Resources

CalSavers Deadline Reminder | Register by June 30th Thumbnail

CalSavers Deadline Reminder | Register by June 30th

June 28, 2022

Employers with five or more California employees (based on average number of employees for 2021) will be required to either provide a retirement plan for their workers or register for CalSavers by June 30th, 2022. [...]

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California Pass-Through Entity (PTE) Tax Payment Deadline Approaching Thumbnail

California Pass-Through Entity (PTE) Tax Payment Deadline Approaching

May 20, 2022

The first installment of the 2022 California PTE tax is due on June 15th. If a pass-through entity misses that payment, it will not be eligible to make the PTE tax election for 2022.[...]

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What to Consider When Planning for a 401k Audit Thumbnail

What to Consider When Planning for a 401k Audit

April 22, 2022

401k and Defined Contribution Benefit Plan Sponsors are responsible for adhering to proper plan compliance as part of their fiduciary responsibilities, and several compliance areas are required. A 401k audit performed by a qualified CPA can be valuable to help management determine areas to strengthen internal controls and plan compliance.[...]

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Deadline to File or Extend Returns is April 18th Thumbnail

Deadline to File or Extend Returns is April 18th

March 29, 2022

For the first time in two years, the April tax filing deadline has not been extended and taxpayers can expect to file their returns at the regularly scheduled time.[...]

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California Senate Bill 113 Makes Beneficial Changes to Pass-Through Entity Tax Thumbnail

California Senate Bill 113 Makes Beneficial Changes to Pass-Through Entity Tax

February 19, 2022

The benefit of the entity paying taxes directly is that the entity may deduct the full amount of taxes paid on its federal return, whereas the federal deduction for state taxes paid by individual owners is limited. [...]

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Is Your Short-Term Rental Subject to Self-Employment Taxes? Thumbnail

Is Your Short-Term Rental Subject to Self-Employment Taxes?

February 11, 2022

The internet has created unique business opportunities, including allowing people to earn money from the ‘sharing economy’ and side gigs such as rideshare (Uber, Lyft), food delivery (DoorDash, Uber Eats, Grubhub) and home-sharing (Airbnb, VRBO, Homestay).  While this provides revenue and flexibility, it may have income tax consequences which could be overlooked. A recent memorandum... View Article[...]

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National Taxpayer Advocate Delivers Annual Report to Congress Thumbnail

National Taxpayer Advocate Delivers Annual Report to Congress

January 23, 2022

Ms. Collins expressed concern for the upcoming 2022 tax season, citing inadequate resources to efficiently process the existing backlog of amended income and payroll tax returns in addition to the upcoming 2021 tax year filings.[...]

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