Taxes March 14, 2023
Feds Charge 7 with $110 Million Tax Refund ID Theft Scheme
Charged with a conspiracy to claim $111 million in tax refunds using the stolen identities of accountants and taxpayers by filing at least 371 false tax returns.
Taxes March 14, 2023
New Incentives for Qualified Charitable Distributions
The new law enhances the benefits of making “qualified charitable distributions” (QCDs) from a taxpayer's IRAs.
Taxes March 14, 2023
A Last-Minute Way to Increase a Tax Refund or Lower Your Tax Bill
Tax season may be in full swing, but there’s still time to make a smart money move that often goes overlooked by taxpayers.
Payroll March 14, 2023
Secure 2.0 Offers New Tax Incentives for Small Business Retirement Plans
The credit is for businesses with up to 100 employees, but the credit is reduced by 2% per employee over 50 employees earning less than 100,000/year.
Payroll March 13, 2023
Court Says Most of California’s Gig Worker Law is Valid; Prop. 22
For gig workers, Prop 22 preserved flexible schedules associated with remaining a contractor but took away protections giving gig workers classification as employees.
Payroll March 13, 2023
Up to 45 Percent of Americans Have a Side Hustle
73% of workers with a side hustle are actively thinking about quitting their job. 60% of workers said that they would rather quit their job than return to the office five days a week.
Taxes March 13, 2023
5 Tips for Achieving Work-Life Harmony During Busy Season
From tight deadlines to too much work, achieving work-life harmony during the busy season can be challenging.
Taxes March 10, 2023
Tax Court Disallows Mortgage Interest Deduction
The new case involves a complex series of transactions where three brothers intermingled their business and personal interests.
Taxes March 9, 2023
IRS and State Move Spring Tax Deadline to Oct. 16 for Most Californians
The new deadline of Oct. 16 applies to California and federal individual and business tax returns and payments.
Taxes March 8, 2023
How the Inflation Reduction Act Impacts Corporate AMT and Bonus Depreciation
The Inflation Reduction Act reintroduces the corporate AMT, but with major changes, and it only applies to certain corporations, but a company only needs to pass the book income test once to be subject to AMT.
Accounting March 7, 2023
Milestones for S Corporation Election
Although the most significant advantage is the limited liability protection it provides its shareholders, the S Corp election also avoids the double taxation incurred by C Corps.
Accounting March 6, 2023
AICPA Comments on Changes to Section 162(m) of American Rescue Plan Act of 202
Beginning in 2027, for calendar year taxpayers, a public company’s covered employees will include Current Law Covered Employees as well as the next five highest paid employees.