If you’re an art collector, you may wonder about the tax breaks available for donating a work of art to charity. Several different tax rules may come into play in connection with such contributions. Basic… Read More »Emil @ CPA-LA: The tax rules for donating artwork to charity
Construction companies continue to find themselves embroiled in a protracted battle for skilled labor. One fundamental way to recruit the best talent and retain valued employees is by offering competitive compensation and benefits. Let’s focus… Read More »Emil @ CPA-LA explain how to beefing up benefits may save tax dollars for construction businesses
Summer is around the corner so you may be thinking about hiring young people at your small business. At the same time, you may have children looking to earn extra spending money. You can save… Read More »Emil @ CPA-LA wrote: The tax advantages of hiring your child this summer
When preparing your tax return, we’ll check one of the following statuses: Single, married filing jointly, married filing separately, head of household or qualifying widow(er). Filing a return as a head of household is more… Read More »Emil @ CPA-LA: Some taxpayers qualify for more favorable “head of household” tax filing status
If you’re starting a business with some partners and wondering what type of entity to form, an S corporation may be the most suitable form of business for your new venture. Here are some of the… Read More »CPA-LA: Choosing an entity for your business? How about an S corporation?
April 18 is the deadline for filing your 2022 tax return. But a couple of other tax deadlines are coming up in April and they’re important for certain taxpayers: Saturday, April 1 is the last… Read More »Emil @ CPA-LA: Two important tax deadlines are coming up — and they don’t involve filing your 2022 tax return
Every type of business needs at least a few insurance policies. Construction companies, however, tend to need many of them. After all, there are so many risks to guard against. Precisely which types of coverage… Read More »Emil @ CPA-LA gives you an insurance policy glossary for construction business owners
Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2023. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines… Read More »CPA-LA – 2023 Q2 tax calendar: Key deadlines for businesses and employers
Did you make large gifts to your children, grandchildren or other heirs last year? If so, it’s important to determine whether you’re required to file a 2022 gift tax return. And in some cases, even… Read More »Emil @ CPA-LA: The 2022 gift tax return deadline is coming up soon
It’s been years since the Tax Cuts and Jobs Act (TCJA) of 2017 was signed into law, but it’s still having an impact. Several provisions in the law have expired or will expire in the… Read More »Emil @ CPA-LA – Changes in Sec. 174 make it a good time to review the R&E strategy of your business
Have you bought stock in a company that later dropped in value? While you may prefer to forget such an ill-fated investment, at least you can claim a capital loss deduction on your tax return.… Read More »Emil @ CPA-LA wrote: Claiming losses on depreciated or worthless stock
One of the not-so-secret ways to run a profitable construction business is to follow sound accounting practices. Mistakes in financial reporting can be costly, potentially leading to budget overruns, cash shortfalls, delayed projects, unpaid bills… Read More »Emil @ CPA-LA: 11 ways your construction company can avoid accounting mistakes