2017 Tax Planning in the Trump Era of Tax Reform

2017-Tax-Planning

As we make our final approach towards closing out the tax year, business owners should be mindful of their business performance even more so due to the impending changes to our tax laws.  Both President Trump and the Senate have proposed their own versions of plans to overhaul our tax system. Read more

The CPA’s Role in Upgrading Construction Accounting Software

Upgrading Construction Accounting Software

A local residential builder in a fast-developing area saw business grow substantially for the past few years. He hired more employees, expanded his fleet of equipment and even redesigned the signage on his job sites.

One morning, his longtime bookkeeper asked to meet with him. She encouraged his continual investment into the business but wondered whether he might turn his attention from the field to the office. Read more

Tax Alert: Californians May Now Face Income Tax Rates Greater Than 50%

tax-compliance-services-in-newport-beach

MinowCPA Guide to Effective Tax Planning in 2013

Dear Clients and Friends:

In 2013, the Internal Revenue Service (IRS) and California Franchise Tax Board (FTB) increased the income tax brackets. The highest income earners now face a 39.6% federal marginal income tax rate. In addition, the IRS layered on two additional taxes for higher income earners, including a tax on Net Investment Income (NII) of 3.8% and a Medicare tax on wages and self-employment earnings of 0.9%.  California also increased its marginal income tax rate up to 10.3% for the highest earners. Thus, the combined Federal and State marginal income tax rate for many Californians now exceeds 50%! Read more