CALIFORNIA, WHOSE STATE-RUN PUBLIC PENSION PLANS ARE WOEFULLY UNDERFUNDED, WILL NOW REQUIRE BUSINESSES TO OFFER A STATE-RUN RETIREMENT PLAN FOR THEIR EMPLOYEES   Beginning June of 2020, and phasing-in through June of 2022 for businesses with 5 or more employees, California is mandating businesses provide employees with a retirement plan option.  CalSavers, a state-run retirement … Continued

The tax rules relating to litigation recoveries and costs are complicated. They have been made more so by the Tax Cuts & Jobs Act of 2017.  The new tax legislation which applies to recoveries and costs in 2018 and beyond makes it a good time to review the complex labyrinth of tax rules that apply … Continued

Businesses may finally be able to fully expense the cost of business property, including inventory. Under the provisions of the new tax reform bill, passed by congress today, there are three areas that expand current rules allowing for such expensing.   Small Business Accounting Method Under current law, if a business falls under the rules … Continued

With the specter of Tax Reform looming, year end tax planning is especially important. The tax legislation that is winding its way through Congress includes significant tax relief for businesses. If Tax Reform comes to fruition resulting in lower tax rates for businesses in 2018, it might make sense to reduce taxable income this year … Continued