Nonprofit Officer Compensation Nonprofit organizations exempt from tax under Section 501(c)(3) and (4) of the Internal Revenue Code are permitted to pay compensation to their officers and executives. However, unlike for-profit businesses, nonprofit compensation is subject to legal scrutiny. So, what do nonprofit boards need to know about officer compensation? The law requires officer compensation
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Beyond Borders: Building Real Estate Wealth Internationally While Navigating U.S. Tax Rules
Building Real Estate Wealth Internationally Investing in international real estate is an increasingly popular strategy for diversifying your portfolio, building long-term wealth, and tapping into emerging global markets. From luxury vacation homes to income-generating rental properties, opportunities abound. However, with these opportunities come complex U.S. tax obligations that cannot be ignored. Missteps in compliance can
Do Influencers Pay Taxes? An Informational Guide to the Taxing of Content Creators
Do Influencers Pay Taxes? Are you an influencer or content creator wondering about taxes? This blog discusses do influencers pay taxes, how influencer’s income is taxed, what deductions influencers may take, and how to avoid common mistakes which may result in penalties. Introduction Whether you are on Instagram, TikTok, YouTube, or a podcast platform, chances
INCOME TAXES AND BANKRUPTCY
Income Taxes and Bankruptcy Filing for Chapter 7 bankruptcy involves specific requirements and carries implications regarding income taxes and bankruptcy for individuals. These implications may include focusing on filing requirements, the creation of a separate bankruptcy estate, the dischargeability of certain older tax debts, and tax refunds as potential assets. Pre-Filing Tax Requirements Before filing for
IRS Furloughs Thousands as Shutdown Continues: What It Means for Taxpayers Ahead of the October 15 Filing Deadline
IRS Furloughs Thousands As the federal government shutdown continues, the Internal Revenue Service (IRS) has furloughed nearly half of its workforce, significantly disrupting tax administration just days before the critical October 15 filing deadline. The shutdown, which stems from a lapse in congressional appropriations, has left approximately 34,000 IRS employees, roughly 46% of the agency’s
What the Government Shutdown Means for Taxpayers
Government Shutdown As of 12:01AM, October 1, 2025, the federal government has shutdown due to a lapse in appropriations and inability to pass the funding bill. So, what does the government shutdown mean for taxpayers, businesses, and tax professionals navigating ongoing controversies and enforcement matters? 1. What a Shutdown Is (and What it Is Not)
Beyond the Basics: Advanced Strategies for Managing Your California UI Rate and Minimizing Costs
California UI Rate For California businesses, unemployment insurance (UI) is a mandatory payroll tax designed to provide temporary financial assistance to eligible workers who lose their jobs through no fault of their own. While compliance with UI tax obligations is non-negotiable, many businesses overlook the proactive strategies that can significantly influence their UI rate and,
The OECD’s Two-Pillar Solution: Progress and Challenges in 2025
Organization for Economic Cooperation and Development OECD The Organization for Economic Cooperation and Development (OECD) has long championed a two-pillar approach to address the tax implications of digitalization and globalization. In 2025, this initiative remains at the forefront of international tax reform. While Pillar Two—introducing a 15 percent global minimum corporate tax rate—has gained traction
EDD Audit Process
The California Employment Development Department (EDD) conducts payroll tax audits to verify businesses are in compliance with the state’s employment tax laws. These audits are designed to ensure employers are correctly reporting and remitting taxes related to wages, unemployment insurance, disability insurance, and other employment-related obligations. For businesses operating in California, understanding the EDD audit
The Exception to the Exception to the Exception — California Court Rules Certain Medical Devices May be Subject to CDTFA Sales Tax
Certain Medical Devices May be Subject to CDTFA Sales Tax A recent California Appeals Court ruled certain medical devices may be subject to CDTFA Sales Taxes. In Medtronic v. CDTFA, a California Appeals court ruled a medical device maker was responsible for paying sales tax on the heart rate monitors it sold in California. This