Tax

Beginning in tax year 2021, partnerships, S corporations, and US persons who were partners in foreign partnerships or entities electing to be taxed as partnerships will be required to submit the new Schedule K-2 and K-3 with their returns if they have items of "international tax relevance." The new schedules…

California is known for having some of the highest taxes in the country for both individuals and businesses

The Governor today signed SB 113, which expands the passthrough entity elective tax benefits by: Repealing the tentative minimum tax limitation on the Passthrough Entity Elective Tax Credit; Allowing partnerships/S corporations/LLCs with owners that are partnerships to make the election (although the tax can’t be paid on behalf of the…

https://windes.wistia.com/medias/4g3814xpni?embedType=async&videoFoam=true&videoWidth=640   In this informative webinar, Professor Christopher Schwarz from UC Irvine presents his economic and financial market forecasts for 2022

The long-awaited fix to AB 150’s passthrough entity elective tax has been introduced in the California Legislature

Two important changes to Research and Development (R&D) expenses are here and prudent taxpayers should begin preparing now

The big question when forming a new business entity in California is what type of entity should be formed

Accelerating deductions for prepaid expenses is a good way to save on your taxes for the current year