July 10, 2024
We are thrilled that Cambaliza McGee LLP was recently named one of the 2024 Best Places to Work in Orange County by the Orange County Business Journal.
June 19, 2024
The Senate still needs to vote on the bill that would delay the phase-out of bonus depreciation (currently scheduled to go down to 60% in 2024 from 80% in 2023). In the meantime, businesses should consider the benefits of Fixed Asset Scrub as part of their tax planning strategy.
Tax Planning - Understand Inventory Write-Offs
June 12, 2024
Effective inventory management is essential for any business's financial health. Companies often hold damaged, defective, obsolete, or unsalable inventory in a back room or the corner of their warehouse. This can lead to an out-of-sight, out-of-mind issue. Writing off inventory can be an overlooked tax saving you should plan for each year.
The Tax Relief for American Families and Workers Act of 2024
June 07, 2024
Our team has followed the Tax Relief for American Families and Workers Act of 2024 (H.R.7024) for a few months. The U.S. House of Representatives passed the bill on January 31, 2024, but as of the end of May, the Senate has not addressed it. The bill garnered 83% approval votes in the House.
Understanding The Tax Benefits of Hiring Family Members
December 18, 2023
Running a business is challenging! There are many balls to juggle, and you need help, not just any help! You need to find someone who understands your goals for the business, is committed to the success of the business, and works as hard as you are in your business.
Changes Coming to Meal and Entertainment Expenses
December 05, 2023
The days of lavish spending and writing it off as an entertainment expense have already been impacted by reduced travel and entertainment (T&E) guideline spending at many corporations. New tax laws will impact these expenditures even more.