Jay Zhu knew for a long time that he wanted to work in the accounting field. He finds accounting to be particularly rewarding because he can use his knowledge to help clients excel in tax, finance, and other matters. Jay takes pride in building strong, long-term relationships with client and forming a high level of trust with them.
Real estate investors generally need to pay tax on the profit, or capital gains, earned when they sell a property. However, US law[1] allows investors to defer capital gains taxes if they reinvest the sale’s proceeds into a similar property as part of a qualifying like-kind exchange.
During his long and varied career, Raj Patel has relished the opportunity to share his accounting expertise with clients of many sizes across a wide array of industries. He has served small gas stations, hotels, nonprofit organizations, and Fortune 500 companies.
The Senate recently passed Democrats’ $3.5 trillion budget resolution package. While the policy is not yet law, it could have major changes in store for how the US taxes cryptocurrencies. Specifically, the policy would impose reporting requirements on cryptocurrency brokers, similar to how stockbrokers must report customers’ sales to the Internal Revenue Service (IRS).
Beginning on July 15, 2021 the Internal Revenue Service (IRS) will allow certain taxpayers to sign up for monthly advance child tax credit (CTC) payments through an online tool.
With historically low mortgage interest rates, the real estate market is thriving in the United States. Whether you are purchasing new property, looking to sell, or simply hoping to lower your tax bill, join our Chugh CPAs, LLP team of experts for an insightful conversation on effective real estate tax strategies that can help you save money.
President Biden’s proposed American Jobs Plan would increase income taxes on corporate profits. The increased taxes would help fund the plan’s infrastructure improvement goals, estimated to cost $2.3 trillion.
Section 139 allows employers to offer tax-free disaster relief payments to their employees for certain unreimbursed expenses. While Section 139 payments cannot be used to pay wages, they can be used to reimburse employees for “reasonable and necessary” expenses incurred due to the COVID-19 pandemic.
President Joe Biden’s recent tax proposals could increase taxes for corporations and wealthy individuals while delivering benefits to certain individuals.
Jyoti Jhaveri is a Partner and Accountant in our firm’s Santa Clara, CA office.
Accounting was an easy career choice for Jyoti Jhaveri. Says Jyoti, “Growing up, I always loved working with numbers and people – accountancy was a natural extension.” After discovering accounting during her studies in business, Jyoti quickly realized that she enjoyed and could truly excel in the field. Before long, Jyoti decided to pursue finance as a full-time career.
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