by Cory Carroll | Jan 31, 2023 | tax
Small business owners are excited to kick-start their businesses and start generating revenue, but often miss opportunities to document and claim ordinary and necessary business expenses as tax deductions. Below are some of the most common expenses that small... 
by Cory Carroll | Dec 2, 2022 | tax
Starting with the 2021 tax year, the IRS required Schedules K-2 and K-3 be completed for passthrough entities (Partnerships and S-Corporations) to include items of international tax relevance from the operations of a pass-through entity. As these forms are very... 
by Cory Carroll | May 31, 2022 | tax
An important deadline is on the horizon for California business owners. By June 30, 2022 employers with an average of five or more employees in California for 2021 are required to have a retirement plan in place for workers — either through a private-market option,... 
by Cory Carroll | Nov 18, 2021 | tax
The Tax Cuts and Jobs Act (TCJA) passed in late 2017 put a $10,000 limit on the amount of state taxes individuals could subtract as itemized deductions. As a workaround, some states have enacted legislation to allow certain pass-through entities (PTEs) to be taxed at... 
by Cory Carroll | Feb 15, 2021 | tax
As a means of raising an anticipated $1 billion in new annual revenue for state education investments, Oregon has enacted a corporate activity tax (CAT), effective for tax years beginning on or after January 1, 2020. What is the CAT? The CAT is imposed on taxpayers... 