Where’s My Refund?
The IRS has reminded taxpayers that they can quickly check the status of their tax return and refund through "Where's My Refund?" on IRS.gov or on the smartphone application IRS2Go. Initial information will normally be [...]
Claiming a Tax Deduction for Medical and Dental Expenses
Your medical expenses may save you money at tax time, but a few key rules apply. Here are some tax tips to help you determine if you can claim a tax deduction: You must itemize. [...]
Manufacturing and Research & Development Equipment Exemption
Beginning on July 1, 2014, manufacturers and certain research and developers may qualify for a partial exemption of sales and use tax on certain manufacturing and research and development equipment purchases and leases. To be [...]
Changes to Small Business Health Care Tax Credit
Small employers should be aware of changes to the small business health care tax credit, a provision in the Affordable Care Act that gives a tax credit to eligible small employers who provide health care [...]
Update Regarding the Tangible Property Regulations
Update: The IRS issued Revenue Procedure 2015-20 0n Friday, February 13, effective for tax years beginning on or after January 1, 2014, that provide a “small business exception” for taxpayers to adopt the tangible property regulations [...]
Understanding the Value of Next-Gen Cost Segregation Studies
Cost segregation studies involve identifying personal property assets with shorter tax depreciation lives (i.e. 5 or 7 years) that have been grouped with real property assets (typically 39 year) and separating these out for tax [...]
Beware: IRS Scams in Full Swing
Does the above email look familiar? Hope not, because what might look like a legit email from the IRS is nothing more than another phishing attempt by people looking to collect [...]
Tangible Property Regulations That Will Effect Every Business and Property Owner
Deducting and capitalizing business expenses under final regs An important development this year will affect every business, including yours. The IRS has issued long-awaited regs on the tax treatment of amounts paid to acquire, produce, [...]
Impacts of the Affordable Care Act on Employer/ Business Owner
Beginning in 2015, if you employ at least 100 full-time employees or full-time equivalents (and after 2015, at least 50 full-time employees or equivalents), you may become subject to the employer mandate that was enacted [...]
The Personal Impact of the Affordable Care Act
Open enrollment for 2015 for Covered California closes on February 15th. Open enrollment is the one-time during the year when most Californians who need insurance cannot be denied by a health plan and when millions [...]