Insights by Author: Jacob Sheffield, CPA, MST

Year-End Tax Planning for Businesses

November 15, 2024

After a few years of relatively mild tax changes for most businesses, post-election results provide more…

Read this Insight...

Corporate Transparency Act: What Small Businesses and Trusts Need to Know About New Reporting Requirements

January 19, 2024

Effective January 1, 2024, millions of privately-owned non-exempt corporations, limited liability companies and limited partnerships will…

Read this Insight...

2022 Year-End Tax Planning for Businesses

November 9, 2022

It’s the time of year when we’re immersing ourselves in fall sports, thinking about the holiday…

Read this Insight...

The Inflation Reduction Act and What It Means for You

September 9, 2022

The Inflation Reduction Act (the Act) was recently signed into law on Aug. 16 and contains…

Read this Insight...

Important Changes to California’s Elective Pass-Through Entity Tax

February 23, 2022

California recently revised its SALT cap workaround to be more appealing for qualifying owners of S…

Read this Insight...

Employees in Other States? Here are the Top Tax Implications to Consider

February 16, 2022

Return-to-office plans remain in a state of limbo as some employers find that a remote work…

Read this Insight...

Year-End Tax Planning for Businesses

November 15, 2021

2021 brought a wave of new tax changes for businesses, and 2022 could bring yet another…

Read this Insight...

On Your Mark, Small Businesses: Get Set to Reserve the 2021 Main Street Hiring Credit

October 28, 2021

The Main Street Hiring Credit has been reenacted for 2021, bringing financial relief to small businesses…

Read this Insight...

How to Claim the Employee Retention Tax Credit

July 16, 2021

Congress created an employee retention tax credit to retain employees on their payroll during the pandemic.…

Read this Insight...

Erroneous Notices from the IRS and States

February 26, 2021

Many clients have received CP59 Notices notifying them about missing Forms 1040 for the tax year 2019. In…

Read this Insight...

How to Leave Your Digital Legacy

As we continue to expand our digital footprint, it is important to incorporate our digital lives ...
Read this insight

Year-End Tax Planning for Individuals

As we closed out the 2018 tax filing season, we saw significant changes over the last ...
Read this insight

Year-End Tax Planning for Businesses

The first year of filing under the new Tax Cuts and Jobs Act (TCJA) is in ...
Read this insight

Crystal Knepler Named One of the 2019 40 Under 40

Congratulations to BPW Tax Manager Crystal Knepler on being named one of the 2019 40 Under ...
Read this insight

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 ...
Read this insight

Expanded Sec. 152 for Dependents

The Tax Cuts and Jobs Act broadened the Child Tax Credit and introduced some big changes ...
Read this insight

IRS Sends Warning Letter to Cryptocurrency Users About Reporting

Taxpayers who exchange cryptocurrency may receive a letter this month from the IRS regarding reporting issues. ...
Read this insight

Team Member Spotlight

Congratulations to our team members on their recent promotions! A total of 13 team members took ...
Read this insight

Uncertain Future for CA Estate Tax

California is currently among 30 states that do not impose a state estate tax. State legislature, ...
Read this insight

Top 5 Real Estate Accounting Mistakes

Even some of the savviest real estate brokers can get trapped in the most common accounting ...
Read this insight

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 ...
Read this insight

Corporations Receive Tax Clarity for Offshore Profits

The IRS released highly-anticipated clarity for multinational corporations on how U.S. tax will be calculated on ...
Read this insight