Since the new tax law, also known as the Tax Cut and Jobs Act (“TCJA”), was enacted by Congress and signed into law in December of 2017, the IRS has begun to issue some clarifications on portions of the law. On October 3, 2018 the IRS issued Notice 2018-76 which Read more…
How Tax Cuts and Jobs Act (TCJA) Effects Charitable Donations on Your 2018 Tax Return With the passing of the Tax Cuts and Jobs Act (TCJA), it’s estimated that the number of taxpayers who will itemize on their 2018 tax return will fall by more than half compared to 2017. Read more…
On April 30th 2018, the California Supreme Court formally issued their opinion of the highly anticipated case, Dynamex Operations West, Inc. v. Superior Court of Los Angeles County. The purpose of this case is to determine the most appropriate classification of a worker by using (a) the employee criteria established Read more…
Effective for taxable years starting after December 31, 2015 partnership returns will be due March 15th and C corporation returns will be due April 15th. This is a swap from previous year due dates. Selected return changes are below. 2016 Tax Return Due Dates (download a .pdf version of the graphic) Read more…
It’s likely that big tax changes are on the horizon. It’s unknown at this time when these taw lax changes will be effective, but most likely they will be spread out during 2017 and 2018. Individual Tax Changes Trump’s plan would simplify the current 7 tax brackets to 3 brackets. Read more…
Does your business plan include considering a move to a new state, adding a new location, or perhaps just adding onto your building? Are you planning to hire anyone in 2017? Is your business ready to grow? If you plan to hire as few as 3 new employees over the Read more…
Nevada Implements New Gross Receipts Tax On July 1, 2015, Nevada imposed a new “Commerce Tax” on the gross receipts of businesses with at least $4 million in revenue (not net income) in Nevada for the taxable fiscal year July 1, 2015 through June 30, 2016. The surprise is that Read more…