to make sense on its own.

An eligible capital gain may be reinvested into a Qualified Opportunity Fund within the required window, potentially deferring the original gain. If the new investment is held long enough and all requirements are met, appreciation on the Opportunity Zone investment may receive additional tax benefits.

The tradeoff is real: long holding periods, limited liquidity, meaningful due diligence and the challenge of finding the right deal. That’s why Derek landed at B-tier.

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Educational only—Opportunity Zone rules are complex and time-sensitive.

09/28/2026

If you already plan to give to charity, donating appreciated stock directly may be more tax-efficient than selling it first.

Imagine stock purchased for $10 that is now worth $100. Selling it can trigger tax on the $90 gain before the cash is donated. Donating qualifying appreciated shares directly may avoid recognizing that gain while potentially preserving a deduction based on fair market value. The charity can generally sell the shares without paying capital-gains tax.

That double benefit earns A-tier—but donating solely for a tax deduction rarely makes economic sense.

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09/25/2026

Hiring your children can shift income from a parent’s higher tax bracket to the child’s lower bracket—but it must be a real job with reasonable pay.

Depending on the business structure and the child’s age, payroll-tax treatment may also be favorable. A child may owe little or no federal income tax when wages remain within the applicable standard deduction.

The strategy can add up across multiple children, but the per-child dollar limit keeps it in B-tier.

Document the work, use market-rate compensation and follow payroll rules.

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Educational only—business structure and current-year limits matter.

09/23/2026

Selling a long-held rental can create a major tax bill—especially when the property has significant appreciation.

A properly structured 1031 exchange may allow an investor to defer that gain by exchanging into qualifying like-kind real estate. Instead of losing part of the proceeds to current taxes, more of the sale proceeds can stay invested in the replacement property.

It’s not tax elimination, and the rules are strict, but the ability to keep capital working is why Derek ranks the 1031 exchange in A-tier.

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Educational only—start planning with a CPA and qualified intermediary before selling.

09/14/2026

Can rental real estate losses reduce the taxes on your active income?

For many investors, losses generated by depreciation stay passive—meaning they generally offset passive income, not wages or business income. Real Estate Professional Status (REPS) can change that treatment when the taxpayer meets the qualification and material-participation requirements.

A simple hypothetical:

An investor earns $250,000 from a business and owns rentals producing an $80,000 tax loss after depreciation. Without the right tax status and participation, that loss may be suspended or limited. If the investor legitimately qualifies for REPS and materially participates, the tax outcome may be very different.

That’s why we ranked REPS as an A-tier strategy: it can be powerful, but it isn’t automatic. The hours, documentation, ownership structure and participation tests matter.

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California doesn’t play by federal IRS rules.Bonus depreciation, commonly used federally, doesn’t exist in CA. Even long...
05/11/2026

California doesn’t play by federal IRS rules.

Bonus depreciation, commonly used federally, doesn’t exist in CA. Even long-term assets must follow state depreciation schedules.

This can lead to overestimated deductions if you don’t adjust for state rules.

Pro tip: Always check which deductions are federal-only before filing state returns. Some credits may appear later, but for now, plan around **CA-compliant depreciation**.

Follow for more tactical strategies to save on real estate & business taxes in California.

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04/29/2026

The old $10K tax cap changed how homeowners saved money—and not in a good way.

If you were paying $20K–$40K in property taxes, most of it wasn’t even deductible.

Now with a higher SALT cap, combining property taxes, state taxes, and even small deductions like donations could help you itemize and save more.

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04/27/2026

Short-term rentals aren’t as passive as people think.

Most bookings happen during weekends and holidays, which means that’s when problems show up too.

From plumbing issues to guest concerns, you’re often working during your personal time.

This is the hidden trade-off many people don’t talk about.

Unlike long-term rentals, short-term setups demand constant attention and quick responses.

If you want more freedom, you’ll need systems, automation, or even a property manager.
Otherwise, your “side income” can slowly turn into a full-time responsibility.

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04/22/2026

This tax move can offset your W2 income and change how you think about investing.

When your rental property shows a loss—especially through bonus depreciation—that loss can offset other income like your salary or business profits.

For example, if you generate a $100K paper loss and only make $50K from the property, the remaining $50K can reduce your W2 income.

This is why many investors focus on “paper losses” vs actual cash flow early on.

It’s not just about making money—it’s about keeping more of what you earn through smart tax strategy.

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1270 S Wi******er Boulevard Suite 100
San Jose, CA
95128

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