Callahan Financial Planning announces new tax manager

We are excited to announce the first issue of our new team spotlight series. Our goal is to provide an opportunity for current and potential future clients to learn more about our team of professionals who are dedicated to serving you.

This series kicks off by highlighting our new Tax Manager, Liga Tyack.

Liga joined our team in March, 2022 and was brought on to oversee the entire company’s tax service offerings. She brings over 20 years of experience providing international and domestic tax advice in financial services, investment management and private equity as well as biopharma and technology industries. Her areas of expertise include domestic and international tax planning, audit defense, transfer pricing, business and intangible property valuation, public affairs and policymaking.

Some of Tyack’s former roles include Tax and Trade Economist Consultant with multiple global consulting firms including Charles River Associates, DLA Piper and PwC, and in-house Tax and Transfer Pricing Advisor at publicly traded investment management firms, as well as serving the IRS/APA as a Senior Economist and tax policy maker for the U.S. Treasury.

When asked what drew Liga to the firm, she stated: “I joined Callahan Financial Planning, because I want to contribute to a growing, company with smart, kind and dedicated employees who above all else put their clients’ needs first. It’s a brave firm that is constantly pushing themselves to succeed and I look forward to leveraging my extensive tax background to support our clients’ investment, income tax, and retirement planning needs. I was also drawn to the culture that deeply values their ‘local family’ roots and believe that I bring a unique and valuable perspective to an already strong team.”

One of Liga’s favorite quotes is from children’s author, Roald Dahl, “Somewhere inside all of us is the power to change the world.” This concept has served her well in her work with clients as well as her civic and volunteer work.

As a long-time San Francisco Bay area resident, Tyack now resides in Marin County. She received her Bachelor of Arts degree from Stanford University, Stanford, CA in Quantitative Economics/Applied Math and her Master of Arts degree from University of California, Santa Cruz, Santa Cruz, CA in International Economics with a concentration in Trade and Finance.

Tyack served on Honorary Consul for the Republic of Latvia in Northern California from 2011–2020, appointed by the Office of Foreign Missions of the U.S. State Department in partnership with the Latvia Ministry of Foreign Affairs. In this civic position, Tyack represented the Republic of Latvia at the 70-member San Francisco Consular corps and created and promoted programs to strengthen the cultural, economic and diplomatic collaboration between Latvia, the international diplomatic community and diaspora of Northern California and the academic, civic and business communities located in the Silicon Valley.

In 2020, she received the ‘Cross of Recognition, 2nd Order of Grand Officer’ awarded by the current President of Latvia, Egils Levits, for her ten-years of civic work as Honorary Consul for the Republic of Latvia in Northern California.

Additionally, Tyack is a member of Stanford Professional Women, the Silicon Vikings, which supports venture capital and tech start-up based in Scandinavian and Baltic countries, as well as the San Francisco Yacht Club and their youth sailing and racing programs. In her free time, she likes to write poetry, play the piano, go hiking and enjoy her captain’s license by sailing in the San Francisco Bay, as well as the Caribbean and Baltic Seas.

If you would like to learn more about how Tyack and her team can help you navigate your income taxes, retirement planning, and how a tax-efficient investment strategy can better prepare you for retirement, contact her at 415-795-8600 or by emailing team@callahanplanning.com.

About Callahan Financial Planning: Callahan Financial Planning is an independent fiduciary financial advisor, providing financial planning and investment management services with six offices across 3 regions: San Rafael, San Francisco, and Mill Valley in Northern California, in Omaha and Lincoln in Nebraska, and in Denver, Colorado. Callahan Financial Planning is a federally registered investment advisor serving clients throughout the U.S., and our practice is one of the largest NAPFA financial advisory practices in the some of the markets we serve. On March 31, 2021, TS Prosperity Group, a division of TS Bank, acquired Callahan Financial Planning and together, share the highest level of client care and integrity in financial services as fiduciaries.

