Tax and Financial Advisors—Don’t Miss These 7 Overlooked Steps in Maximizing Savings for Your Business Clients

As a tax or financial advisor, your mission is to aid clients on their journeys to optimal financial well-being. For your business clients, proper tax planning forms an integral part of an overall financial strategy designed to maximize profitability. However, frequent changes in state and federal tax law can make it difficult to maintain a [...]

By |2018-03-29T21:24:35-07:00March 29th, 2018|Uncategorized|Comments Off on Tax and Financial Advisors—Don’t Miss These 7 Overlooked Steps in Maximizing Savings for Your Business Clients

What Do Businesses Need to Know About Tax Reform?

As 2018 begins and businesses plan for the months ahead, they will have to take into consideration drastic new changes to U.S. tax law. After months of Congressional debate, President Trump signed the Tax Cuts and Jobs Act into law on December 22, and all provisions went into effect on January 1. This law, which [...]

By |2018-01-09T21:23:18-07:00January 9th, 2018|Uncategorized|Comments Off on What Do Businesses Need to Know About Tax Reform?

Tax Savings Opportunities for California Businesses

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 [...]

By |2017-12-20T16:36:05-07:00December 20th, 2017|Uncategorized|Comments Off on Tax Savings Opportunities for California Businesses

Tax Savings in the Present May Yield Substantial Income in the Future

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 [...]

By |2017-11-28T16:06:16-07:00November 28th, 2017|Uncategorized|Comments Off on Tax Savings in the Present May Yield Substantial Income in the Future

Business Victims of Hurricanes Harvey and Irma May Find Relief Through Tax Incentives

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 [...]

By |2017-09-20T22:02:24-07:00September 15th, 2017|Uncategorized|Comments Off on Business Victims of Hurricanes Harvey and Irma May Find Relief Through Tax Incentives

New Bipartisan Bill Would Expand and Make Permanent the §179D Deduction

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 [...]

By |2018-02-15T16:27:55-07:00September 15th, 2017|Uncategorized|Comments Off on New Bipartisan Bill Would Expand and Make Permanent the §179D Deduction

Clean Energy for America Act Proposes Significant Changes to the §179D Deduction

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 [...]

By |2018-02-15T16:31:29-07:00May 30th, 2017|Uncategorized|Comments Off on Clean Energy for America Act Proposes Significant Changes to the §179D Deduction

California Considers Legislation to Expand Sales Tax Exemption for Manufacturing and R&D Equipment

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 [...]

By |2017-05-10T20:48:34-07:00May 10th, 2017|Uncategorized|Comments Off on California Considers Legislation to Expand Sales Tax Exemption for Manufacturing and R&D Equipment

Section 179D Has Expired, But Commercial Building Owners Can Still Save with These Two Tax Strategies

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 [...]

By |2018-02-16T13:55:46-07:00April 20th, 2017|Uncategorized|Comments Off on Section 179D Has Expired, But Commercial Building Owners Can Still Save with These Two Tax Strategies

Small and Mid-Sized Defense Contractors, Have You Considered the R&D Credit as a Tool for Tax Savings?

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 [...]

By |2017-02-25T04:32:43-07:00February 25th, 2017|Uncategorized|Comments Off on Small and Mid-Sized Defense Contractors, Have You Considered the R&D Credit as a Tool for Tax Savings?