Why It’s Important To Plan For Income Taxes As Part Of Your Estate Plan
As a result of the current estate tax exemption amount ($11.58 million in 2020), many estates no longer need to be concerned with federal estate tax. Before 2011, a much smaller amount resulted in estate [...]
The Tax Rules For Deducting The Computer Software Costs Of Your Business
Do you buy or lease computer software to use in your business? Do you develop computer software for use in your business, or for sale or lease to others? Then you should be aware of [...]
IRS Announces Per Diem Rates For Business Travel
In Notice 2020-71, the IRS recently announced per diem rates that can be used to substantiate the amount of business expenses incurred for travel away from home on or after October 1, 2020. Employers using [...]
California Tax Updates for 9/24
Post 1: Changes are being made in how California determines whether a worker is an employee or an independent contractor. Under the CA Labor Code, effective 9/4/2020, a three-part test is required, commonly known as [...]
Thank You Team! Best Place to Work Winner for 2020
Thank You! For the 10th year in a row, we've been honored to win the Best Place to Work Award by the North Bay Business Journal. This award is truly a testimony to the amazing [...]
Can Investors Who Manage Their Own Portfolios Deduct Related Expenses?
In some cases, investors have significant related expenses, such as the cost of subscriptions to financial periodicals and clerical expenses. Are they tax deductible? Under the Tax Cut and Jobs Act, these expenses aren’t deductible [...]
Weighing The Risks Vs. Rewards Of A Mezzanine Loan
To say that most small to midsize businesses have at least considered taking out a loan this year would probably be an understatement. The economic impact of the COVID-19 pandemic has lowered many companies’ revenue [...]
Tax Implications Of Working From Home And Collecting Unemployment
COVID-19 has changed our lives in many ways, and some of the changes have tax implications. Here is basic information about two common situations. 1. Working from home. Many employees have been told not to [...]
California Tax Updates for 9/15
Post 1: Emergency tax relief is available for business owners and feepayers directly affected by declared disasters, through the California Dept. of Tax and Fee Administration (CDTFA). “Thank you to the President for your partnership [...]
Employers Have Questions And Concerns About Deferring Employees’ Social Security Taxes
The IRS has provided guidance to employers regarding the recent presidential action to allow employers to defer the withholding, deposit and payment of certain payroll tax obligations. The three-page guidance in Notice 2020-65 was issued [...]