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.
The Department of the Treasury and IRS announced yesterday that the federal income tax filing due date for individuals for the 2020 tax year will be extended from April 15, 2021, to May 17, 2021.
At Hayashi Wayland, the health and safety of our people, their families, our clients and our communities are of critical importance to us. We are closely monitoring information from the Centers for Disease Control (CDC) and local health departments to help ensure that we are taking appropriate precautions to ensure everyone’s safety while continuing to provide continuous service.
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, capital gain and estate taxes.
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 change.
With the new challenges facing our communities each day I wanted to provide a little clarity around some of the questions that we are getting from local exempt organizations that are working to address the changing environment on all fronts.
The Tax Cuts and Jobs Act (TCJA) has officially been in place for two years now. It lowered the corporate income tax rate from 35% to 21% and provided a 20% deduction for qualified business income (QBI). However, the law also instituted new changes regarding net-operating loss (NOL) carryback and carryforward rules.
These five tips can help you save time, so you can make 2020 a more productive and efficient year for your business.
While there probably aren’t quite 1,099 hassles to 1099 preparation, it certainly can feel like it when you’re scrambling to get them all prepared and filed on time.
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.
FASB members voted unanimously to propose moving back the effective date for lease accounting and two other major new accounting standards.
In April of 2019, California Governor Gavin Newsom signed a bill that drastically changed the required collection and filings of sales tax for California wineries.