• Skip to main content
  • Skip to the end
  • People
  • Services
    • Tax
    • Assurance & Accounting
    • Accounting Solutions for Business
    • Estates & Trusts
    • Business Advisory
      • Start-up Advising
      • Corporate Governance
      • Internal Control
      • Growth Management
      • Succession Planning
    • Valuation
      • Valuation Services
      • ESOPs
      • Start-up Funding
      • Stock Options
      • Valuation Process
    • Litigation Services
    • Benefit Plans
  • Expertise
    • Construction
    • Family Wealth & Individual Tax Planning
    • International
    • Technology
    • Nonprofit
    • Emerging Businesses
    • Manufacturing & Distribution
    • Recreation & Entertainment
    • Renewable Energy
    • Real Estate
  • Resources
    • Estate Planning Podcast
    • Estate Planning Year-End Check Up
    • Insight on Estate Planning Blog
    • Founder’s Pit Crew
    • International Tax Articles
    • Nonprofit Insights Blog
    • Tech Company Life Cycle Chart
    • Tech Blog
  • News & Events
    • COVID-19 and Tax Updates
    • COVID-19 Articles
    • Newsletters
    • ASL Talks
    • Press Releases
    • Media
  • Careers
  • About
    • About Us
    • Our Mission
    • Our Community
    • Associations
  • Contact
  • File Sharing
  • Pay Online
  • About
    • About Us
    • Our Mission
    • Our Community
    • Associations
  • Contact
  • File Sharing
  • Pay Online
ASL
  • People
  • Services
    • Tax
    • Assurance & Accounting
    • Accounting Solutions for Business
    • Estates & Trusts
    • Business Advisory
      • Start-up Advising
      • Corporate Governance
      • Internal Control
      • Growth Management
      • Succession Planning
    • Valuation
      • Valuation Services
      • ESOPs
      • Start-up Funding
      • Stock Options
      • Valuation Process
    • Litigation Services
    • Benefit Plans
  • Expertise
    • Construction
    • Family Wealth & Individual Tax Planning
    • International
    • Technology
    • Nonprofit
    • Emerging Businesses
    • Manufacturing & Distribution
    • Recreation & Entertainment
    • Renewable Energy
    • Real Estate
  • Resources
    • Estate Planning Podcast
    • Estate Planning Year-End Check Up
    • Insight on Estate Planning Blog
    • Founder’s Pit Crew
    • International Tax Articles
    • Nonprofit Insights Blog
    • Tech Company Life Cycle Chart
    • Tech Blog
  • News & Events
    • COVID-19 and Tax Updates
    • COVID-19 Articles
    • Newsletters
    • ASL Talks
    • Press Releases
    • Media
  • Careers
Search | Menu

Current Buzz

Cutting edge business wrap-up
Next
November 11, 2022

Carried Interest Rules: Final Section 1061 Regulations Are Now in Effect

For investment businesses—including many private equity, venture capital, real estate, and hedge fund partnerships—new rules governing the taxation of “carried interest” have been a source of concern for several years. The Tax Cut and Jobs Act of 2017 changed the way such income is to be reported and taxed, but 2022 is the first year in which the final regulations implementing those changes take full effect. (more…)

Share Article
Print
Categories: Business Taxation
Tags: Carried Interest Rules, Investment businesses, Tax Cuts and Jobs Act of 2017,
November 3, 2022

R&D Tax Incentives - Prepare for 2022 Rule Changes

The ability to deduct research and development (R&D) costs as a current business expense, rather than treat them as a capital asset that must be amortized over time, has helped many businesses over the years. By enabling companies to lower their income tax burden, this tax treatment encouraged valuable research and technological innovation. (more…)

Share Article
Print
Categories: Business Taxation, Updates & Alerts
Tags: R&D Tax Incentives, Tax Cuts and Jobs Act of 2017,
August 29, 2022

Microcaptive Insurance Plans: Questionable Transactions Draw IRS Scrutiny

Many businesses form wholly owned captive insurance companies for legitimate risk management purposes and to take advantage of potential tax savings. Unfortunately, some promoters of so-called “microcaptive” schemes have run afoul of the IRS by helping businesses set up captive insurers solely to evade federal income taxes.

If your business is considering forming a microcaptive insurance company to reduce its tax burden, you should consult with a qualified, objective tax professional before taking any action. The penalties for illegal tax-avoidance schemes can be severe, and the IRS has been quite successful in pursuing such cases in recent years. (more…)

Share Article
Print
Categories: Business Taxation
Tags: Captive insurance, Microcaptive Insurance Plans, Risk Management,
August 23, 2022

Inflation Reduction Act of 2022

In early August 2022, a reduced version of the Biden Administration’s tax reform, climate change, green energy, and social policy agenda was passed by both the House and Senate. On August 16, 2022, President Biden signed the $750 billion Inflation Reduction Act of 2022 into law. The numerous changes will require significant guidance from multiple federal agencies to implement.  With one exception, the Act’s provisions will be effective beginning January 1, 2023.  We have summarized some of the key provisions below, and as guidance is released, will continue to keep you updated on how the Inflation Reduction Act may affect you or your business. (more…)

Share Article
Print
Categories: Business Taxation, Tax Reform, Updates & Alerts
Tags: Inflation Reduction Act of 2022,
July 22, 2022

IRS Information Returns - Filing Changes on the Horizon?

