Taxation of Cannabis and Cannabis Products in California

February 27th, 2018

On November 8, 2016, Proposition 64 was approved in California, legalizing the commercial use cannabis by adults. Later, Proposition 64 was amended by Senate Bill 94 in order to standardize the licensing and regulation of medicinal and commercial cannabis. The new provisions created by this amendment are called the Medicinal and Adult-Use of Cannabis Regulation […]

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Bitcoin and Other Virtual Currencies

February 23rd, 2018

Bitcoin was created back in 2009. It’s a digital currency system that doesn’t have any central regulatory authority or bank. That means no government or financial institution regulates this currency. Apart from lacking a central regulatory control, Bitcoin is also unique as users can remain anonymous and perform transactions through only an identification number. Since […]

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Change The Date Initiative

February 12th, 2018

Each year, unbeknownst to many who are self-employed, business owners, or independent contractors, the City of Los Angeles requires everyone conducting business within the city limits to register his or her business and file a Business Tax Registration Renewal by February 28th. The major tax filings, Federal and State, on the other hand, are not […]

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Understanding New Tax Law Changes in 2018

January 23rd, 2018

SUMMARY OF NEW TAX LAW CHANGES Recently, the President signed the most substantial tax reform in over 30 years, the Tax Cuts and Jobs Act (TCJA).  While your 2017 tax returns will be prepared under the old laws, your 2018 tax return will look very different.  Since most of the changes don’t happen until 2018, […]

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Understanding AMT, Until It Gets Axed!

August 10th, 2017

  President Trump is proposing to ax the alternative minimum tax, but for now we can’t ignore it for tax planning. What is the AMT? AMT stands for Alternative Minimum Tax. It is a second taxing system that the government runs your returns through to see if adjustment items apply. In most cases, unfortunately, these […]

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