Qualified Opportunity Zones (QOZ) is a new benefit created with the new tax reform legislation and is one of the largest incentives to taxpayers that we’ve seen in a long time. Although fairly complex in terms of timing, they are simple to set up and maintain—absolutely worth the effort in terms of tax savings. (View…
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If you’re planning to utilize the benefits of a Qualified Opportunity Zone (QOZ), you must invest your gain into a Qualified Opportunity Fund (QOF). They are fairly simple to create, but be cognizant of the tests to stay certified and the deadlines for avoiding penalties. Read on to learn more about how, when, and why…
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(Updated August 20, 2019) If you’re considering investing in a Qualified Opportunity Zone, you need to understand what the IRS considers to be “eligible improvements.” Some, but not all, necessary guidance has been issued about the types of property, businesses, and improvements that do and don’t qualify for this great incentive. We will continue to…
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The term “R&D Tax Credit” for Fresno business owners might conjure images of lab coats, high tech manufacturing lines, or in-depth computer research and cause them to think the credit couldn’t apply to them. This common misconception may be keeping some businesses from reaping thousands (or possibly even hundreds of thousands) of dollars in tax…
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What if I told you that one of the most important decisions you’ll make about your new business isn’t about your product, your business plan or even how you plan to make money? One of the most important decisions you’ll ever make is choosing which entity type is right for your new business. There are several…
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Be honest– how many times have you claimed the full amount on a receipt as a business deduction with non-business related items on it? For example, purchasing gas, a legitimate business expense, but then also including a soda and bag of chips in the total amount of the deduction. Mixing personal and business expenses on…
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