We want to make sure you know about the latest COVID-19 relief factors for your businesses. For U.S. businesses with fewer than 500 employees, the Treasury Department, the Internal Revenue Service, and the Labor Department announced that these small and mid-sized employers could start taking advantage of two new refundable 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…
Cramped on space and understaffed? Considering a move to a new state or perhaps just adding onto your building? Is your business ready to grow? If you plan to hire as few as 3 new employees over the next five years, or spend $20,000 or more in capital improvements, please Read more…
It seems every year Congress waits until the last moment to enact extensions on tax breaks that have expired. In the meantime, here are some tips for businesses to consider to reduce 2015 taxes: Defer income to 2016 Cash method businesses should consider delaying sending their invoices in order to Read more…
The governor’s new tax credit package for businesses includes the California Competes Credit, a credit against corporate tax for California business owners who plan to grow or expand their business within the state. Any business can apply for the credit. It is available statewide for all industries. These tax credits Read more…
When Congress passes an act that could affect our client’s tax returns and financial interests, the tax team at LSL CPAs makes it a priority to keep you informed. On December 16, the Senate passed a bill that retroactively extended a multitude of expired tax provisions through 2014. Previously approved Read more…
When planning your year-end charitable giving, don’t forget one new opportunity for California businesses and individuals that pays you back – the College Access Tax Credit. To increase funding for Cal Grant B Access awards to college students, the California Educational Facilities Authority (CEFA) has teamed up with the Franchise Read more…
The governor’s new tax credit package for businesses in 2014 includes the California Competes Credit, a credit against corporate tax for California business owners who plan to grow or expand their business within the state. Any business can apply for the credit. It is available statewide for all industries. These Read more…
Do you work from home? In prior years, taking the home office deduction required keeping meticulous records, calculating the business use percentage of your home expenses, and depreciating a portion of your residence. Starting in 2013, taxpayers may choose a new Simplified Option for IRS Home Office Deduction, that requires Read more…
. With the State’s Assembly passage of AB 93 on June 27, 2013, the EZ program is being wound down and replaced with a new set of incentives which will be statewide in application.