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Electronic Vehicle Tax 2023

2022 and 2023 Electric Vehicles Tax Credits

January 19, 2023

Pam Bustos

Many of our clients own or want to buy a plug-in electric vehicle (EV) or Fuel Cell Vehicle (FCV). And we’ve gotten a lot of questions about how this affects taxes as we embark on tax season. Most importantly, the IRS has changed the “New Clean Vehicles” tax credits for 2022 or before, and 2023…

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Our Articles

Employer-Provided Retirement Plan: New Law Updates Effective Immediately

Employer-Provided Retirement Plan: New Law Updates Effective Immediately

January 16, 2023

President Biden signed the 2023 Consolidated Appropriations Act (CAA) on January 3, 2023. Our goal below is to summarize some of the Act’s key provisions we feel are impacting employer-provided retirement plans. Ten Key Changes 1. Catch-up contribution changes: Starting in 2024, catch-up contributions to retirement plans must be designated as Roth contributions for participants with…

IRS Extends April 18 Tax Deadline to May 15 for California Storm Victims

IRS Extends April 18 Tax Deadline to May 15 for California Storm Victims

January 12, 2023

The IRS announced on Tuesday, January 11, 2023 that for a number of counties in California, they have extended the upcoming tax deadline to May 15, 2023. Within the notice the IRS stated: Victims of severe winter storms, flooding, and mudslides in California beginning January 8, 2023, now have until May 15, 2023, to file…

Accounts Payable cash flow

DO NOT PAY YOUR BILLS TOO EARLY! Cash Flow and Accounts Payable Relationship

December 22, 2022

It’s always good to be reminded of sound business principles. This is one of those. You SHOULD NOT pay your bills too early! We know. Your mom and dad taught you to pay your bills on time to have a good credit rating. That’s still good advice, but when you’re running a business, while you…

Multi-State Tax Issues

Multi-State Tax Issues — What You Don’t Know Can Hurt You!

December 16, 2022

Misconceptions, Facts, Definitions, and TIPS We’re learning that some companies’ owners and managers are unaware of their tax liabilities in states other than where they’re physically located. Plus, a fair number of organizations think only about federal and state income tax for their satellite offices, which is incorrect and short-sighted. Misconceptions One of the misconceptions…

Local Government Agency Doesn’t Get Hacked

Best Practices for Ensuring Your Local Government Agency Doesn’t Get Hacked

December 9, 2022

Recently, some of our government clients have asked us how to tell if their financial software offers good internal controls and protects their data adequately. They further wondered if their existing financial software needed to be upgraded and, if so, what the exposures could be if they did. Their concerns are valid—and universal. Few organizations…

Middle Cass Tax Refund

CA Middle-Class Tax Refund: Are you eligible?

December 1, 2022

You Might Have a Holiday Gift AND It’s More Generous Than We Thought! What is it and how do you get it? Please read on. WHAT is the Middle-Class Tax Refund? The Middle-Class Tax Refund (MCTR) is a one-time payment to provide relief to Californians. If you are eligible, you will automatically receive a payment….

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