Small business owners can save on their taxes by taking advantage of tax credit opportunities. There are multiple small business tax credits that may be a fit for your business. Work closely with your Chugh CPAs, LLP professional to proactively plan and minimize your tax bill.
Corazon Chua truly enjoys that her role allows her to help clients manage their accounts with the firm.
Taxpayers who itemize on their federal tax returns can deduct certain state and local taxes (SALT). In 2017, The Tax Cuts and Jobs Act (TCJA) capped SALT deductions at $10,000. To counter this cap, the California Assembly recently introduced a pass-through entity (PTE) elective tax.
Investors incur capital gains taxes every time they sell stock for more than they paid. Taxes may vary depending on how long the shares were held. You can minimize your capital gains taxes – and continue to build wealth – by employing the right tax planning strategies.
Ashleen Sahni relishes being a certified public accountant (CPA) because she has a natural passion for her work. She enjoys doing taxes for her clients and helping them comply with accounting and tax laws.
Payroll management is one of the biggest expenses for a company, and it can be challenging. However, payroll is also one of a business’s most important responsibilities. Even small payroll mistakes can be costly and take time to fix.
The Employee Retention Credit (ERC) will no longer be available for the fourth quarter of 2021 for any businesses except Recovery Start Up Businesses (RSB). Qualified businesses can still claim the ERC for the first three quarters of the year 2021. Businesses must amend their payroll taxes accordingly.
There may come a time when business owners need to end their business and close operations. This is a multi-step process, which we have outlined below.
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.
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