If your company is among the millions of businesses that still file paper versions of tax information returns such as Form W-2 and the various types of Form 1099, proposed new regulations from the IRS could soon affect you. The agency has proposed new regulations that would greatly expand the number of employers who are required to file these documents electronically rather than on paper.

The new rules are still subject to revision and the IRS has not yet officially announced when they will take effect. When they were first unveiled, however, the agency said it wanted to implement them by the end of this year. Companies that are still filing paper W-2s and 1099s should consider transitioning soon. (more…)

Share Article
Print
Categories: Business Taxation, Updates & Alerts
Tags: Form 1099, Form W-2, Tax information returns,
July 18, 2022

California Competes Tax Credit and Grants – 2022 Update

The state’s popular California Competes Tax Credit program continues to be available during the 2022-2023 fiscal year. The state has allocated approximately $304 million in California Competes Tax Credits and a total of $120 million in California Competes Grant funding. (more…)

Share Article
Print
Categories: Business Taxation, Updates & Alerts
Tags: California Competes Grant, California Competes Tax Credit, Tax Credit,
May 11, 2022

Tax-Deferred Benefits - Using Retirement Plans as a Recruiting Tool

With unemployment at its lowest level in decades, many businesses are struggling to retain employees and fill vacancies. An attractive retirement or profit-sharing plan can help meet this challenge while also reducing a company’s tax liability. It can also help company owners accumulate wealth for their own retirement. (more…)

Share Article
Print
Categories: Business Taxation, Individual Retirement Accounts
Tags: 401K, IRAs, Recruiting, retirement plans,
March 23, 2022

Selling a Business? Consider Tax Questions Early

As businesses adjust to the post-pandemic economy and private equity firms increase their searches for new acquisitions, a growing number of business owners may find themselves facing intriguing but unnerving questions about whether now is the time to sell—and if so, how to structure the deal. Among the many factors to consider is the tax consequences of the transaction. (more…)

Share Article
Print
Categories: Business Taxation
February 25, 2022

Recent California Tax Law Changes Can Benefit Business Owners and Employees

Recently enacted California tax legislation included both good news and bad news for business owners. Senate Bill 113 (SB 113) contained a number of key and favorable changes made retro-active for the 2021 tax year.  California Senate Bill 114 (SB 114) reinstated a mandatory COVID-19 supplemental sick leave requirement for employers. (more…)

Share Article
Print
Categories: Business Taxation, COVID-19, Updates & Alerts
Tags: Pass-Through Entity Elective Tax,
Next Entries

Categories

  • Updates & Alerts
  • Renewable Energy
  • Construction Corner
  • Real Estate
  • Business Taxation
  • Tax Reform
  • COVID-19
  • Summer 2022
  • Audit & Accounting Errors, Myths & Guidelines
  • Individual Retirement Accounts
  • Fraud
  • Fall 2021
  • Execs & Owners
  • Emerging Businesses
  • Summer 2021
  • Nonprofits
  • Winter 2021
  • Family Wealth & Individual Tax Planning
  • Valuation Services
  • Human Resources
  • Winter 2020
  • Fall 2019
  • Revenue Recognition
  • Summer 2019
  • Spring 2019
  • Winter 2019
  • Fall 2018
  • Summer 2018
  • Spring 2018
  • Winter 2018
  • Operations Management
  • International Business Issues
  • The Musings of our Authors

Archives

  • January 2023
  • December 2022
  • November 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • August 2019
  • July 2019
  • May 2019
  • February 2019
  • December 2018
  • November 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • September 2017
  • August 2017
  • July 2017
  • May 2017
  • February 2017
  • November 2016
  • August 2016
  • June 2016
  • February 2016
  • March 2015
  • January 2015
  • September 2014
  • February 2014

subscribe:
asl advisor

Subscribe today to receive the ASL Advisor!

Sign Me Up!
Contact Us Join Our List Follow
Privacy Policy | Site Map | Design by HDSF
© 2023 Abbott, Stringham & Lynch - Silicon Valley CPA Firm - 1901 South Bascom Avenue, Suite 105, Campbell, CA 95008
Phone: 408-377-8700 - Fax: 408-377-0821 - info@aslcpa.com

Accounting | Tax | Audit | Consulting – Abbott Stringham & Lynch is a top 30 CPA firm serving San Jose, the heart of Silicon Valley and the greater Bay Area. Our experienced team offers audit, accounting, tax, valuation, and consulting services to companies and individuals. With expertise in the areas of real estate, construction, technology, nonprofit, emerging business, international, family wealth & individual, recreation and entertainment, and renewable energy. San Jose CPA – Silicon Valley CPA. Regretfully, we are unable to refund payments made through our online processing system.