Insights by Author: Jacob Sheffield, CPA, MST

Update on the Corporate Transparency Act: Court Suspends Reporting Requirements for Businesses

December 10, 2024

Less than one month before the Corporate Transparency Act’s (CTA) Beneficial Ownership Information (BOI) reporting deadline,…

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…

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…

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…

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…

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…

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…

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…

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…

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.…

Advantages of a Cost Segregation Study

Whether putting up a new building or renovating an existing one, companies are discovering that they ...
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Pass-Through Entity Updates Webinar

We have been closely following the new filing requirements being issued from the IRS, as well ...
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Tax Alert Webinar: Find Out What the New IRS Guidance and CA Tax Law Changes Mean for Your Business

Thursday, March 3 1:00pmLive Webinar   SIGN UP NOW   Are you curious about…how California's recently ...
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Important Changes to California’s Elective Pass-Through Entity Tax

California recently revised its SALT cap workaround to be more appealing for qualifying owners of S ...
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What You Need to Know About the Child Tax Credit and Economic Impact Payment Notices

Many taxpayers have already received IRS Letters 6419 and 6475 containing details about their 2021 advance ...
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Employees in Other States? Here are the Top Tax Implications to Consider

Return-to-office plans remain in a state of limbo as some employers find that a remote work ...
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How are Trusts Taxed?

three generation happy asian family walking outdoors in park A trust can be a powerful estate-planning ...
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Tax Breaks for the Elderly

Getting older has its perks, including tax breaks. Your income threshold for filing a tax return ...
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IRS Announces 2022 Limits for Retirement Plans

The IRS has announced the new retirement plan numbers for 2022.Retirement limits for 401(k) and similar ...
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What Papers do You Need to Save?

Sometimes it feels good to get rid of clutter, especially this time of year when the ...
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DOL Reveals Key Change for Tipped Workers

Employees in occupations where gratuities are common, such as restaurant waitstaff, have long fallen into a ...
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Section 174 Research Deduction Changes for 2022

Have you been deducting your R&D expenses as they occur? Starting in the new year, that ...
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