Year-End Tax Planning for Individuals
As we closed out the 2018 tax filing season, we saw significant changes over the last year with most of the tax provisions in the Tax Cuts and Jobs Act...
Required Reporting on Cooperative Commissions in Real Estate Transactions
If you are a real estate broker or agent, you may not be aware of the IRS reporting requirements surrounding cooperative commissions. This article explains what you need to know...
Lingering Uncertainties Post Tax Season
Now that April 15 has come and gone, have all of our tax reform questions been answered? Many taxpayers (and accountants) are still sifting through the changes and awaiting additional...
Year-End Tax Planning for Individuals
The Tax Cuts and Jobs Act introduced over 130 new provisions affecting both individuals and businesses alike. As we transition into year-end tax planning, our attention turns to helping clients...
Cost Segregation Now More Important in New Tax Reform Landscape
With changes to bonus depreciation in the Tax Cuts and Jobs Act (the Act), cost segregation has now become an essential ingredient for commercial real estate owners and investors to...
Tax Reform Bill Signed into Law
President Trump signed the sweeping 2018 tax reform bill into law last Friday, with most provisions taking effect on January 1, 2018. The following article identifies key changes in the...
Year-End Tax Planning for Individuals
As we gear up for year-end tax planning, we take a look at Trump’s recently-released tax reform proposal and a few key time-honored approaches to guide your planning strategies. Tax...
Court Decision Favors Assessor Over Owner in Land vs. Building Valuation
The U.S. Tax Court recently ruled in support of the Los Angeles County Tax Assessor’s valuation of rental property improvements over the property owner’s proposed values. In the case of...
2015 Tax Extenders Passed
On December 18, the Senate passed — and the President signed into law — the Protecting Americans from Tax Hikes Act of 2015 (PATH Act), which the House had passed...
IRS Increases Tangible Property Expensing Threshold for Small Businesses
Good news for small businesses: On November 24, 2015, the IRS announced an increase in the safe harbor threshold for deducting certain capital items, raising it from $500 to $2,500,...
2023 Year-End Tax Planning for Businesses
As businesses work to rebound after a challenging few years, strategic year-end tax planning has never been more important. With 2024 around the corner, it’s essential for businesses to be...
Key Tax Considerations for Real Estate Investors in 2023
Real estate investors should weigh important issues and changes in real estate taxation to strategically position their investments. Following, we highlight key tax considerations for real estate investors in 2023....
Year-End Tax Planning for Individuals
As we near the end of another turbulent year, it’s time to discuss the steps you need to take to reduce your tax burden for 2021 (and beyond). Unlike other...
Proposed Tax Increases on the Horizon
President Biden presented the American Families Plan in an April 28, 2021 address to Congress, which he proposed a federal spending program to support new educational and family programs.The plan...
COVID-19 Resource Guide: Everything You Need in One Place
Office Updates While BPW is categorized as an essential business due to the importance of tax filing and compliance services, our physical office is closed, but we are all successfully...
BPW Moves Forward with April 15 Deadline
The IRS and California Franchise Tax Board recently announced that the income tax filing deadline for individual 2020 tax returns and payments has been extended from April 15, 2021 to...
New Stimulus Package: What You Need to Know
The third stimulus package valued at $1.9 trillion made its debut last week after President Biden signed the relief into law on Thursday, March 11, 2021. The American Rescue Plan...
Update on Coronavirus Relief Programs
New Tax Relief & Grants will Support Businesses Impacted by COVID-19 As businesses and taxpayers continue to feel the effects of the pandemic into the new year, additional relief programs and assistance...
Year-End Tax Planning for Individuals
We recognize the impact this unimaginable year has had on all of us. There have been immeasurable shifts in our society, but our unwavering commitment to help guide you through...
Income Tax Relief in Response to COVID-19 Outbreak
On March 20, 2020, the IRS extended the federal tax filing deadline to July 15, 2020, three months after the normal April 15, 2020 deadline, to give all individuals and...