California residents and businesses in certain counties have been given an extension until May 15, 2023 to file their federal income tax returns for 2022. The extension is for taxpayers
117th Congress Rushes to Pass a $1.7 Trillion Omnibus Spending Package before it ends January 3, 2023: What’s Included?
Just before funding for the federal government was set to expire on December 23, 2022, Congress passed—and President Biden is poised to sign—the Consolidated Appropriations Act of 2023. The nearly
Act now to reduce your business’s 2022 tax bill
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 company has fared
PTE Payments Made by Dec. 31 Trigger Federal Deduction
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 of the 2022
What do the 2023 cost-of-living adjustment numbers mean for you?
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
Inflation Reduction Act expands deductions for energy-efficient construction
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
Inflation Reduction Act expands valuable R&D payroll tax credit
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
Clean Vehicle Credit comes with caveats
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
FTB Admits Errors on PTE Payments
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
