New Reporting Requirements Under the Corporate Transparency Act
As you may be aware from our previous memo (view here), the Corporate Transparency Act (“CTA”) initially went into effect as of January 1, 2024, requiring timely submission of specified information on a new form known as the Beneficial Ownership Information Report (“BOIR”) on new or existing companies and their beneficial owners, regardless of industry, […]
2024-2025 Tax Planning Guide
Dear Clients and Friends, If the last 4 years have taught us anything it is that change and taxes are inevitable, and you can only postpone taxes temporarily. We don’t know what the future holds, but we can take steps to proactively plan for and keep ourselves informed of the ever-changing landscape. To help you […]
Newly Enacted CA Legislation: NOL Suspension, Business Credits Cap, and More
On June 27, 2024, California enacted a number of corporate and personal income tax changes including following: suspending net operating loss (NOL) deductions for 2024, 2025, and 2026. capping business credits at $5 million per year for 2024, 2025, and 2026. eliminating a deduction for intangible drilling and development costs for oil and gas wells. […]
