On July 4, the One Big Beautiful Bill Act (OBBBA) was signed into law which included significant changes to our tax laws. We are reaching out to highlight some key provisions which may affect your tax situation. You can view… Read More
The IRS and California’s Franchise Tax Board have issued a disaster relief notice for San Diego County in response to the severe storms and flooding that began on January 21, 2024. Individuals and households that reside or have a business… Read More
The IRS reassures California taxpayers that they continue to have an automatic extension until later this year to file and pay their taxes for those covered by disaster declarations in the state. The current mailings being received by some taxpayers,… Read More
The IRS and California’s Franchise Tax Board have issued updated disaster relief notices for the state of California relating to the severe winter storms, flooding, and landslides. California Taxpayers in specified counties, including San Diego, now have until October 16,… Read More
The IRS has issued a disaster relief notice for the state of California relating to the severe winter storms, flooding, and landslides that began on January 9, 2023. California storm victims now have until May 15, 2023 to file various… Read More
Inflation has been surging this year. The July 2022 consumer price index (CPI) was up 8.5% year over year, according to the latest data from the U.S. Bureau of Labor Statistics. The rate of inflation is expected to stay high… Read More
You’ve probably heard that the newly enacted Inflation Reduction Act of 2022 (IRA) includes a package of measures to fight climate change, including tax incentives for both consumers and businesses. Among other things, the law extends and revises a tax… Read More
In recognition of recent gasoline price increases, the IRS has increased the standard mileage rate for the final 6 months of 2022. The standard mileage rate for business travel will be 62.5 cents per mile, up 4 cents from the… Read More
California Governor Gavin Newsom has signed a new law, SB 113, enhancing tax benefits to qualifying pass-through entities (PTEs). The new law builds on the tax benefits made available in July 2021 through AB 150. The original AB 150 law… Read More
California Assembly Bill 150 (AB 150) allows a pathway for pass-through entity owners to work around the $10,000 cap on state and local tax (SALT) deductions imposed by the 2017 Tax Cuts and Jobs Act. AB 150’s workaround, effective for… Read More