This month, Senate Bill 113 (SB 113) was signed into law by Governor Newsom and holds significant California tax law changes, comprised of the reinstatement of business tax credits and […]
If you run a business and accept payments through third-party networks such as Zelle, Venmo, Square, or PayPal, you could be affected by new tax reporting requirements that take effect […]
California passed Assembly Bill 150 (AB 150), which allows qualified S corporations, partnerships, or LLCs to pay tax on their individual, trust, or estate owners’ share of the entity’s qualified […]
The IRS recently issued its 2022 cost-of-living adjustments for more than 60 tax provisions. With inflation up significantly this year, mainly due to the COVID-19 pandemic, many amounts increased considerably […]
Using a series of how-to videos, the IRS is helping taxpayers avoid potential scams by applying for an Offer in Compromise (OIC) themselves rather than relying on unscrupulous third-party services. […]
The IRS has announced that beginning January 1, 2022, it will close several individual payment P.O. Boxes in the San Francisco, California, and Hartford, Connecticut, areas. These P.O. Boxes are […]
What if you decide to, or are asked to, guarantee a loan to your corporation? Before agreeing to act as a guarantor, endorser, or Indemnitor of a debt obligation of […]
If your business receives large amounts of cash or cash equivalents, you may be required to report these transactions to the IRS. What are the requirements? Each person who, in […]
A business may be able to claim a federal income tax deduction for a theft loss. But does embezzlement count as theft? In most cases it does but you’ll have […]
