Section 174 Research Deduction Changes for 2022
Have you been deducting your R&D expenses as they occur? Starting in the new year, that option is obsolete pending any legislation change for year end. You will have to...
Can I Claim a Home Office Deduction During COVID?
Many of us have rearranged, redecorated, or reimagined our homes to convert them into office spaces this year. This new swell of people working remotely has sparked questions regarding home...
Tax Tips for Law Firms
Whether you're a partner or an associate in a law firm, the IRS has rules that apply specifically to you as well as several opportunities. Following is a list of...
Tax Deductions from Land Donations Under Scrutiny
The IRS announced that they will be keeping a watchful eye on certain land donation deals that receive significant tax deductions. This pronouncement was disclosed in IRS Notice 2017-10 and...
CA, You’re Not Alone – Treasury Bans All SALT Deduction Workarounds
The Treasury Department and the IRS recently issued final regulations blocking all states from trying to circumvent the tax reform’s $10,000 cap on state and local tax deductions. In September...
IRS Released Safe Harbor Guidance for Vehicle Deductions
The IRS recently released a safe harbor method that harmonizes 100% bonus depreciation with the annual depreciation limits for passenger automobiles (other than leased vehicles). Passenger automobiles are defined as...
Teach Them Young – How to Leverage Summer Job Salaries
If you want to teach your child the value of a dollar this summer, take a look at some interesting tips on how they can leverage their summer job salaries....
New Bill Delays Three Taxes
The president signed a “continuing resolution” on January 22, delaying three health-related taxes: the medical device excise tax, the Cadillac tax and the health insurance tax. Medical Device Tax Just...
New Option for Claiming Research Credit
The IRS recently provided interim guidance to qualified small businesses on a new option for claiming the research credit. Eligible businesses are now able to offset payroll taxes by applying...
CA Partial Sales and Use Tax Exemption
As a way to encourage economic growth in California, a new tax law recently went into effect that may offer significant savings for your business. The new California partial sales...
Section 174 Research Deduction Changes for 2022
Have you been deducting your R&D expenses as they occur? Starting in the new year, that option is obsolete pending any legislation change for year end. You will have to...
Can I Claim a Home Office Deduction During COVID?
Many of us have rearranged, redecorated, or reimagined our homes to convert them into office spaces this year. This new swell of people working remotely has sparked questions regarding home...
Tax Tips for Law Firms
Whether you're a partner or an associate in a law firm, the IRS has rules that apply specifically to you as well as several opportunities. Following is a list of...
Tax Deductions from Land Donations Under Scrutiny
The IRS announced that they will be keeping a watchful eye on certain land donation deals that receive significant tax deductions. This pronouncement was disclosed in IRS Notice 2017-10 and...
CA, You’re Not Alone – Treasury Bans All SALT Deduction Workarounds
The Treasury Department and the IRS recently issued final regulations blocking all states from trying to circumvent the tax reform’s $10,000 cap on state and local tax deductions. In September...
IRS Released Safe Harbor Guidance for Vehicle Deductions
The IRS recently released a safe harbor method that harmonizes 100% bonus depreciation with the annual depreciation limits for passenger automobiles (other than leased vehicles). Passenger automobiles are defined as...
Teach Them Young – How to Leverage Summer Job Salaries
If you want to teach your child the value of a dollar this summer, take a look at some interesting tips on how they can leverage their summer job salaries....
New Bill Delays Three Taxes
The president signed a “continuing resolution” on January 22, delaying three health-related taxes: the medical device excise tax, the Cadillac tax and the health insurance tax. Medical Device Tax Just...
New Option for Claiming Research Credit
The IRS recently provided interim guidance to qualified small businesses on a new option for claiming the research credit. Eligible businesses are now able to offset payroll taxes by applying...
CA Partial Sales and Use Tax Exemption
As a way to encourage economic growth in California, a new tax law recently went into effect that may offer significant savings for your business. The new California partial sales...