Home sweet home: Do you qualify for office deductions?

Many people started working from home during the pandemic and have continued working out of home offices. Some of them qualify for home office deductions, but unfortunately, not all of them do. Here are the rules. Continue Reading Home sweet home: Do you qualify for office deductions?

Why an LLC might be the best choice of entity for your business

A limited liability company can give you corporate-like protection from creditors while providing the benefits of taxation as a partnership. Can it work for you? Continue Reading Why an LLC might be the best choice of entity for your business

The Inflation Reduction Act includes wide-ranging tax provisions

The Inflation Reduction Act is about to become law. Learn how its tax provisions might affect you. Continue Reading The Inflation Reduction Act includes wide-ranging tax provisions

FTB Error – PTE Refunds Must be Returned

Due to errors by the California Franchise Tax Board (FTB) in its processing of passthrough entity tax payment vouchers, the FTB is erroneously issuing refunds of the 2022 prepayments of the passthrough entity elective tax that were paid with the FTB Form 3893 (PTE) vouchers. Continue Reading FTB Error – PTE Refunds Must be Returned

Estimated tax payments: Who owes them and when is the next one due?

Self-employed taxpayers generally must make quarterly estimated tax payments. But even if you’re not self-employed, you may have to make them to avoid a penalty if you don’t have enough federal tax withheld. Here are the rules. Continue Reading Estimated tax payments: Who owes them and when is the next one due?

Bonus Depreciation: Businesses Should Act Now

If your business plans to purchase bonus depreciation qualifying property, take action soon to realize a valuable tax break. Continue Reading Bonus Depreciation: Businesses Should Act Now

Important Considerations When Engaging in a Like-Kind Exchange

Interested in a “like-kind” exchange of real property? Here are the basic rules. Continue Reading Important Considerations When Engaging in a Like-Kind Exchange

Interested in an Electric Vehicle? How to Qualify for a Powerful Tax Credit

Many people are thinking about buying electric vehicles because of their advanced technology, high gas prices and the fact there are more models available today. Along with factors like acceleration and the battery range, check out the federal tax break that may be available. Continue Reading Interested in an Electric Vehicle? How to Qualify for a Powerful Tax Credit

How Do Taxes Factor into an M&A Transaction?

Buying or selling a business may be the most critical transaction you ever make. If your business is considering merging with or acquiring another business, it’s important to understand how the transaction will be taxed under current law. Here are some considerations. Continue Reading How Do Taxes Factor into an M&A Transaction?