Background On Section 179 Section 179 allows you to depreciate certain assets fully in the first year that you purchase them. These deductions must be for business related assets such as vehicles, equipment, and software. Section 179 cannot help you create a loss so you must have the required net income to allow for the
Category Archives: Uncategorized
01
Mar
Mar
Overview For tax purposes it can be beneficial to be considered a real estate professional. Being a real estate professional offers benefits but also has requirements. If you can qualify as a real estate professional, then you avail yourself many tax advantages and tax savings opportunities. Let’s clarify what a real estate for professional tax
22
Feb
Feb
Overview Real estate is a great place to invest your money and is often used by many people for this reason. When it comes to holding real estate it is important to do it in the smartest way. We see a lot of our clients holding real estate and there are always a few things
15
Feb
Feb
What is Estate Tax While only six states currently have estate tax, California is not one of them. California is not subject to state level estate tax, but it is still subject to federal estate tax. Estate tax is basically a tax on your right to transfer property at your death. Your estate may consist
Advisory|Strategic Guidance|Value Building, Uncategorized
What is the Knoster Chart for Managing Complex Change?
31
Oct
Oct
Knoster Model For Managing Complex Change If you are trying to implement new changes to your team, as a leader is important that they have the right tools to succeed. Often times we wish there was a plan or formula for success, well when we look at the Knoster chart we are given
25
Oct
Oct
What is the ERC? The employee retention credit, better known as ERC is a refundable tax credit designed for businesses who continued to pay their employees during shutdown or decline in gross receipts due to the Covid-19 pandemic. Eligible taxpayers can claim this credit from March 13, 2020, to December 31, 2021[1], on an
13
Oct
Oct
Overview As a leader of a successful business, you may be in the position that you are looking to create a retirement plan for you and your employees. Maybe you are looking to make sure that you have the right plan for your situation. Well, every year we help clients determine the best plan
30
Sep
Sep
How can I defer the taxes on the sale of my residence or vacation home? We recently had a client move out of California and purchase a new residence in another state. They want to sell their California residence AND their vacation house that is also in California. Both properties have taxable gains of more
15
Sep
Sep
Will my new car qualify for the New Clean Vehicle Credit? You must be excited. You are either looking for a new vehicle or you have just purchased one. With the passing of the Inflation Reduction Act of 2022 on August 16, 2022, there have been changes to the tax rules around which
15
Sep
Sep
Credit of Previously-owned Clean Vehicles If you are in the market for a new to you clean vehicle this may be of interest to you and help you reduce your taxes. With the passing of the Inflation Reduction Act of 2022 on August 16, 2022, there is a new tax credit available for the purchase
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