Everyone loves a PET

As followers of this blog will recall, I’ve written many times about the State and Local Tax (SALT) cap for itemized deductions. Individual Taxpayers have been limited to a maximum amount of $10,000 in deductions for this category regardless of how much they actually spend in a year on state income and property taxes.

Year End Estate and Gift Tax Planning Fall 2021

Given all the proposals floating between Congress and the President’s office these days, how does one know what to do to minimize you and your family’s tax burdens?

The SALT was passed!

Just to jog your memory, you will recall that one of the most contentious provisions of the Tax Cuts and Jobs Act of 2017 was to deny individuals an itemized tax deduction for state and local taxes (SALT) paid in excess of $10,000.

File Your Taxes Early: 10 Reasons Why NOT to Wait

By Paul Scholz, Managing Partner Every year we have many clients who ignore their taxes until the last possible moment. Sometimes its unavoidable, like when you are waiting on K-1 forms or other documents that are necessary to complete your taxes and you have no control over when you receive them. Often though, it’s simply […]

PPP Forgiveness & The Nonprofit Double Dipping Dilemma

As borrowers near the end of their 24-week covered period and prepare to apply for PPP forgiveness, many nonprofit organizations face the issue of double dipping, or being reimbursed for the same expense twice by government agencies. A surprise to many is that the PPP guidance does not actually address double-dipping. Federal cost principles, detailed […]

More PPP Loan Funds Available For Small Businesses

There is also additional money available from the Small Business Administration (SBA) for a new round of loans part of the Paycheck Protection Program (PPP) loans courtesy of the Emergency Coronavirus Relief Act of 2020. Here's what you need to know about PPP Loan Funds: Requirements to Take Out a 2nd PPP Loan If you [...]

Five Keys to Improving the Close Process for Nonprofits

The right nonprofit financial management team and reporting solution can be a critical driver of efficiency and visibility; the wrong solution can be a critical roadblock to strategic improvement. In accordance to “Close the Books” Survey Results – 2020 Edition, by Sage Intacct and our extensive experience with nonprofit outsourced accounting services, here are five […]

The SALT Cure!

No, we aren’t talking about preserving meat. But we are talking about preserving money. Yours.

RMD Planning

As we mercifully swing in to the end of the year 2020, along with all the political and social issues we are still dealing with as a nation, there is always TAX PLANNING! As the days march closer to December 31 it is important to consider possible year end moves to reduce the amount of money you’ll ultimately send to whoever is President.

What to look for in a business valuation under Corporations Code 2000

Typically, a minority shareholder has very limited rights regarding the operations of a company. There are a multitude of reasons why shareholders can disagree, including differing visions of strategy, financial issues or simply personality differences that can influence business valuation. Outside of an existing buy-sell agreement, the California Corporations Code provides the procedures for both […]