| Ramping up to the election, we get lots of questions about potential tax changes. Below are some proposals that are on the table – summarized in plain English!
Increase to Top Marginal Tax Rate Increase to Qualified Dividends and Long-Term Capital Gains Tax Loss of Stepped-Up Basis upon Inheritance Federal Estate Tax Exemption |
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Understanding Your Tax Obligations as a Pass-Through Entity
Pass-through entities offer a distinct tax advantage over traditional C-corporations. They are not required to pay federal taxes at the entity level. Instead, each owner must report their share of the business profits, losses, and other tax items on their individual tax returns. This prevents double taxation, a common concern for business owners, where income […]
Tax Relief for Los Angeles County Residents: Extended Deadlines
The IRS and the State of California have extended the deadline for Los Angeles County taxpayers. County residents have until October 15, 2025, to fulfill their tax filing and payment obligations, providing significant relief during these challenging times. Who Qualifies for Relief? Taxpayers with a recorded address in Los Angeles County automatically qualify for this […]
New Year, New Goals: Elevate Your Business with Us!
As we welcome the new year, we want to take a moment to reflect on our journey and the opportunities that lie ahead. At Brunner Accounting, we manage all your accounting needs and compliance, enabling you to focus on your business. We aim to connect you with an extensive network of professionals, as we believe […]
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