February 2022
Are You Ready for the 2021 Gift Tax Return Deadline?
If you made large gifts to your children, grandchildren or other heirs last year, it’s important to determine whether you’re required to file a 2021 gift tax return. And in some cases, even if it’s [...]
Can You Deduct the Costs of a Spouse on a Business Trip?
If you own your own company and travel for business, you may wonder whether you can deduct the costs of having your spouse accompany you on trips. The rules for deducting a spouse’s travel costs [...]
Prudent Technology Upgrades Call For Some Soul Searching
By now, most business owners view technology upgrades as inevitable. Whether hardware or software, the tech your company relies on to operate will need to change slightly or even drastically for you to stay competitive. [...]
Married Couples Filing Separate Tax Returns: Why Would They Do It?
If you’re married, you may wonder whether you should file joint or separate tax returns. The answer depends on your individual tax situation. In general, it depends on which filing status results in the lowest [...]
Making Withdrawals From Your Closely Held Corporation That Aren’t Taxed As Dividends
Do you want to withdraw cash from your closely held corporation at a minimum tax cost? The simplest way is to distribute cash as a dividend. However, a dividend distribution isn’t tax-efficient since it’s taxable [...]
California Governor Signs Two Major Bills: SB 113 and SB 114
Today, California Governor Gavin Newsom signed SB 113, which expands the passthrough entity elective tax benefits by: Repealing the tentative minimum tax limitation on the Passthrough Entity Elective Tax Credit; Allowing partnerships/S corporations/LLCs with owners [...]