The 2017 Tax Cuts and Jobs Act enhanced federal tax deductions for the purchase or improvement of certain assets used in a business.  This article discusses changes to bonus depreciation and Section 179 asset expensing, as well as a refresher… Read More

Do you own a business organized as an LLC, sole proprietorship, partnership, S corporation, or any structure other than a C corporation?  If so, you may be able to claim a tax deduction of up to 20% of the business’s… Read More

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

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

Properly accounting for your business activities can be just as confusing as it is important. The financial statements that you provide to us each year serve as our map to completing your business tax returns. Read on for tips on… Read More

Starting a new business is exciting, but understanding what comes next and staying on top of your “regulatory to-do list” can be challenging. Read on for a sample checklist and description of each task you should be aware of to… Read More

Depreciation is a powerful tax deduction.  For personal property used in a business—think equipment, computers, furniture, machinery etc.—current tax law allows for depreciation to be claimed at a very accelerated pace.  In many cases 100% of an asset’s cost can… Read More

When the Tax Cuts and Jobs Act was placed into law on December 22, 2017, it introduced new limitations on the deductibility of business interest expenses under section 163(j). Business interest expense refers to interest paid or accrued in the… Read More

One aspect of The Tax Cuts and Jobs Act that may unexpectedly impact your business is the amendment to make “Qualified Transportation Fringes” nondeductible for tax purposes. Under the new tax law, expenses such as providing your employees with a… Read More

The Tax Cuts and Jobs Act made changes to how net operating losses and business losses are treated. If your business activity will generate a loss in any tax year, or you think you might have a net operating loss… Read More