Tax Treatment of Gambling Losses Under the One Big Beautiful Bill “Did your parlay hit?” asks your significant other across the table from you at Sunday brunch. The football game is down to the final seconds…and your bet just went sideways. You lower your head in shame. Another week, another parlay loss. We have all
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How the One Big Beautiful Bill (OBBB) Affects Private Universities and Colleges
RJS LAW – Your Trusted Nonprofit Lawyers for Compliance, Formation, and Audits From The Billboard To Your Inbox! The One Big Beautiful Bill (OBBB), passed by the 119th United States Congress contains numerous tax and spending regulation changes. With the goal of adjusting how large endowments are treated under the tax code, the OBBB made
EDD Payroll Tax Audits – What is the EDD Looking For?
EDD Payroll Tax Audits Being a tax-based law firm, RJS Law receives many calls from business owners facing Employment Development Department (EDD) Payroll Tax Audits. The EDD Audit process can seem confusing and overwhelming. The EDD auditor may ask for several documents or may be asking questions of the business owner and the business’ employees.
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
Living on the Edge – Life Without Creating a Will
Life Without Creating a Will Everyone dies eventually. You will die eventually. What is important is what you do with your time while you are alive. When I was touring law schools a professor told me he was married, had kids, and loved to drive his motorcycle up the coast of California. This seems like