Tax Advisory

On February 18, 2025 the FinCEN announced that the beneficial ownership information (BOI) filing mandate has officially been reinstated. The reinstatement was triggered by the U.S. District Court [...]

On December 23rd, 2024, the Fifth Circuit Court of Appeals suspended the lower court’s preliminary injunction against the Beneficial Ownership (BOI) reporting mandate. This temporarily put the [...]

On December 3, 2024, a federal district court in Texas issued a nationwide preliminary injunction against enforcing the Corporate Transparency Act (CTA).   The court determined that the Act [...]

The Tax Cuts and Jobs Act (TCJA) that passed in 2017 significantly impacted the federal estate and gifting landscape by nearly doubling the lifetime gift exemption from $5.5 million to $11.1 [...]

The Corporate Transparency Act (CTA) was enacted by Congress on January 1, 2021, and will be effective as of January 1, 2024, bringing additional reporting requirements for US entities to report [...]

As we enter the 2024 tax year, there are a few important tax law changes that we’d like to bring to your attention: Bonus Depreciation –Federal bonus depreciation allows for accelerated deduction [...]

For entities to have the opportunity to participate in the California Passthrough Entity Tax (PTE) program for 2022, please be advised that a partial payment must be made by June 15, 2022.  [...]

California Assembly Bill No. 150 enacted on July 16, 2021 provided many amendments and changes to the state’s Revenue and Taxation Code. Among these changes under Part 10.4 Small Business Relief [...]

California Assembly Bill No. 80, enacted on April 29, 2021, allows for the deduction of expenses paid with forgiven Paycheck Protection Program (PPP) debt. To qualify for the deduction of [...]

On June 17, 2021, The U.S. Supreme Court made the decision to uphold the Affordable Care Act (ACA). Several states, including Texas, looked to challenge the ACA mandate in the court of law. The [...]