Cash in on Depreciation Tax Savers
As we approach the end of the year, it’s a good time to think about whether your business needs to buy business equipment and […]
Tax Breaks When Buying a Heavy SUV for Business
Are you considering replacing a car that you’re using in your business? There are several tax implications to keep in mind.
No Deduction in California for Expenditures Paid with Forgiven PPP Funds
With the prospect that ordinarily tax deductible business expenses will still be deductible if they were paid for with forgiven PPP loan funds contained in the Coronavirus […]
Reminder for Businesses to Register with CalSavers
California has begun their mandate of employer participation in the CalSavers Program. The program’s 3-year phase-in is as follows:
The Importance of S Corporation Basis and Distribution Elections
S corporations can provide tax advantages over C corporations in the right circumstances. This is true if you expect that the business will incur losses in its […]
5 Ways to Take Cash Out of Your Corporation
Owners of closely held corporations are often interested in easily withdrawing money from their businesses at the lowest possible tax cost. The simplest way is to distribute cash as […]
Health Savings Account for Your Small Business
Small business owners are well aware of the increasing cost of employee health care benefits. As a result, your business may be interested in providing some of […]
QBI Deduction Basics and Year-End Tax Tip
If you own a business, you may wonder if you’re eligible to take the qualified business income (QBI) deduction. Sometimes this is referred to as the pass-through […]
Tax Responsibilities of COVID-Closed Businesses
Unfortunately, the COVID-19 pandemic has forced many businesses to shut down. If this is your situation, we’re here to assist you in any way […]
IRS Issues Guidance on Deductibility of PPP Loan-Funded Expenditures
Timing of Non-Deductibility of Forgiven PPP Loan-Funded Expenditures
In guidance issued on 11/18/2020, the IRS has made it […]