Callahan Financial Planning Opens Denver Metro Financial Advisory Office in Centennial, CO

Denver – Jun 12, 2020 – Callahan Financial Planning, a fiduciary financial planning and investment advisory company, has announced the opening of an office with financial advisors in Centennial, CO. The office is located at 6500 S Quebec St, Centennial, CO 80111 in the Denver Tech Center.

Clients will be served by a team of 4 Certified Financial Planner™ (CFP®) practitioners, a Chartered Financial Analyst (CFA®) charterholder, an IRS Enrolled Agent, and supporting staff. Read the rest of this entry »

State Income Tax Relief for Military Spouses In California

If you’re a member of the military, you understand all too well the many difficulties that come with serving your country. One of the more notable challenges is the impact of new permanent change of station (PCS) orders on you and your family. These often require you to move your entire life to a new location, sometimes with limited time to prepare.

On December 31, 2018, legislation was passed through the Veterans Benefits and Transition Act of 2018 (VBTA) creating further opportunities to ease the financial burden that may accompany PCS orders to a new state. This new legislation expanded upon previous provisions under the Military Spouse Residency Relief Act of 2009 (MSRRA) relating to state income taxes.

One of the most significant expansions of this new law was to now allow spouses of active-duty military members to assume the state of residency of the servicemember for income tax purposes without having lived in the state. Read the rest of this entry »

Military Tax Break for Nebraska Residents

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Nebraska offers a wonderful tax break opportunity for retired military members, and is one we commonly use with clients of our Omaha and Lincoln financial advisors.

Military retirees may be eligible to reduce Nebraska income taxes on their military retirement benefits by filing Form 1040N-MIL.

This tax break is available for retired military members who served active duty in any branch of the military, in the National Guard, or as Reservists. For families where both spouses are military members, a Form 1040N-MIL must be filed for each military retiree. Also important to note, Form 1040N-MIL must be filed within two years after the date of separation. Read the rest of this entry »

Callahan Financial Planning Opens San Francisco Financial Advisory Office

San Francisco – Callahan Financial Planning, a fee-only independent personal financial planning and investment management firm with offices throughout the Bay Area, has announced its latest expansion with the addition of a financial advisory office in San Francisco, CA.

“We see this as an incredible opportunity to provide our special fee-only advice to not just those in San Francisco, but also those throughout the peninsula in communities like San Mateo, Redwood City, Palo Alto, South San Francisco, Daly City, along with Oakland and Berkeley in the East Bay”, said Callahan Financial Planning’s Vice President of Financial Planning, Reuben Brauer, CFP®.

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Nebraska 4797N – Special Capital Gains Election for Tax-Free Stock Sales

The Nebraska Special Capital Gains/Extraordinary Dividend Election, elected and claimed on Form 4797N, can provide a substantial tax break for employees who acquire company stock over their years of employment. This election allows employees who own stock in their employer, or former employer, to exclude that stock’s capital gains income from their Nebraska taxable income under certain circumstances.

Nebraska Special Capital Gains Election 4797N can save taxes on capital gains from employee stock

More and more employers are offering stock purchase plans and stock-based compensation to their employees, which can make for an excellent opportunity to avoid state income tax on capital gains from the sale of a stock in Nebraska. Some questions to consider if you (or your company) might benefit from this rare opportunity in Nebraska tax law:

  • Does your employer offer an employee stock purchase program?
  • Do you receive employee stock grants from your employer?
  • Do you own stock in and work for your own company?
  • Did you know that Nebraska offers tax breaks for these situations?

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Tax Rates & Retirement Contribution Limits For Individuals & Married Filers in 2019

As we begin gathering up tax documents in anticipation of filing 2018 tax returns, it is also a good time to look ahead to our expected tax liability for 2019. Now is the perfect time to make any adjustments to withholding rates or retirement contributions for this year.blank

Each year, the IRS adjusts tax brackets to account for inflation. The following brackets took effect on January 1, 2019.

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