Benjamin Franklin once said, “Our new Constitution is now established, everything seems to promise it will be durable; but, in this world, nothing is certain except death and taxes.” Franklin may have been correct regarding the certainty of death, but was he correct about the certainty of taxes?
News
Can Internal Revenue Code Section 1202 Benefit You?
There is a generous tax benefit that only select taxpayers qualify for. Not well known, it is called ‘‘qualified small business stock,’’ or QSBS for short, and is found in Section 1202 of the Internal Revenue Code. Titled the “Partial Exclusion for Gain from Certain Small Business Stock,” it allows taxpayers to exclude gain from certain stock.
An Update on California’s Proposals to Tax the Rich
During the summer of 2020, California’s political machinery continued to whine and hum. As its populace sheltered in place with COVID-19, two tax bills were introduced on the state’s Assembly floor.
Tax Return Demand from the FTB Intensifies
{{cta(’09b64408-9310-4451-9a41-0234b45d370e’,’justifyright’)}}Are you a marketplace facilitator or out-of-state business who has received a tax return demand from the California Franchise Tax Board? If so, read this before you respond. We’ve provided the essential background information you need to formulate a plan prior to your response.