The Employee Retention Credit (ERC) has received much attention and airtime encouraging employers to claim the credit before time runs out. TV ads include everyone from “Mr. Wonderful” (Shark Tank) to actor Ty Burrell (who plays the character Phil Dunphy on Modern Family) soliciting your business. But do you really qualify? That is the question.
Read MoreTax Benefits Covered in the New Inflation Reduction Act
Perhaps you’ve been hearing in the news about The Inflation Reduction Act – wondering what that means for you. We’re breaking down this Act and what it covers so businesses and individuals can determine how they may benefit from it.
Read MorePPP Forgiveness: Urgent News About Nonconformity in California
Payroll Protection Program (PPP) loans have been a lifeline to businesses since the onset of COVID-19…
Read MoreThe IRS Backlog: A Taxing Situation
The landscape in the world of a tax provider looks differently these days as the Internal Revenue Service (IRS) is overwhelmed with high call volumes…
Read MoreAssembly Bill 150: Good News for Members of Pass-Thru Entities
As many taxpayers know, the IRS limits the deduction for personal taxes on Schedule A to $10,000. This is known as the SALT limit…
Read MoreChild Tax Credit
Recently, there were changes made to the child tax credit that will benefit many taxpayers. As part of the American Rescue Plan Act that was enacted in March 2021, the child tax credit…
Read MoreTax Implications of Cryptocurrency: What You Need to Know
Cryptocurrency (crypto) has been a hot topic in the news cycle for the past few months, and there is still much confusion surrounding the tax implications of dealing in crypto…
Read MoreRescue Plan for Restaurants
The American Rescue Plan Act of 2021 includes, among other things, funding of a $28.6 billion Restaurant Revitalization Fund…
Read MoreIs Your Business Missing Out on the Employee Retention Credit?
Most businesses are aware of the Payroll Protection Program (PPP), which included a first draw in 2020 and a second draw in 2021…
Read MoreHow to Value Your Business During COVID-19
The extent the economic impact the coronavirus has made can be evidenced by just looking outside and talking to those close to us.
Read MoreCould You Benefit from Tax Credits for Paid Sick and Family Leave Due to COVID-19?
Staying home has become our new norm these days – and whether you are home to stop the spread of COVID-19 or because you need to be there with your kids while schools are closed –Congress offers some help.
Read MoreNew Reporting Requirements for Independent Contractors
If you are an independent contractor, you’ll want to note that there are new reporting requirements for 2020…
Read MorePayroll Protection Program: Understanding the Loan Forgiveness Application
It has been well over 6 months since the Payroll Protection Program (PPP) was enacted…
Read MoreProposed Tax Changes Under a Biden Administration
As voters consider their picks for the November 2020 election, one of the issues often of interest is how taxes may change under a new administration…
Read MoreRequired Financial Statement Changes for Homeowners Associations
In May 2020, the Financial Accounting Standards Board (FASB) – in response to COVID-19 – elected to again delay by one year the complex implementation of Topic 606 Revenue…
Read MoreWhat You Need to Know About Trusts
Becoming a trustee for a parent's trust is usually a crash course in tax filings, financial management and fiduciary responsibilities…
Read MoreSocial and Private Golf Club Tax Update: Unrelated Business Income Taxes Just Got Complicated
With the majority of golf clubs being re-opened in the past couple of weeks, it seems apropos that the IRS would be updating the regulations on how taxes will be computed on the private social and golf clubs…
Read MoreAgriculture Tax Laws: Navigating Properly Makes a Big Difference in the Bottom Line
There are many tax laws that are specific to agriculture which allow the accelerated write-off of certain structures…
Read MoreThe Impact of Tax Cuts and Jobs Act on the Construction Industry
The Tax Cuts and Jobs Act contains many provisions that have a direct and significant impact on the construction industry…
Read MoreTax Pitfalls: What You Need to Know to Prepare for Tax Day
With tax season on the horizon, it is important to look at a few of the tax pitfalls out there. The partners at Osborne Rincon CPAs weigh in on some of the major ones to be aware of…
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