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Franchise Tax Board conforms to IRS filing extensions for California storm victims

On January 13, the Governor’s office announced that California will conform to the IRS filing extensions granted for California individual and business taxpayers impacted by recent storms. This means the Franchise Tax Board has extended filing and payment deadlines for many taxpayers in California until May 15, 2023.

IRS grants filing and payment extensions to California storm victims

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.

Employers should be wary of ERC claims that are too good to be true

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.

SECURE 2.0 law may make you more secure in retirement

Want to save more for retirement? You might be able to with the many changes in a new law signed on Dec. 29, 2022.

SECURE 2.0: Year-end spending package tackles retirement planning and tax shelters

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.

2023 Q1 tax calendar: Key deadlines for businesses and other employers

Businesses face a variety of tax-related deadlines in the first quarter of 2023. Here are some of them.

Do you qualify for the QBI deduction? And can you do anything by year-end to help qualify?

Owners of pass-through businesses may be able to save tax with the valuable QBI deduction by taking certain steps at year-end.

Choosing a business entity? Here are the pros and cons of a C corporation

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.

Operating reserves can help cushion financial blows

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.

Insights

Advantages of keeping your business separate from its real estate

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It may be advantageous to separate ownership of a business’s real estate from the business. But it isn’t always advisable. Here’s a look at the issues. Continue Reading Advantages of keeping your business separate from its real estate

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Cutoffs: When to report revenue and expenses

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Does your company follow the cutoff rules? Loose interpretation of the accounting rules can lead to errors and unexpected audit adjustments. Here’s how to get it right. Continue Reading Cutoffs: When to report revenue and expenses

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Help ensure your partnership or LLC complies with tax law

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Guaranteed payments to partners and payments to retired partners are just two of the tax issues that should be addressed in your partnership (or LLC operating) agreement. Here are the details. Continue Reading Help ensure your partnership or LLC complies with tax law

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