California has joined the growing list of states that have enacted a SALT cap workaround. California Governor Gavin Newsom recently signed Assembly Bill 150, eliminating the $10,000 cap on the
Consider Taxes Before Moving Out of State
With so many people working remotely these days, it has become common to think about moving to another state — perhaps for better weather, to be closer to family or
Will Changes to CA’s PPP Loan Bill Affect Your Business?
California enacted a law in late 2020 allowing businesses to exclude PPP loan amounts under the federal CARES Act for state tax purposes, but denying a deduction for expenses paid
$1.9 Trillion American Rescue Plan Act
On March 11, 2021, President Biden signed the American Rescue Plan Act of 2021 (ARPA). This $1.9 trillion stimulus package contains extensions to unemployment, stimulus payments and provisions for small
New Law Extends Opportunity for Businesses to Claim Employee Retention Credit
The Consolidated Appropriations Act of 2021, signed into law in December 2020, modified some of the CARES Act provisions, including expanding Employee Retention Tax Credit (ERTC) eligibility and extending the
PPP Loan Applications Re-Open
Key Changes and Upcoming Deadlines The U.S. Small Business Association and Treasury re-opened the Paycheck Protection Program (PPP) on January 11, 2021. Initially, only community financial institutions that serve minority-
COVID-19 Relief Bill Signed into Law
President Trump signed off on a $900 billion COVID relief bill on December 27, 2020, offering economic aid as the pandemic worsens. His approval came just in time to avert
Potential Impacts of the Election on Tax Reform
The recent presidential and upcoming Senatorial special elections may have a significant impact on tax law next year (2021) and therefore the need for 2020 year-end tax planning is extraordinarily
