With a goal of spurring the economy and helping businesses thrive in California, the state has created several incentives and other opportunities for businesses to greatly reduce their tax burdens. These lucrative opportunities—which are often overlooked by business taxpayers—include the California Competes Tax Credit, grants for training employees, and the partial sales and use tax [...]
For business owners seeking to boost net profits, taking advantage of all possible opportunities for tax savings offers a powerful solution. As they build their businesses, however, it is also crucial that owners plan for retirement and ensure that their tax and financial strategies are designed to support them in their later years. Fortunately, with [...]
On August 25, 2017, Hurricane Harvey made landfall near Houston, Texas, depositing nearly 50 inches of rain in some areas and claiming at least 70 lives. Two weeks later, Hurricane Irma hit Florida, wreaking havoc throughout the state and causing damage in other parts of the Southeast. In addition to the devastation that these storms [...]
Update: On February 9, President Trump signed into law the Bipartisan Budget Act of 2018. This new law retroactively renews the §179D deduction for 2017. Therefore, commercial building owners and primary designers may now claim the deduction for qualifying energy-efficient projects completed in 2017. At this time, however, Congress has not taken any action to [...]
Update: On February 9, President Trump signed into law the Bipartisan Budget Act of 2018. This new law retroactively renews the §179D deduction for 2017. Therefore, commercial building owners and primary designers may now claim the deduction for qualifying energy-efficient projects completed in 2017. At this time, however, Congress has not taken any action to [...]
Since 2014, California has allowed certain businesses engaged in manufacturing and research and development (R&D) activities to pay a substantially lower sales tax rate when they purchase or lease qualifying equipment. Specifically, eligible businesses are only required to pay state sales and use tax at 3.3125 percent, as opposed to the regular rate of 7.25 [...]
Update: On February 9, President Trump signed into law the Bipartisan Budget Act of 2018. This new law retroactively renews the §179D deduction for 2017. Therefore, commercial building owners and primary designers may now claim the deduction for qualifying energy-efficient projects completed in 2017. At this time, however, Congress has not taken any action to [...]
The United States is protected by one of the strongest and most technologically advanced militaries in the world. A key factor contributing to the U.S. military’s sophistication is the federal government’s use of private contractors to design and manufacture innovative solutions for the nation’s defense needs. Each year, major defense contractors—such as Lockheed Martin and [...]
Update: On February 9, President Trump signed into law the Bipartisan Budget Act of 2018. This new law retroactively renews the §179D deduction for 2017. Therefore, commercial building owners and primary designers may now claim the deduction for qualifying energy-efficient projects completed in 2017. At this time, however, Congress has not taken any action to [...]
The election of a new president was not the only pivotal change that occurred on November 8: voters in cities, counties, and states across the U.S. also approved laws that will have significant implications for individuals and businesses. For instance, several cities and counties passed measures that will raise sales tax rates as a way [...]