Benefits of a living trust for your estate
You’ve probably heard that you should avoid probate in estate planning. But what does that mean and how is it done? Continue Reading Benefits of a living trust for your estate
Achieving the right balance of working capital
Do you know the three keys to lowering your company’s working capital requirements? Continue Reading Achieving the right balance of working capital
Questions you may still have after filing your tax return
Even if you filed your 2022 tax return by the deadline, you may still have questions. We’re often asked about refund status, how long to keep records and when an amended tax return should be filed. Here are some answers. Continue Reading Questions you may still have after filing your tax return
4 ways corporate business owners can help ensure their compensation is “reasonable”
C corporation owners: To keep your compensation tax deductible, you need to ensure it’s “reasonable.” Otherwise, it could be deemed a dividend. Here are four steps to take. Continue Reading 4 ways corporate business owners can help ensure their compensation is “reasonable”
New Business Ownership Reporting in 2024
Starting in 2024 (or 2023 for newly formed entities), corporations, limited liability companies (LLCs), limited partnerships, and other entities that file formation papers with a state’s Secretary of State’s office (or similar government agency) must file a report with the Financial Crimes Enforcement Network (FinCEN) of the U.S. Treasury Department providing specified information regarding the entity’s “beneficial owners.” Continue Reading New Business Ownership Reporting in 2024
There’s a favorable “stepped-up basis” if you inherit property
If you’ve inherited assets or you’re planning your estate, it’s crucial to understand the “step-up” basis rules. Continue Reading There’s a favorable “stepped-up basis” if you inherit property
Nonprofits: 4 ratios worth watching
What if we told you that only four ratios mattered when it came to managing your nonprofit? OK, that would be an exaggeration. But there are four measures that generally matter more than the rest. Continue Reading Nonprofits: 4 ratios worth watching
Choosing an entity for your business? How about an S corporation?
There are several choices of entities for a new business venture. What about an S corporation? Here are the advantages. Continue Reading Choosing an entity for your business? How about an S corporation?
Changes in Sec. 174 make it a good time to review the R&E strategy of your business
A tax law that passed in 2017 makes a major change to Section 174 research and experimental (R&E) expenses. Here’s what it might mean for your 2022 business tax return being filed this year. Continue Reading Changes in Sec. 174 make it a good time to review the R&E strategy of your business
Additional Tax Relief Provided for Californians Impacted by Winter Storms
The California Franchise Tax Board is conforming to the IRS’s postponement of filing and payment deadlines to October 16, 2023, for taxpayers located in most California counties due to the recent winter storms. Continue Reading Additional Tax Relief Provided for Californians Impacted by Winter Storms