Author Archives: Fernando Jimenez

By Fernando Jimenez The IRS announced on September 14th that it has put a hold on processing all new Employee Retention Credit (ERC) claims through the end of 2023. The

By Fernando Jimenez In December 2022, President Biden signed the Setting Every Community Up for Retirement Enhancement (SECURE) 2.0 Act. Among other things, the sweeping new law made some significant

By Fernando Jimenez The airwaves and internet are inundated these days with advertisements claiming that businesses are missing out on the lucrative Employee Retention Tax Credit (ERTC). While some employers

By Fernando Jimenez Three years later, in December 2022, the SECURE 2.0 Act increased the RBD age for RMDs further. This year the age increased to 73, and it’s scheduled to

By Fernando Jimenez Recent reports have raised anew concerns about the impending insolvency of the Social Security program, absent congressional action. Social Security reform has long been considered a “third

By Fernando Jimenez The Inflation Reduction Act (IRA) extended and expanded the Section 30D Clean Vehicle (CV) Credit, previously known as the Electric Vehicle (EV) Credit. The credit now covers “clean

By Fernando Jimenez The state of California is conforming with the IRS and extending the tax filing deadline for Californians affected by December and January winter storms. The extended deadline

By Fernando Jimenez The 2022 mid-term election has shifted the scales in Washington, D.C., with the Democrats no longer controlling both houses of Congress. While it remains to be seen

By Fernanco Jimenez It’s been a tumultuous year for many businesses, and the current economic climate promises more uncertainty for the short term, if not longer. Regardless of how your

By Fernando Jimenez California passthrough entities (PTEs) that made the initial June 15 passthrough entity elective tax payment can take advantage of increased federal tax savings by paying the remainder

The IRS recently issued its 2023 cost-of-living adjustments for more than 60 tax provisions. With inflation up significantly this year, many amounts increased considerably over 2022 amounts. As you implement

Mitigating the adverse effects of climate change is one of the primary targets of the recently enacted Inflation Reduction Act (IRA). To that end, the legislation is packed with tax

When President Biden signed the Inflation Reduction Act (IRA) into law in August, most of the headlines covered the law’s climate change and health care provisions. But the law also

The Inflation Reduction Act (IRA) includes a wide range of tax incentives aimed at combating the dire effects of climate change. One of the provisions receiving considerable attention from consumers

RJI CPAs has recently learned that due to errors with the Franchise Tax Board (FTB) processing of passthrough entity tax payment vouchers, the FTB is erroneously issuing refunds of the

While the recently announced student loan debt relief has captured numerous headlines, it’s estimated that another federal relief program announced on the same day will provide more than $1.2 billion in

On August 24, President Biden announced a three-part plan addressing student loan debt. The three parts encompass the following: The Administration has already extended the student loan repayment pause several

CHIPS Act poised to boost U.S. businesses The Creating Helpful Incentives to Produce Semiconductors for America Act (CHIPS Act) was recently passed by Congress as part of the CHIPS and

The Tax Cuts and Jobs Act (TCJA) significantly boosted the potential value of bonus depreciation for taxpayers — but only for a limited duration. The amount of first-year depreciation available

In 2019, the bipartisan Setting Every Community Up for Retirement Enhancement Act (SECURE Act) — the first significant legislation related to retirement savings since 2006 — became law. Now Congress