Income Tax

California Passes AB 150 as State and Local Tax Deduction Benefit for Passthrough Entities

July 26, 2021 | Firm News, Income Tax

On Thursday, April 29th, Governor Newsom signed California Assembly Bill 80 which partially conformed with the Federal tax treatment of PPP loans.

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Extended Tax Deadline and Upcoming Tax Payments Due

April 12, 2021 | COVID-19, Firm News, Income Tax, Industry News

The recent news that the Treasury Department and Internal Revenue Service have extended the upcoming tax filing deadline continues to cause confusion for many people. Therefore, we are posting this important update to help provide more clarity.

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Proposition 19? Step up in basis? What are these and will they affect me?

February 9, 2021 | Estates & Trusts, Income Tax, Industry News

With the passage of Proposition 19 and the change of administration in the White House, there is a lot of confusion about real property transfers,.

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Proposition 19 Goes Into Effect February 16, 2021

January 19, 2021 | Estates & Trusts, Income Tax, Industry News

Proposition 19 goes into effect on February 16, 2021 and the favorable property tax reassessment terms for gifts from parents to children are going to.

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Understanding Sales Tax in the Post-Wayfair World

February 24, 2020 | Business Services, Firm News, Income Tax, Wine, Winery and Vineyard

  In June 2018, the U.S. Supreme Court decided South Dakota v. Wayfair. Since then, businesses that operate in two or more of the nation’s 10,000-plus.

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8 Myths About the Earned Income Tax Credit (EITC) At Tax Time

February 10, 2020 | Firm News, Income Tax

With some tax returns are already on the way for processing, the Internal Revenue Service (IRS) is reminding taxpayers not to forget about the Earned Income Tax.

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IRS Is Closing Some Business Payment P.O. Boxes

February 6, 2020 | Business Services, Firm News, Income Tax, Service Areas

If you have your business tax payments set to auto-pilot, check those addresses: The IRS is closing business payment P.O. Boxes in the Cincinnati and Hartford.

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Don’t Get Ghosted by Your Tax Preparer This Season

February 4, 2020 | Firm News, Income Tax

    With tax season in full swing (it kicked off January 27, 2020), the Internal Revenue Service (IRS) has issued a reminder to taxpayers to avoid unethical.

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12 Questions To Ask When Choosing A Tax Preparer

February 3, 2020 | Firm News, Income Tax

You’ve probably asked friends or colleagues if they can recommend the perfect tax preparer before? Or you’ve been asked for a recommendation? The truth is.

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The 1,099 Hassles of 1099s

January 14, 2020 | Business Services, Firm News, Income Tax, Nonprofit Organizations, Owner Managed Businesses, Service Areas

Preparing and filing 1099s is one of those IRS requirements that can really annoy accounting teams, requiring far more hours and effort than they can.

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2019 IRA Contributions Can Still Be Made

January 8, 2020 | Estates & Trusts, Firm News, Income Tax

2019 IRA contributions can be made until the tax filing deadline of April 15, 2020. Good news, the contribution limit increased in 2019 by $500 to $6000.

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2020 IRS Rates and Limits

December 31, 2019 | Business Services, Firm News, Income Tax

To assist you in gearing up for the coming year, we have provided updated rates and limits for 2020!   To download a PDF of.

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California Competes Tax Credit

August 16, 2019 | Business Services, Firm News, Income Tax, Other, Owner Managed Businesses, Service Areas

  The California Competes Tax Credit is an income tax credit available to businesses that want to come to California or stay and grow in California..

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Important Tax Updates for Partnerships and LLC’s

February 13, 2019 | Firm News, Income Tax, Industry News

  These new changes will affect you if you are a representative, partner, or member of a partnership or LLC. Effective for tax years beginning.

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California Repays Federal Unemployment Insurance Loan

December 3, 2018 | Business Services, Firm News, Income Tax

In May 2018, California repaid its federal unemployment insurance (UI) loan balance. As a result, in 2018 California employers will receive the full credit against.

