The 2017 Tax Cuts and Jobs Act created a credit for some employers, and the IRS has finally issued guidelines businesses can use to apply for this paid family leave credit.Businesses who paid family or medical leave to employees during 2018 and 2019 may qualify....
Finding Real Life Solutions To Your Tax Problem
Corporate Taxes
CROS: Is your business struggling with the new tax filing system?
"That's a distinction without a difference." You likely have heard that phrase before. What it aims to point out is a fault in someone's logic. Typically, it is evoked when a speaker tries to propose that two things are different when no difference actually...
Will CA Supreme Court ruling make it harder to hire contractors?
A recent ruling from the California Supreme Court will have business owners across the state questioning whether they need to re-classify independent contractors as employees. The ruling could have serious ramifications for employers and employees connected to the...
Payroll vs. employment tax: Is there a difference?
You may have heard the terms "payroll tax" and "employment tax" used interchangeably. Many people--even some tax professionals!--think that these terms are synonyms. Granted, the terms do have their similarities. After all, they both refer to the taxes owed by an...
Tis the season for charitable donations…and tax breaks?
Ringing bells and shiny red buckets are just one of the many opportunities that may result in an increase in charitable donations over the holidays. Monetary contributions to charities can lead to more than just a warm heart, if done wisely they can also lead to a tax...
Natural disasters and taxes (for businesses)
2017 has been a difficult year for many Americans. With multiple hurricanes striking coastal areas and fires rampaging in California, there is significant loss and a heavy burden to recover from the storms.When a natural disaster strikes, it can take everything or it...
The basics of accelerated accounting methods
Depreciation is one of the most common methods used by businesses to reduce their taxable income. However many do not understand the concept of accelerated depreciation. Additionally, they do not know how much money could be saved by using this method. This post will...
When is ‘obstruction’ really actionable?
As tax attorneys, we know how difficult dealing with the IRS can be. After all, most business owners do not have the same intimate knowledge of the U.S. Tax Code that IRS agents and Justice Department lawyers may have. But prosecutors have a great deal of discretion...
No taxes to be paid in United Airlines settlement
Most people believed that the reported lawsuit that Dr. David Dao was poised to file against United Airlines and other related parties would never see a day in court. Those people were proven right when the parties announced a settlement last week.The terms were not...
Why is tax planning important for new startups?
Among the myriad of issues new businesses tackle, tax planning is one that commonly falls through the cracks. Some entrepreneurs may just be too intimidated by the prospect of figuring out tax liability. Regardless of the demands your new business may present, it is...