Find below the direct quote from the IRS Small Business and Self-Employed Website http://www.irs.gov/Businesses/Small-Businesses-&-Self-E...

From The Tax Advisor : The energy efficient commercial buildings deduction under Sec. 179D provides taxpayers with an incentive to make...

Congrats on your purchase. For tax purposes, a commercial building is depreciable over 39 years (straight line, no acceleration) for the...

Example: Business owner wants to sell or trade-in a former vehicle for $20,000 and purchase a new or used vehicle for $50,000. The issue...

REMINDER: 2020 Use Tax Per the State of California If you bought tax-free items online, in another state, or in a foreign country, you...

1099 filings for 2020 are due January 31, 2021 for 1099 required vendors; such as, independent contractors, non-employees, and landlords....

Retroactive Stuff – Going Back to 2020: Recent legislation (Dec 2020, and March 2021) revised the rules for 2020. You now qualify if you...

There are now 3 separate legislations providing a Stimulus payment to individuals. See below recap. In addition, individual taxpayers...

Mini-extension for 2020 individual returns: Surely you know that the State and Feds extended the individual tax filing date to May 17 –...

Just within the last few days, the SBA has announced that all recipients of the 2020 EIDL are eligible to apply for a loan increase....

The original $10,000 grant for any business in a disaster area is back (less the $1000 per employee you already received if you applied...

Family First Coronavirus Response Act Pay leave type: Under FFCRA, there are three different types of paid leave. Employee National Paid...

First Draw and Second Draw PPP Now available from all financial institutions offering the PPP. If you qualify, today is the first day you...

We expect that all banks will issue similar instructions, so we provide this to you as an alert of what to expect from your financial...

Application Status: Right now, only community banks and small regionals can process the Second Draw PPP applications, as of 1/13/21. The...

We hope your 2021 year is starting off well. We certainly hope for an improvement over 2020. It is once again time to think about sending...

California Capital FDC <info@cacapital.org> Deadline Extended! The application period to the California Relief Grant Program has been...

Most small businesses in California can apply for grants of up to $25,000 via California’s Small Business COVID-19 Grant Program. The...

The significant difference in favor of business for Round 2 PPP is that the final legislation reduced the eligibility requirement to...

If you obtained an EIDL from the SBA, you or your corporation/LLC is required to submit documents to the SBA. The Board minutes or letter...