Tax

At a Glance Main Takeaway Internal Revenue Code (IRC) Section 174 now requires taxpayers to capitalize and amortize research and experimental (R&E) expenditures beginning in tax year 2022

At a Glance Main Takeaway State and local income taxes, commonly called "SALT," have been the subject of much discussion in recent years

At a Glance Main Takeaway Accounting Standards Codification 740, also known as ASC 740, is a set of guidelines regulating how companies recognize the impact of income taxes under Generally Accepted Accounting Principles (GAAP)

https://windes.wistia.com/medias/ym7b0vetle?embedType=async&seo=true&videoFoam=true&videoWidth=640   At a Glance Main Takeaway The State and Local Tax (SALT) deduction impacts the financial strategies of businesses and high-net-worth individuals every year

At a Glance Main Takeaway Deferred tax assets are non-current assets on a company’s balance sheet that reduce taxable income in the future

At a Glance Main Takeaway Remote work has grown increasingly popular in the past three years, with many businesses opting for flexible, work-from-home options for their employees

Governor Newsom's office has announced that it will conform to the IRS’s postponement of filing and payment deadlines to October 16, 2023, for taxpayers located in all California counties except the following: Imperial; Kern; Lassen; Modoc; Plumas; Shasta; and Sierra

At a Glance Main Takeaway If you own real estate investment properties, you likely use a tax strategy involving depreciation deductions to maximize savings when you file