🚨⚡ Clean Vehicle Credits Are Ending Soon⚡🚨
If you’ve been eyeing an electric vehicle — or advising clients who are — now’s the time to act.
Currently, u...
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🚗⚡ Thinking About Installing EV Charging Stations? Here’s a Key Tax Deadline ⚡🚗
Under IRC §30C, businesses can currently claim a tax credit of up to $30,000 for installing eligible alternati...
🏥👶 Paid Family Leave Tax Credit May Soon Be Permanent – Here’s What Employers Should Know 👶🏥
The Employer Credit for Paid Family and Medical Leave (IRC §45S) has been an underused but powerful incentive ...
🧒💼 Big Win for Employers Investing in Child Care! 💼🧒
The IRS Code §45F is getting a powerful upgrade — and it's a game-changer for businesses looking to support wo...
IRS Crackdown on Small Business Write-Offs
The IRS has quietly stepped up audits of small businesses and pass-through entities this year, especially targ...
🚨 Big Tax News: SALT Deduction Cap Raised to $40,000
The Senate just passed Trump’s new tax bill, and it includes a major change to the State and Local Tax (SALT) ...
🟡 Solar Tax Credit at Risk: Why Homeowners Should Act Now
If you've been considering solar panels or other clean energy upgrades, 2025 may be your last chance to take f...
California Employers: Minimum Wage Increases Effective July 1, 2025
As a tax professional committed to keeping you informed, I want to highlight important changes to minimum wage...
Game On (Again): FinCEN BOI Reports Due March 21, 2025
The court lifted its injunction. That means the game is on for BOI reporting.The Financial Crimes Enforcement ...
New Solo 401(k) Rules for 2025: What You Need to Know
If you’re self-employed or a small business owner, the latest updates to Solo 401(k) plans could impact your r...
💸 Scammed in 2024? You might still be able to deduct the loss—but only in specific cases.
According to new data from the Federal Trade Commission, consumers lost over $12.5 billion to fraud in 2024. I...
Major tax reform is on the horizon, and many can face uncertainty with respect to their current and future tax planning. Some of the proposed upcoming changes are as follows:
Major tax reform is on the horizon, and your clients are facing unprecedented uncertainty about their t...
If you’re part of a multimember LLC taxed as a partnership (or a traditional partnership), you might occasionally pay out-of-pocket for items like travel, meals, car expenses, continuing education, professional dues, or even home office costs.
You generally have two paths to take these items as deductions:
• Reimbursement: If your LLC or partnership...
Triple Tax Advantages: Reimburse Your Employee-Spouse for Health Insurance
Are you a self-employed business owner or a single-member LLC with your spouse as your only eligible employee?...
Understanding Taxable Events in Crypto Transactions
There are several scenarios in the crypto space where a taxable event is likely to occur. Some examples includ...
Figuring Decline in FMV
Determining the decline of a property’s FMV due to a disaster can be the most complicated part of the casualty...
🚨 Will Congress Fix R&D Expensing in 2025? 🚨
Businesses investing in R&D have been struggling since 2022, when full expensing was replaced with mandato...
👨👩👧👦 𝗦𝗺𝗮𝗹𝗹 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗧𝗮𝘅 𝗛𝗮𝗰𝗸: 𝗛𝗶𝗿𝗲 𝗬𝗼𝘂𝗿 𝗞𝗶𝗱𝘀
Did you know you can 𝗹𝗲𝗴𝗮𝗹𝗹𝘆 𝗽𝗮𝘆 𝘆𝗼𝘂𝗿 𝗰𝗵𝗶𝗹𝗱𝗿𝗲𝗻 𝘁𝗵𝗿𝗼𝘂𝗴𝗵 𝘆𝗼𝘂𝗿 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 — and reduce your tax bill at the same ti...
Can You Write Off Your Pet on Your Taxes?
It depends… but in some cases, yes, you actually can. 🐶💼
As a tax professional, I get this question more of...
🚨 𝗔𝘁𝘁𝗲𝗻𝘁𝗶𝗼𝗻 𝗖𝗮𝗹𝗶𝗳𝗼𝗿𝗻𝗶𝗮 𝗦𝗺𝗮𝗹𝗹 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗢𝘄𝗻𝗲𝗿𝘀: 𝗥𝗲𝘁𝗶𝗿𝗲𝗺𝗲𝗻𝘁 𝗣𝗹𝗮𝗻 𝗗𝗲𝗮𝗱𝗹𝗶𝗻𝗲 𝗔𝗽𝗽𝗿𝗼𝗮𝗰𝗵𝗶𝗻𝗴 🚨
By 𝗗𝗲𝗰𝗲𝗺𝗯𝗲𝗿 𝟯𝟭, 𝟮𝟬𝟮𝟱, all California employers with 𝗮𝘁 𝗹𝗲𝗮𝘀𝘁 𝗼𝗻𝗲 𝗲𝗺𝗽𝗹𝗼𝘆𝗲𝗲 must comply with the state’s retirem...
🚨 Hiring Freelancers in California? Read This Before You Send That 1099
As of January 1, 2025, California’s Freelance Worker Protection Act is in full effect—and it’s a game-changer ...
The Right Way to Ask Your C or S Corporation for Travel Reimbursements
Keep these basic rules in mind when you work in and operate your business as a corporation:
You are an empl...
🚨 IRS Audit But No Receipts? Here’s What You Need to Know 🚨
If you're in the middle of an IRS audit and realize you're missing receipts for some of the expenses they're r...
💡 What Every Business Owner Needs to Know About the Excess Business Loss Rule (IRC §461(l))
As we move deeper into 2025, it's crucial for business owners — especially those operating pass-through entiti...
Trump’s New Tax Bill: What Small Businesses Need to Know
On May 12, President Trump introduced a comprehensive tax proposal with significant implications for small bus...