In the 2018 court case, South Dakota v. Wayfair, the Supreme Court ruled that states can mandate businesses that have “nexus” in a state to collect and remit sales taxes on transactions to customers in that state. Prior…
Journey Back to a Simpler Time Imagine if you will; it’s November 1976. Perhaps you are in your brand-new Oldsmobile Cutlass, listening to Frampton Comes Alive (or Songs in the Key of Life if you have better taste…
There is a new California government retirement plan called CalSavers. CalSavers have been sending out attention grabber emails from what appears to be email addresses obtained through the California Employment Development Department. The idea of the program is…
Tax Planning…sounds so broad and formal. What is tax planning? To me, it’s time set aside to think about your current year tax situation and next year(s) tax situation and ponder if there is a better way to…
A gift tax, as defined by the Internal Revenue Service (IRS), “is a tax on the transfer of property by one individual to another while receiving nothing, or less than full value, in return. The tax applies whether…
The GOOD news is that AMT is changing, new tax rules apply to 2018 through 2025….see below The Alternative Minimum Tax (AMT) was enacted by Congress in 1969 to prevent a small number of wealthy taxpayers from avoiding…
Business Energy Investment Tax Credit (ITC) Businesses may take a tax credit of up to 30% of the cost of investment credit property that qualifies for the energy credit. Investment credit property is any qualifying depreciable or amortizable…
C-Corporation Changes – Tax Cut & Job Act Both C-Corps and their shareholders or owners are affected by the Tax Cuts and Job Act (TCJA) policy changes. Some major changes include the new flat inside C-Corp tax rate…
Taxpayers, their spouses and/or dependents pursuing higher education could be eligible for an education credit that can reduce amount of tax owed by up to $2,500 per eligible student. There is often much confusion when it comes to…
Please see prior blog regarding the Tax Treatment for Sale of Rental. This blog will dive into the cost basis to use on the sale of a personal residence that was converted to a rental property. There are…
