article thumbnail

California Main Street Small Business Tax Credit II Begins 11/1/21

RogerRossmeisl

50 (AB-50) established the California Main Street Small Business Tax Credit II, which will provide COVID-19 financial relief to qualified small business employers. Small Business Tax Credit. The post California Main Street Small Business Tax Credit II Begins 11/1/21 appeared first on Roger Rossmeisl, CPA.

Maine 186
article thumbnail

May 15 Tax Deadline Extended to October 16 for California Disaster Area Taxpayers

RogerRossmeisl

As reported in IR-2023-33 on 2/24/2023 Disaster-area taxpayers in most of California now have until October 16, 2023, to file various federal individual and business tax returns and make tax payments, the Internal Revenue Service announced last Friday. Previously, the deadline had been postponed to May 15, 2023 for these areas.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

California Storm Victims Qualify for Extended Tax Filing Deadlines

RogerRossmeisl

On January 10, 2023, IRS news release IR-2023-03 announced that California storm victims now have until May 15, 2023, to file various federal individual and business tax returns and make tax payments. The post California Storm Victims Qualify for Extended Tax Filing Deadlines appeared first on Roger Rossmeisl, CPA.

article thumbnail

Employee Retention Tax Credit Penalty Relief

RogerRossmeisl

Because of the resulting lower salary expense, this results in a higher tax burden for taxpayers with sizable ERTC refunds. The post Employee Retention Tax Credit Penalty Relief appeared first on Roger Rossmeisl, CPA. Reasonable Cause Penalty Relief To the extent an ERTC.

tax 180
article thumbnail

So, What’s Next?

CPA Practice

As business tax season winds down in the US Market, many leading partners have contacted me for strategic technology guidance for 2024 and beyond. Unlike the old days when public practice CPAs rarely spoke to anyone but clients and other team members during tax season, it is evident that CPA firms have become year-round businesses.

article thumbnail

New Beneficial Ownership Reporting Requirements Effective 1/1/24

RogerRossmeisl

Unfortunately, this will impose burdensome reporting requirements on most businesses, and the willful failure. The post New Beneficial Ownership Reporting Requirements Effective 1/1/24 appeared first on Roger Rossmeisl, CPA.

cpa 242
article thumbnail

Treasury and IRS Issue Guidance on the Qualified Alternative Fuel Vehicle Refueling Property Credit

RogerRossmeisl

Business vs Non-Business Property Property Not Subject to Depreciation The credit amount for property not subject to depreciation is 30% of the cost of the qualified property placed in service during the.

cpa 228