A taxpayer that claimed the R&D payroll tax offset starting in 2016 may not qualify for tax year 2021. The election is only allowed for 5 years. Therefore, if the offset was…

The Tax Cuts and Jobs Act (TCJA) signed in to law on December 22, 2017 had a provision in it that is going to have a negative impact to companies…

We saw for the first time in 2019, the words “virtual currency” on Form 1040 (Schedule 1). There’s been additional discussion and regulation out of the Infrastructure Act that passed…

Now that the year-end has come and gone, many of our entity clients focus on the reporting they have to send out to employees and consultants by January 31st of…

Now that the proposals are cleared through Congress with the promise of the President's signature, we take note of the tax changes included in the bill, as follows: The Employee…

The statutory language adopted by the Legislature is relatively short in length, but, as with any newly adopted provisions, open to interpretation, depending on how one parses that language. As…

Many small businesses close their books on an annual basis largely for the purpose of preparing annual tax filings. We recommend that the books be closed on a monthly basis…

Over the last several years we have seen many V.C’s put money into many of our clients’ companies and allow the founders to “take some of the money off the…