2023 Paychex Tax Bulletin
This tax bulletin provides you with tax information for 2023 and reminders about Forms W-4, W-5, and I-9. We have included a separate bulletin with information for your employees. Please post the employee bulletin in an area where your employees can easily see it. Download
California Passes Expansion of Passthrough Entity Tax And Other Economic Relief
On February 7, 2022, the California Legislature passed Senate Bill 113 (“SB 113”) proposing an expansion to the California Passthrough Entity Elective Tax (“CA PTET”) as previously enacted under Assembly Bill 150 (“AB 150”), as well as additional relief unrelated to the CA PTET. The bill has been signed by Governor Gavin Newsom. SB 113 […]
Real Estate Market Changes for 2022
Changes Are Underway The pandemic ignited a home-buying frenzy as the decade-long housing shortage converged with historically-low mortgage rates, shifting workplace dynamics and new opportunities for young buyers to pursue their first homes. As enter the start of 2022, here’s a look at the expectations of real estate experts for new year. While the pandemic […]
Advanced Wealth Transfer Planning
Keep Your Money In The Right Hands A well-crafted wealth transfer and estate plan can help you implement your vision for the future and create benefits for the people and causes that matter most to you. There are three places your assets can end up after your death: taxes, charity, or to loved ones as […]
New Requirements for R&D Credits
The IRS recently shared it receives thousands of R&D claims for credits in the hundreds of millions of dollars from corporations, businesses, and individual taxpayers. Claims for the research credit under Section 41 of the Tax Code are examined in a substantial number of cases and take up significant time and resources for both the […]
Important Updates To The California Pass-Through Entity Tax
The Franchise Tax Board (“FTB”) has recently provided additional information and clarification on several important issues which we have summarized below on top of our last guidance dated 12/07/2021: Underpayment or overpayment of CA PTET – The full 9.3% must be paid on all qualified income by the original due date of the tax return […]
2021 4th Quarter Estimated Tax Reminder
This is a reminder that your 4th quarter estimated taxes are due on or before January 18, 2022. Please note that this is a general reminder, and if it does not apply to you because you are not required to make estimated payments or if you have already made the payments, please disregard this reminder. […]
Limitations on The California Pass-Through Entity Tax
Limitations on The California Pass-Through Entity Tax The recently enacted Assembly Bill 150, which established the California Pass-Through Entity Tax Credit (“CA PTET”), currently includes some limitations on the use of the credit that greatly reduces the possible benefits of making the election. For information on who qualifies for the CA PTET, you can view […]
2021-2022 Year-end Tax Planning Guide
Dear Clients and Friends, Although you can’t avoid taxes, you can take steps to minimize them. This requires proactive tax planning — estimating your tax liability, looking for ways to reduce it and taking timely action. To help you identify strategies that might work for you in 2021, we’re pleased to present this tax planning […]
Cost Segregation Study and Tax Deductions
A cost segregation study is one way to boost cash flow If your business is planning to buy, build, or substantially improve real property, a cost segregation study can help you accelerate depreciation deductions, reduce your taxes, and boost your cash flow. Even if you’ve invested in real property in previous years, you may have […]
