Lee McDonald's Latest Posts
If you have ever wondered why your business in San Francisco, California, gets charged so much tax, it is because successful businesses are where the money is and the government wants as much of it as possible.
Safe Harbor CPAs Announces Post on Multistate Tax Return Preparation for Remote and ‘Work from Home’ Workers
San Francisco, California – November 30, 2020. Safe Harbor CPAs, a top-rated accounting firm in San Francisco, California, at https://www.safeharborcpa.com/, is proud to announce a new post on multistate tax issues, specifically the complexities of tax return preparation for remote and ‘work from home’ workers.
The Pandemic has changed a lot of things, among them: tax exposure. Many San Francisco Bay Area residents are now working remotely, and this “remote work” can create some new tax liabilities. How so? Well, as is always true with taxation: it depends. Let’s look at some common scenarios:
When you run a business in San Francisco, even if it is only a small business such as a restaurant or jewelers, you have all sorts of issues.
International taxes are extremely complex! There’s no getting away from it. You have the USA federal tax, the tax in the foreign country or countries, and you have state and local taxes here as well. Now tell me that’s not complicated!
Safe Harbor CPAs Announces New Post on Preparing California Tax Returns for Businesses and High Income Individuals
San Francisco, California – November 3, 2020. Safe Harbor CPAs, a team of accountants in San Francisco, California, is proud to announce a new post on tax return preparation for California businesses and residents. The recent Pandemic has caused extensive changes in both federal and California tax laws.
November 1, 2020 – San Francisco, California. Safe Harbor LLP, a San Francisco CPA firm focused on high net-worth individuals and Bay Area businesses at https://www.safeharborcpa.com/, is proud to announce a new post on the importance of finding a tax advisor in the current tumultuous environment.
Final regulations provide additional guidance on the base erosion and anti-abuse tax (BEAT) under Code Sec. 59A. The regulations also address certain aspects of the BEAT under Code Secs. 1502 and 6031. The final regulations retain the basic approach and structure of the 2018 proposed regulations ( NPRM REG-112607-19), with certain revisions. The final regulations generally provide rules addressing the […]
San Francisco Tax Preparation / CPA: IRS Clarifies Provisions of the SECURE and the Bipartisan American Miners Acts
The IRS has released guidance in the form of questions and answers with respect to certain provisions of the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act), and the Bipartisan American Miners Act of 2019 (Miners Act). Business CreditThe SECURE ACT added a new Code Sec 45T, which provides a business credit […]
San Francisco Tax Preparation / CPA: Medicaid Coverage of COVID Testing Is Not Minimum Essential Coverage
The IRS has announced that Medicaid coverage of Coronavirus Disease 2019 (COVID-19) testing and diagnostic services is not minimum essential coverage for purposes of the premium tax credit under Code Sec. 36B. Under the Affordable Care Act (ACA), certain taxpayers who obtain their coverage through an Exchange may claim a premium tax credit under Code Sec. 36B. […]