With rising costs of higher education, many parents and other relatives are looking for ways to save for future college expenses for children.  The sooner you start saving the more time those investments have to grow. Below, we outline the types of educational savings...

Starting January 1, 2024, the Corporate Transparency Act of 2020 (the “CTA”) requires new and existing domestic and foreign entities created in or registered to do business in the United States to disclose information regarding their beneficial owners and company...

Identity theft related to tax returns is a concerning issue. Fraudsters with access to taxpayer’s personal information, might file a tax return and claim a fraudulent refund before the real taxpayer gets a chance. By the time the legitimate taxpayer files, the IRS...

Paying taxes can be a stressful experience for many individuals, especially if they find themselves facing a significant tax bill when filing their income tax returns. To avoid such surprises and potential underpayment penalties, it's essential to understand how...

The Inflation Reduction Act of 2022 expanded the energy efficient home improvements and solar credits available to individuals in 2022 through 2032.  If you are planning on upgrading your home, you may be eligible for tax credits if the items you are installing meet...

The research and development (R&D) tax credit was enacted in 1981 and has since granted substantial financial benefits to eligible businesses. Over the years there have been changes to the legislation regarding the R&D Tax Credit, but it was ultimately made...

California’s Unclaimed Property Law (UPL) requires banks, insurance companies, corporations, and certain other entities to review their books and records annually, and report any property to the State Controller’s Office when there has been no activity for a period of...

Over the past few years, countless workers began working from home – either fully remote or in a hybrid fashion. In the past, workers deducted their home offices and related expenses. Do you qualify? Not all workers do, so let us dive in below. W-2 Employee If you are...

The Farm Bill The Agricultural Improvement Act of 2018 (the Farm Bill) made cannabis-derived products such as industrial hemp and CBD (cannabidiol) legal at the federal level as long as it did not exceed 0.3% THC (tetrahydrocannabinol).  Cannabis products below the...

Many founders decide to incorporate their business in the State of Delaware, often at the advice of corporate attorneys and investors.  While the corporation may not have an income tax imposed simply for incorporating in the state, the corporation remains subject to...