Tax Court Confirms No Deductions for State-Legal Cannabis Business, Part I: Harborside on the Front Lines Again

Here we examine the operations of Harborside, a state-legal California nonprofit medical marijuana dispensary, and its recent tax court challenge. Few industries have experienced greater legal and regulatory challenges than the U.S. cannabis industry. In this blog series, we are going to focus on a specific medical marijuana dispensary in...

Businesses Entitled to Deduct Charitable Contributions Received in Exchange for SALT Credits

One of the more controversial provisions of the Tax Cuts and Jobs Act (TCJA) of 2017 was the addition of 26 U.S. Code § 164(b)(6), which capped the tax deduction for state and local taxes (SALT) paid by an individual to $10,000 per year ($5,000 for married taxpayers who file...

U.S. Department of Justice Announces New Policies for Prosecution of Corporations, Focusing on Individual Wrongdoers

Justice Department announces new policies for prosecuting individuals who are responsible for corporate wrongdoing. This past November, Deputy Attorney General Rod J. Rosenstein announced that the Department of Justice has enacted changes to its policies and procedures regarding the prosecution of corporate financial fraud and other misconduct. Corporate fraud: the...

Leaving California and the Franchise Tax Board Behind: A Little Q&A on California Exit Planning

Individuals and businesses alike are leaving California to take advantage of lower taxes, lower labor costs, more affordable living, and less stringent regulations elsewhere. If you are part of this exodus, it is important to plan your move carefully so that the State of California has no reason to continue...

2018 Tax Prep and Organizer Resources

Our attorneys and accountants have extensive experience preparing tax returns and other reports to federal, state and other taxing agencies. The firm handles both routine and complex tax filings at the federal, state and local levels. We prepare the full range of returns, including individual income tax returns,corporate tax returns,...