Demystifying Inherited IRAs and Navigating the RMD Maze

August 31, 2023

Inheritance brings its own set of challenges. Within the vast world of financial legacies, inherited Individual Retirement Accounts (IRAs) stand out thanks to their annual withdrawal requirements, also known as Required Minimum Distributions (RMDs). With…

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Navigating the Tax Implications of Remote Work: An Essential Guide for Business Owners

July 28, 2023

As we increasingly embrace the post-pandemic era, the world of work has undergone a significant shift. Many companies have opted for remote work models, dispersing employees across various states and countries. However, while beneficial in…

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Navigating Changes in Bonus Depreciation: Maximizing Tax Savings for Small Business Owners

June 19, 2023

As a small business owner, staying informed about the ever-evolving tax landscape is crucial to optimize your financial strategies. In particular, understanding the changes in bonus depreciation can significantly impact your tax savings. This article…

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Claiming the Employee Retention Credit: A Comprehensive Guide to Deadlines, Scams, and the Importance of Qualified Advisors

June 5, 2023

As businesses continue to grapple with the financial aftershocks of the COVID-19 pandemic, one beacon of relief remains within reach: the Employee Retention Credit (ERC). This tax credit, designed to support businesses that have kept…

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3 Strategies for 2023 to Reduce Your Tax Burden

May 22, 2023

As we approach the halfway point of 2023, it’s the perfect opportunity to evaluate your business tax planning and determine ways to decrease your tax burden. Employing the right strategies can reduce your taxes, optimize…

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Common Control Entities and Lease Accounting Methods

April 23, 2023

The new lease accounting methods have been an important topic for businesses over the last few years. Determining if an enforceable lease exists is an integral part of Topic 842 that affects how and what…

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The Top 12 Tax Scams to Avoid According to the IRS

April 23, 2023

Fraud. Scam. Phishing. Regardless of what you call these illicit activities, it’s important to protect yourself against the bad players that take advantage of weaknesses for their gain. Not only is it inconvenient, but there’s…

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5 Common Mistakes Your Tax Return May Reveal

March 24, 2023

What does your tax return say about your financial situation? The paperwork you file each year offers excellent information about how you are managing your money—and the areas where it might be wise to make…

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Tax Treatment of the California Middle Class Tax Refund

February 23, 2023

The IRS has issued guidance on the tax treatment of the California Middle Class Tax Refund (MCTR), as well as payments made to qualified residents in 20 additional states. IRS 2023-23 states that taxpayers will…

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Will your tax bracket change in 2023?

January 31, 2023

The IRS has released the updated tax brackets, deductions, and credits for the 2023 tax year. While tax filing for this year won’t happen until early 2024, it’s important to pay attention to your tax…

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We offer tax return preparation, financial statements, bookkeeping, consulting and a variety of other services for companies and individuals throughout the San Joaquin Valley and beyond.