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Paid Family and Medical Leave Credit

November 30, 2018 | Firm News, Income Tax

A new tax credit is available for employers who provide paid family and medical leave to their employees. Eligible employers may claim the credit, which.

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California Independent Contractors

November 20, 2018 | Business Services, Firm News, Income Tax, Owner Managed Businesses, Service Areas

Independent Contactors vs. Employees   On April 30, 2018, in the matter of Dynamex Ops. West, Inc. v. Superior Court of Los Angeles, the Supreme.

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U.S. Supreme Court Decision Changes Sales Tax for Businesses Selling Out-of-State

June 26, 2018 | Business Services, Firm News, Income Tax, Wine

On June 21, 2018 the US Supreme Court issued a decision that will impact all businesses who sell products or services outside of their home.

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Tax Reform Action Plan

May 15, 2018 | Firm News, Income Tax, Winery and Vineyard

Partner in Charge of our Tax Department, Gina Cochetti, CPA, MST, and Senior Manager in our Tax Department, Tyler Willis, CPA, MST, had an article published.

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IRS Encouraging “Paycheck Checkup”

April 6, 2018 | Firm News, Income Tax

The Tax Cuts and Job Act changed the way tax is calculated and the IRS is encouraging several key groups of taxpayers to perform a.

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Deadline Reminder

April 5, 2018 | Firm News, Income Tax

The individual tax filing deadline is quickly approaching! You must e-file, postmark your individual tax return, or file for an extension by 11:59PM, April 17,.

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How You Are Impacted By Tax Reform

December 21, 2017 | Firm News, Income Tax, Owner Managed Businesses, Service Areas

On December 20, 2017, Congress passed The Tax Cuts and Jobs Act; the first significant item of sweeping tax reform in over 30 years. The.

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2018 IRS Rates and Limits

December 18, 2017 | Business Services, Firm News, Income Tax, Wine

To assist businesses we have compiled a quick reference guide for 2018 IRS rates and limits. To download a PDF of the guide, click here. To.

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Hayashi Wayland Provides Expert Tax Assistance to Western Growers Center for Innovation & Technology

November 21, 2017 | Agriculture, Firm News, Income Tax

  When launching a new business, filing your taxes is probably one of the last things on your mind. But it shouldn’t be. Hayashi Wayland.

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The stretch IRA: A simple yet powerful estate planning tool

October 25, 2017 | Estates & Trusts, Firm News, Income Tax

The IRA’s value as a retirement planning tool is well known: IRA assets compound on a tax-deferred (or, in the case of a Roth IRA,.

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You May Be Paying Too Much Sales and Use Tax

October 19, 2017 | Agriculture, Firm News, Income Tax, Other, Wine

Senior Manager in our Tax Department, Tyler Willis, CPA, MST, had an article published in the Fall issue of the Coastal Grower Magazine.  Read below to find out.

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Have you properly funded your revocable trust?

October 11, 2017 | Estates & Trusts, Firm News, Income Tax, Service Areas

If your estate plan includes a revocable trust — also known as a “living” trust — it’s critical to ensure that the trust is properly.

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How does my short term rental affect my income taxes?

September 21, 2017 | Firm News, Income Tax

Written by Martha Gustavson, CPA, MST, of Hayashi Wayland Short term rentals have long been used as a way for homeowners and vacation homeowners to supplement.

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Western Grower Shipper Magazine Profiles HW

July 25, 2017 | Agriculture, Firm News, Income Tax

Hayashi Wayland, and Partner in Charge of the Tax Department, Gina Cochetti, have been featured in the July/August 2017 issue of the Western Grower Shipper Magazine.  Read.

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Partnership audit changes on the horizon

July 17, 2017 | Income Tax, Industry News

The Internal Revenue Service has proposed new audit regulations for partnerships and other entities classified as partnerships, such as limited liability companies (LLC’s). These regulations.

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