Whether putting up a new building or renovating an existing one, companies are discovering that they can strengthen their balance sheets by doing a cost segregation study. A cost segregation study (CSS) helps managers break down and itemize construction and acquisition costs so that they can be allocated to shorter depreciation lives. In other words,… Read more

Learn about the pass-through entity updates in this recorded webinar.

Thursday, March 3 1:00pmLive Webinar Are you curious about…how California’s recently passed SALT workaround provisions expanded tax-saving opportunities for partnerships and S Corps? Should your business pay the elective pass-through entity tax? Who must file the new Schedule K-2 and Schedule K-3 forms? What is the status of the BBB? Join Partner Jacob Sheffield, CPA,… Read more

California recently revised its SALT cap workaround to be more appealing for qualifying owners of S corporations and partnerships. On February 9, California’s governor signed into law Senate Bill 113 (S.B. 113), which modified certain technical aspects of the elective pass-through entity tax enacted in Assembly Bill 150 (A.B. 150) in July 2021. A number… Read more

Many taxpayers have already received IRS Letters 6419 and 6475 containing details about their 2021 advance child tax credit (CTC) payments and economic stimulus payments. Here’s what you need to know about the letters, this year’s CTC refund, and what to do about potentially erroneous information. In January 2022, the IRS issued two separate letters… Read more