Understanding and Qualifying for the Work Opportunity Tax Credit

Posted on February 1, 2022February 8, 2022 by Liz Prehn Business Law,

A robust economy relies on a business environment that promotes growth. One way to achieve this is to incentivize companies to expand their workforce. The Work Opportunity Tax Credit (WOTC) represents a government effort to boost hiring, while creating opportunities for traditionally marginalized workers. Let’s take a closer look at...

Watch Our Latest Webinar on Historic Building Tax Credits

Posted on January 13, 2022April 6, 2022 by Liz Prehn Webinar, Real Estate Law,

Recorded: Tuesday, January 25 Watch Recorded Webinar Real estate is an important part of any comprehensive financial portfolio, but when it comes to utilizing tax credits, many property owners continue to lose out. Despite the benefits, finding and applying applicable tax credits can be difficult and overly complicated, meaning many...

The Aftermath of IRS Offshore Voluntary Disclosure Program- Foreign Bank Accounts

Posted on January 12, 2022February 1, 2022 by Jessica Hererra International Taxation,

You made an Offshore Voluntary Disclosure, now what? In July 2019, the Internal Revenue Service (“IRS”) Large Business and International Division announced the next steps after taxpayers made a voluntary disclosure regarding unreported bank accounts or foreign assets. When taxpayers make a voluntary disclosure, each taxpayer essentially promises to stay...

Plan Your 2022 Retirement Contributions

Posted on December 31, 2021December 31, 2021 by Liz Prehn Uncategorized,

As part of your planning for next year, now is the time to review funding your retirement accounts In 2022. With the cost of living calculations and increases in inflation, higher phaseout limits make many more taxpayers eligible for fully deductible contributions. So plan now to take full advantage of...

Watch Our Webinar on Profit Optimization through Tax Services

Posted on December 3, 2021January 28, 2022 by Liz Prehn Webinar, Tax Services,

Increase Profit and Make Better Business Decisions through your Tax Services Watch Recorded Webinar The global focus on tax and its pervasive impact on businesses, brings to light the key questions business owners, CEOs, CFOs, and managing partners should be asking, "Do we have the right information to properly manage...

Can I Have Cryptocurrency in my IRA?

Posted on November 17, 2021January 12, 2022 by Liz Prehn Cryptocurrency Tax Assistance,

If you’re like most of us, building financial security for retirement is important to you. You may already have an individual retirement account (IRA) through your job, which you can grow by adding funds over time. But there are alternatives to the traditional IRA that promise even greater returns on...

Glossary of Common Cryptocurrency Terms

Posted on November 9, 2021November 17, 2021 by Liz Prehn Cryptocurrency Tax Assistance,

Overview Investing in cryptocurrencies has increased dramatically over the past decade as investors seek better and more rapid returns. If this is your first foray into the world of crypto, however, you may find some of the terminology confusing. To help demystify at least some of these terms, we’ve created...

Preparing for a California Residency Audit

Posted on November 3, 2021December 6, 2021 by Liz Prehn Tax: Audits, Litigation & Collection, State & Local Taxation,

California taxing authorities aggressively pursue state revenue through taxation, and devote a significant amount of their resources to residency audits and litigation. Gilbert Hyatt made history and $90 million when he invented the integrated circuit microprocessor (the computer microchip). Little did he know at the time that he would also...

Tax Planning for Cryptocurrency Miners and Stakers

Posted on October 26, 2021November 9, 2021 by Liz Prehn Cryptocurrency Tax Assistance,

In the last 20 years, cryptocurrency has opened an exciting new world of investment opportunities. Popular currencies like Bitcoin, Litecoin, and Zcash have sparked interest with promises of high earnings and rapid returns on investment. In all the excitement, it’s easy to forget that whether you run or stake a...

California News AB150

Posted on October 19, 2021November 9, 2021 by Liz Prehn State & Local Taxation, Tax Planning & Compliance,

AB150 CREATES WORKAROUND FOR CURRENT $10,000 LIMITATION ON DEDUCTION FOR STATE AND LOCAL TAXES PAID Governor Newsom signed California Assembly Bill 150 (AB150) into law on July 16, 2021, which created a workaround for the current $10,000 limitation on the deduction for state and local taxes paid for individuals established...

Watch Our Webinar on Year End Tax Planning

Posted on October 13, 2021December 9, 2021 by Liz Prehn Tax Planning & Compliance, Webinar,

Learn about proactive, year end tax planning from our tax professionals. Watch Recorded Webinar Many businesses and investors underestimate how much money can be saved through year-end tax planning from Moskowitz. This webinar focuses on the benefits of year-end tax planning. Tax planning is especially helpful for: Business owners Real...

Record Keeping for Businesses

Posted on October 12, 2021October 20, 2021 by Liz Prehn Tax Services, Tax Planning & Compliance,

What records should your business keep, and how long should you keep them? There are several categories to consider when record keeping for businesses, some for internal purposes and some for tax returns and other government requirements. Let's take a look at these by category. Tax records. First, consider the...

Do You Have a Shoebox Full of Receipts? Failed to Implement Quickbooks?

Posted on October 5, 2021October 12, 2021 by Liz Prehn Tax Services,

Get rid of the shoebox! Why people get into tax trouble. After over 30 years of tax law practice, Moskowitz LLP knows why people get into tax trouble. The most common reason:Books and Records are a Mess. This is the number one reason people get into tax trouble. Every person...

Tax Resources

Tax Lawyer Blog