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So far Thomson Reuters has created 401 blog entries.

Tax depreciation rules for business automobiles

If you use an automobile in your trade or business, you may wonder how depreciation tax deductions are determined. The rules are complicated, and special limitations that apply to vehicles classified as passenger autos (which include many pickups and SUVs) [...]

By |2021-09-21T12:17:16-04:00September 20th, 2021|Categories: Blog, Tax|0 Comments

Related-party transactions draw attention from auditors

Related-party transactions and financial connections are a normal part of operating a business. But these arrangements have gotten a bad rap because dishonest people sometimes use them to disguise poor performance or dishonest activities. So, identifying related parties and [...]

By |2021-09-21T11:25:31-04:00September 17th, 2021|Categories: Audit, Blog|0 Comments

Tax breaks to consider during National Small Business Week

The week of September 13-17 has been declared National Small Business Week by the Small Business Administration. To commemorate the week, here are three tax breaks to consider. Claim bonus depreciation or a Section 179 deduction for asset additions [...]

By |2021-09-13T12:37:22-04:00September 13th, 2021|Categories: Blog, Tax|0 Comments

Claiming a theft loss deduction if your business is the victim of embezzlement

A business may be able to claim a federal income tax deduction for a theft loss. But does embezzlement count as theft? In most cases it does but you’ll have to substantiate the loss. A recent U.S. Tax Court [...]

By |2021-09-07T16:10:11-04:00September 7th, 2021|Categories: Blog, Tax|0 Comments

Best practices for reporting business-related T&E expenses

Many companies have resumed some level of business-related travel and entertainment (T&E) activities — or they plan to do so this fall. Unfortunately, these expense categories may be susceptible to incomplete recordkeeping and even fraud. So, it’s important for [...]

By |2021-09-07T14:59:18-04:00September 3rd, 2021|Categories: Audit, Blog|0 Comments

San Francisco to Impose Additional Employer Tax

San Francisco will impose an additional employer tax on certain businesses, effective in 2022. Businesses affected are those in which the highest-paid managerial employee earns more than 100 times the median compensation of its employees. The tax rate will [...]

By |2021-09-08T12:28:25-04:00September 1st, 2021|Categories: Blog, California, Kaylyn Kleinhans, SALT, Tax|0 Comments

Gig Worker Law Ruled Unconstitutional

California’s Gig Worker law (Prop. 22), which passed in Nov. 2020, has been ruled unconstitutional. That law exempts app-based driving companies such as Uber and Lyft from a previously passed law, known as the 2020 ABC test. That test [...]

By |2021-09-08T12:27:03-04:00September 1st, 2021|Categories: Blog, California, SALT, Tax|0 Comments

Want to find out what IRS auditors know about your business industry?

In order to prepare for a business audit, an IRS examiner generally does research about the specific industry and issues on the taxpayer’s return. Examiners may use IRS “Audit Techniques Guides (ATGs).” A little-known secret is that these guides [...]

By |2021-09-01T18:08:08-04:00August 30th, 2021|Categories: Blog, Tax|Comments Off on Want to find out what IRS auditors know about your business industry?

Financial reporting issues to consider in “going private” transactions

In the midst of mounting inflation, supply shortages, geopolitical turmoil, threats of cyberattacks and continuing COVID-19 concerns, public stock prices are expected to fluctuate in the coming months. This situation has unsettled shareholders and makes long-term strategic planning challenging. [...]

By |2021-09-21T12:15:53-04:00August 27th, 2021|Categories: Audit, Blog|Comments Off on Financial reporting issues to consider in “going private” transactions
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