Category Archives: Tax & Financial Services

Have you inherited an IRA or retirement plan account after 2019 from someone other than your spouse?

If you inherited an IRA or retirement plan account after 12/31/19, you are required to...

Rules for Paying Your Kids to Work In Your Business

Recently, one of our clients wanted to know the rules for hiring their children in...

2022 and 2023 Electric Vehicles Tax Credits

Many of our clients own or want to buy a plug-in electric vehicle (EV) or...

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

The IRS announced on Tuesday, January 11, 2023 that for a number of counties in...

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

Misconceptions, Facts, Definitions, and TIPS We’re learning that some companies’ owners and managers are unaware...

CA Middle-Class Tax Refund: Are you eligible?

You Might Have a Holiday Gift AND It’s More Generous Than We Thought! What is...

Why You Should Keep Funds in Your HSA Account and Not Withdraw Them

To withdraw or not to withdraw funds from your HSA: what should you do? We...

Temporary 100% “Bonus Depreciation” Decreases by 20% Per Year Starting in 2023

If you were planning to buy equipment anyway, DO IT NOW to take advantage of...

Inflation Reduction Act of 2022: How It Impacts Businesses and Individuals

Passed on August 16, 2022, the Inflation Reduction Act of 2022 replaces President Biden’s proposed...

What’s better than a Memorial Day sale? How about a discount on your 2022 California business income taxes?

Q:  What’s better than a Memorial Day sale? A:  A day at the beach?  The...

Business Meals Are Deductible at 100%: Until December 31, 2022

As part of the Taxpayer Certainty and Disaster Relief Act of 2020, the Treasury Department...

FASB Votes Against Extending the Lease Accounting Standard Due Date

Private Companies and Non-Profits Must Comply by Original Deadline. The Financial Accounting Standards Board FASB rejected...

ERC Employee Retention Credit REPEALED for Q4 – Don’t Panic!

Introduction You have probably heard that the Infrastructure Investment and Jobs Act signed into law...

Eliminate the ‘SALT’ Deduction Cap?

What does SALT stand for, and what are the Pros and Cons? SALT is an...

Real Estate Investors and Owners may be eligible for Energy-Efficient Home Tax Credit

Section 45L Energy-Efficient Home Tax Credit Extended to December 31, 2021 The 45L tax credit...