October 2020
Understanding The Passive Activity Loss Rules
Are you wondering if the passive activity loss rules affect business ventures you’re engaged in — or might engage in? If the ventures are passive activities, the passive activity loss rules prevent you from deducting [...]
The Easiest Way To Survive An IRS Audit Is To Get Ready In Advance
IRS audit rates are historically low, according to the latest data, but that’s little consolation if your return is among those selected to be examined. But with proper preparation and planning, you should fare well. [...]
IRS Highlights Employer Credits For Businesses During Small Business Week
During Small Business Week, the Internal Revenue Service reminds business owners and self-employed individuals of the employer credits available to them during COVID-19. These credits were specially created to help small business owners during this [...]
California Tax Updates for 10/2
Post 1: California expands its professional exemption. Effective Sept. 9, 2020, this exemption is expanded to include employees who provide instruction for a course or laboratory at colleges and universities in CA. To qualify, an [...]
September 2020
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 [...]