by Dana Borys | Jan 17, 2024 | tax
A question CPA’s are commonly asked is “when is my tax return due?” Below is a quick summary of some of the most common tax deadlines for calendar year-end filers (note, fiscal year-end filers and state income tax return filing dates may vary): January 31,... 
by Dana Borys | Feb 5, 2021 | tax
For taxable years beginning on January 1, 2020, California will now allow cannabis businesses operating as individual sole proprietorships, limited liability companies taxed as partnerships and S Corporations to claim deductions and credits paid or incurred in... 
by Dana Borys | Sep 15, 2020 | tax
On September 11, 2020, the IRS released general guidance for the cannabis industry. This is likely a response to a Treasury Department internal watchdog report which was critical of the IRS’ lack of guidance towards the cannabis industry. The guidance is published on... 
by Dana Borys | Aug 17, 2020 | tax
The IRS issued a set of proposed regulations on July 30, 2020 that addresses several key accounting issues for small businesses. The issues addressed uncertainties under the Tax Cuts and Jobs Act (TCJA) in connection with simplified accounting procedures covered under... 
by Dana Borys | Jun 23, 2020 | tax
OVERVIEW OF TIGTA REPORT DATED MARCH 30, 2020 The Treasury Inspector General for Tax Administration (“TIGTA”) was established in the 1980’s to provide independent oversight of the Internal Revenue Service’s (“IRS”) activities. On March 30, 2020, TIGTA released...