Payroll Protection Program (PPP) loans have been a lifeline to businesses since the onset of COVID-19…
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 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 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 MoreTax Updates Regarding the CARES Act: What You Need to Know Now
Most business taxpayers are aware that the Tax Cut and Jobs Act (TCJA) eliminated net operating loss (NOL) carrybacks and limited carryforwards to 80 percent of taxable income…
Read MorePaycheck Protection Program (PPP) Loans: What You Need to Know
For any business that has received PPP funds, it is extremely important that they have a clear understanding of the requirements for loan forgiveness …
Read MoreWages vs. Shareholder Distributions: Considerations for S-Corporations
Shareholders of S-Corporations can choose to take their compensation either as wages or as shareholder distributions, however; there are some things to be aware of when considering the best option…
Read MoreTaxes and Triple Net Leases: Knowing What’s Deductible in Section 199A
Ranking high on the hottest tax topics of the 2018 filing season was in regards to Section 199A, which allows for a 20% tax deduction on qualified business income…
Read MoreDo You Need a Professional Successor Trustee?
Do you have a living trust? If so, you need a successor trustee who operates the trust and makes sure it is properly distributed to beneficiaries…
Read MoreNew Leasing Standard Effective in 2020
Effective January 2020, companies will be required to account for leases differently than in the past. Currently, operating leases are expensed through a company’s income statement…
Read MoreWhy You Don’t Want to Miss Your Estimated Tax Payments
Did you know that you could receive a penalty for not making payments quarterly to the Internal Revenue Service (IRS) or Franchise Tax Board (FTB)?…
Read MoreA Win for Defunct, Undissolved Businesses
In general, the State of California presents some unique challenges when it comes to its tax code. In fact, non-conformity has become the norm when it comes to federal vs. California tax law…
Read MoreWhy Internal Controls Are Important for Your Company
When you talk to a successful business owner, they don’t usually speak about internal controls being the reason for their success. It’s about the product or service they market, the people who sell their product…
Read More2019 Tax Law Changes - Federal vs. California
As many of you know, the Tax Cuts and Jobs Act (TCJA) resulted in many changes that will impact 2019 federal income tax filing. The question is…
Read MoreSales Tax Changes – Is Your Business In Compliance?
The world is getting smaller; and for businesses, that means it’s getting more expensive…
Read MoreTax Tips for Business Owners: Can You Save More With A C Corp or S Corp Election?
For decades, CPAs have had a simple piece of tax advice for business owners: Take the small business – or S Corp – election instead of C Corp…
Read MorePay Now to Save Later: Maximizing Your Paycheck Withholding Allowance
Months after the Tax Cuts and Jobs Act (TCJA) was signed, the average tax payer is still trying to figure out what the legislation means for his or her bottom line...
Read MoreTax Law Changes
As tax season has progressed, one of the questions that has repeatedly been asked is “What’s President Trump going to do with taxes”? The answer to that question is easy…
Read MoreAudit Manager Robert Hendrix, MBA Attains CPA License
Osborne Rincon, Certified Public Accountants, continues to expand services and expertise for our clients....
Read More“Bonus” on Bonus Depreciation
This is my favorite time of year. Not only because of the holidays, but right now, at the very end of the year, I can actually get my clients to do some...
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