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Did You Miss Your State Tax Deduction?

KROST

If you are a shareholder of an S Corporation, partner/member of a partnership/LLC, you might be able to get some of your state tax deduction back. As you may remember, the federal Tax Cuts and Jobs Act reduced the amount of the SALT deduction individuals can claim on their federal tax return to $10,000 starting with the 2018 tax year.

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California Small Business COVID-19 Relief Grant Program

KROST

Businesses are eligible based on their annual revenue as reported in their most recent tax return: Eligible Businesses Annual Revenue. million (based on most recently filed tax return). Tax , Real Estate , Technology , Hospitality. So Sum Lee, CPA is a Tax Principal at KROST. Amount of the Grant.

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Jane Maddox, Merella Schandl and Stephanie Jones Named Principals at Anders

Anders CPA

Maddox, CPA in tax, Merella Schandl, MHA, CPMSM, CPCS in health care and Stephanie H. About Jane Maddox After beginning her career as a tax intern at the firm in 2009, Jane grew in her role working with real estate developers and construction companies to become a leader in Anders Real Estate and Construction group.

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California Passes Workaround to the Federal Limit on State Tax Deductions

KROST

The Tax Cuts and Jobs Act passed in December 2017 limited the state and local tax (SALT) deduction for individuals to $10,000. The electing owners are then granted a credit against their California personal income tax for the full amount of the tax paid by the entity on their allocable share of California taxable income.

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The Impact of the Pandemic on State and Local Tax Considerations for a Remote Workforce

KROST

While there are many benefits of a remote workforce, businesses should take a step back and ask the following questions: Does the business have employees who reside and work remotely in other states, and if so, what are the state payroll tax implications? Do the remote employees create income tax nexus in other states?

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Friday Footnotes: Why Private Equity Loves the Profession; A Very Naughty KPMG Employee; WTF PwC Guy | 4.5.24

Going Concern

“No single initiative will solve the profession’s talent shortage,” Sue Coffey, CPA, CGMA, AICPA & CIMA’s CEO–Public Accounting, said in a news release. Finance ] Aitzarelys Negrón, certified public accountant (CPA) and founder of Strategies and T.E.A.,

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