Category: Business Owners

Business Owners

Year-End Tax Planning Amid Economic Uncertainty by Tony Gutierrez, CPA


Posted on November 29, 2022 by Anthony Gutierrez

Once again, year-end tax planning is complicated by an uncertain economic landscape. Despite a year of strong job growth and consumer spending, persistent inflation, rising interest rates and market volatility have stoked fears of an impending recession. On the political front, the November mid-term elections have left the country with a divided Congress that will […]

Tax Treatment of Casualty Losses and Casualty Gains from Hurricanes Ian, Fiona by Arthur J. Lieberman


Posted on November 02, 2022 by Art Lieberman

Taxpayers are often unaware of how the tax code treats property damage and losses they sustain from natural disasters, such as the recent hurricanes across Florida, the Carolinas and Puerto Rico. Many taxpayers are also surprised to learn that when insurance proceeds or other recoveries exceed the tax basis of damaged property, they may incur a taxable […]

Important Considerations for Adapting to Evolving Market Demands and Changing Business Models by Hector E. Aguililla, CPA


Posted on October 19, 2022 by Hector Aguililla

The pandemic and subsequent months of economic uncertainty have proven that change is the one constant business leaders must accept and continually prepare for, not only to survive, but also to thrive over the long term. While changes may involve modifications to specific segments of a business, such as narrowing or expanding geographic distribution, products […]

What is an Opportunity Zone? by Alex Keneiby, CPA


Posted on October 11, 2022 by Alex Keneiby

At the end of 2017, the Tax Cuts and Jobs Act introduced the concept of Qualified Opportunity Zones (QOZs) to help incentivize private investment into revitalizing economically distressed communities throughout the U.S., the District of Columbia and five U.S. territories. In return for their investments into these state designated QOZs, private individuals and businesses can […]

UPDATED – IRS Extends Tax Relief to Victims of Hurricane Ian by Tony Gutierrez, CPA


Posted on October 03, 2022 by Anthony Gutierrez

The IRS has extended until Feb. 15, 2023, various tax-filing and tax-payment deadlines for individuals and businesses recently impacted by Hurricane Ian, which made landfall on Florida’s west coast on Sept. 28, 2022. The postponed deadline applies automatically to taxpayers with homes or businesses located anywhere in the states of Florida, North Carolina and South […]