Individuals and businesses located in California may qualify for tax relief. California storm victims now have until May 15, 2023, to file various federal forms and make tax payments. Continue Reading IRS grants filing and payment extensions to California storm victims
Have you heard ads on TV telling businesses how they can claim a huge Employee Retention Credit? It might be possible for some employers but it also might be too good to be true. Continue Reading Employers should be wary of ERC claims that are too good to be true
Want to save more for retirement? You might be able to with the many changes in a new law signed on Dec. 29, 2022. Continue Reading SECURE 2.0 law may make you more secure in retirement
Tucked into the Consolidated Appropriations Act of 2023 is a package of enhanced retirement benefits, otherwise known as the SECURE 2.0 Act. Here are some of the provisions. Continue Reading SECURE 2.0: Year-end spending package tackles retirement planning and tax shelters
Businesses face a variety of tax-related deadlines in the first quarter of 2023. Here are some of them. Continue Reading 2023 Q1 tax calendar: Key deadlines for businesses and other employers
Owners of pass-through businesses may be able to save tax with the valuable QBI deduction by taking certain steps at year-end. Continue Reading Do you qualify for the QBI deduction? And can you do anything by year-end to help qualify?
If you’re starting a new business, you may wonder if you should operate as a C corporation, an S corporation or another entity. Here’s a summary of what will happen if you choose a C corporation. Continue Reading Choosing a business entity? Here are the pros and cons of a C corporation
For many of your nonprofit’s staffers, high inflation equals high anxiety. In this time of economic uncertainty, prioritize candid communications so employees’ worries won’t affect their work. Continue Reading Operating reserves can help cushion financial blows
Many people like to give thanks at this time of year by donating to their favorite charities. Here are the basic 2022 rules for charitable contributions and gifts to loved ones. Continue Reading Year-end giving to charity or loved ones
A physical inventory count gives a snapshot of how much inventory your company has on hand at year end. Are you ready to start counting? Continue Reading Preparing for year-end inventory counts
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
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
How much is the standard deduction in 2023? How much do you have to earn this year before you can stop paying Social Security on your salary? Here are some Q&As about these and other tax-related amounts for 2023. Continue Reading Answers to your questions about 2023 limits on individual taxes
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