March 2, 2021 President Biden’s Tax Plan Could Raise Taxes on Corporations and the Wealthy
It was not the centerpiece of his campaign, but President Joe Biden took office in January touting a tax plan... View Article
Government
March 2, 2021 The Federal Export Incentives Offered IC-DISCs Provide Businesses with Significant Tax Savings
Export incentives are assistance provided by governments to help businesses sell products in foreign markets. The only federal export incentive... View Article
The Property Tax Government Foreclosure Process
Late Payment of Property Tax Bill Results in an Immediate Lien, but Owners have Five Years to Pay Before it... View Article
The Tax Implications of Receiving a Windfall
If you had the opportunity to receive free money, what would you say? ‘Yes’ would be the rational answer. But... View Article
New Subchapter 5 Bankruptcy Proceeding Makes It Easier For Small Businesses to Reorganize While Continuing Operations
They have received little publicity, but recent changes to the U.S. Bankruptcy Code have made it easier for small businesses... View Article
The Insurance Mandate Isn’t Just About Penalties, California is also Helping Low- to Middle-Income Residents Buy Coverage
California’s new individual health insurance mandate went into effect in January 2020. Under the mandate, Californians who do not maintain the minimum essential coverage (MEC) for themselves and their dependents will be subject to a tax penalty unless they qualify for an exemption under the new law.
Bay Area Small Businesses Have A Variety Of Options For Financial Assistance To Weather The COVID-19 Crisis
With much of the media coverage focusing on the funding shortfalls faced by the federal Paycheck Protection Program (PPP), it... View Article
Pursuing Out-of-State Business Opportunities May Lead to Tax Complications
Whether you have invested in a partnership that is looking to invest in rental properties in another state or a... View Article
California Businesses Need to Review Classification of Independent Contractors to Ensure Compliance with New Gig Worker Law
Beginning January 1 of this year, California businesses must comply with new legislation making it significantly more difficult for them... View Article
California’s WARN Act is Unclear on Whether Bay Area Employers Must Give 60 Days Notice of Layoffs Related to COVID-19 Outbreak
The recently issued shelter-in-place orders issued by most Bay Area counties as part of their efforts to stem the spread... View Article
Payments for Attorneys and Non-Employee Services Must be Reported on New Form 1099-NEC Beginning in 2020
For the 2020 tax year, the IRS has implemented a new rule requiring that nonemployee compensation of more than $600... View Article
The Tax Implications of Foreign Income if You Are a U.S. Green Card Holder
If you have been issued a U.S. green card you are currently a tax resident of the U.S. beginning the... View Article
Amazon’s Use of Common Federal Tax Breaks to Eliminate its Federal Tax Bill
The fact that Amazon paid no federal tax in 2018 made national news last year, but one aspect of the... View Article
How are Capital Gains Recognized and Taxed?
The Federal long-term capital gains tax is a tax imposed on a taxpayer’s profits from the sale of assets that... View Article
What Businesses Qualify for the R&D Tax Credit and Which Expenses are Eligible?
The federal research and development tax credit (R&D credit) is one of the U.S. government’s primary means for rewarding businesses... View Article
How Are Bitcoin and Other Virtual Currencies Taxed?
Bitcoin and other virtual currencies are no longer a novelty, but many individuals and companies are unaware of the federal... View Article