October 2020 | September 2020 | August 2020 | July 2020 | June 2020 | PPP Loan Forgiveness Guidance Released | May 2020 | April 2020 | New Mandated Employer-Paid Benefits and Costs in Coronavirus Bill | February 2020 | January 2020 | 2020 Payroll Tax Requirements | Special Tax Alert December 2019 | December 2019 | 2019 Year End Tax Planning Guide | November 2019 | 2019 Tax Data Schedules | October 2019
California Governor Gavin Newsom has recently signed a bill regarding COVID-19 business tax relief. This bill outlines the state’s intention to mirror how a federal taxation law is forgiving certain business loans. Bolstering Californian Small Businesses Newsom signed three bills into law on September 9, 2020. The intention is to help bolster small businesses in […]
There are two new California employment laws in response to the COVID-19 pandemic. They both provide tax relief to California businesses, as well as new jobs to Californians. Based on the businesses hiring practices of the business, there are significant tax advantages associated with both programs. Here are the details. California Tax Credit for Small […]
One Proposition Has Had Its Share of Controversy Of the 12 propositions that will be on the California ballot in November, two of them would make big changes to long-standing property tax laws. Split-roll Measure The passage of Proposition 15, also called the “split-roll measure,” would repeal Proposition 13 protections for nonresidential commercial and industrial […]
Proposed regulations adopt the post-2017 simplified accounting rules for small businesses. The Tax Cuts and Jobs Act put in place a single $25 million gross receipts test (adjusted annually for inflation after 2018) for determining whether certain taxpayers can use the cash method of accounting, are not required to use inventories, are not required to […]
The Treasury and the IRS have issued temporary and proposed regulations to: reconcile advance payments of refundable employment tax credits provided under the Families First Coronavirus Response Act (Families First Act) and the Coronavirus Aid, Relief, and Economic Security (CARES) Act, and recapture the benefit of the credits when necessary. Under the Families First Act, […]
