While everyone is talking about the changes to federal tax law, what about California? California conforms to certain provisions of the Internal Revenue Code (IRC), and its most recent conformity date is January 1, 2015. After the enactment of the… Read More
Donation-Based Crowdfunding
Have you ever made donations to a charity online? Did you use a crowdfunding website, such as GoFundMe? If you have, there’s a chance that you may be unable to deduct those donations on your tax return. Read on to… Read More
Is Cash the Best Gift?
Are you considering making gifts to loved ones or charities? Before you pull out cash to make a gift, consider gifting other assets such as stock and real estate or holding onto those assets and bequeathing them through your estate…. Read More
Making the Right Choice For Your Business: QuickBooks Desktop vs Online
Many new businesses often find themselves asking which version of QuickBooks is right for them and unfortunately the answer isn’t always simple. When deciding whether to use QuickBooks Desktop or QuickBooks Online, there are several important factors that should be… Read More
Understanding the Basics of Basis
If you own any investment, you’ve likely heard the word basis. It can be a complicated concept, but it boils down to one simple idea, namely what your economic interest is in an investment. For example, if you purchase stock… Read More
Transportation Fringe Benefits May Not Drive Up Your UBIT
When the Tax Cuts and Jobs Act originally added the nonprofit transportation (primarily parking) tax, most entities were worried that they would be subject to additional taxes. However, new guidance was issued in December of 2018 clarifying the tax and… Read More
Estate Taxes Hurt! Think About a QPRT!
Living in beautiful San Diego, it should not come as a surprise that there are homes in neighborhoods like Del Mar and Rancho Santa Fe that are valued anywhere from $1 million to upwards of $20 million. If you own… Read More
Audit Requirements for Employee Benefit Plans
Does your employee benefit plan require an audit? The U.S. Department of Labor (“DOL”) generally requires all large plans file audited financial statements with the plan’s tax filing of Form 5500. A large plan is defined as a plan with… Read More
Are You Subject to AMT Under the New Tax Law?
The Tax Cuts and Jobs Act of 2017 made many changes to the individual tax law, including many changes affecting alternative minimum tax, or AMT. The Act significantly increased AMT exemption amounts along with the associated phase-out thresholds. With the… Read More
Risk Assessment: Have You Considered Risk in Your Business Decisions?
There are pivotal decisions made in our lives and careers that can lead to undesired consequences. Often, these undesired consequences can be mitigated by assessing risk on a regular basis before decisions are made. Risk assessment is a great tool… Read More
