The TaxPlus Blog: Insights and Tips From Our TaxPlus Team

The pumpkin patch is open, Halloween and Dia de Los Muertos are coming up quickly! We will focus on a tax planning opportunity created by the higher SALT caps. This time we remind you of the benefit of having a side business, including but not limited to an S-Corp.  This strategy potentially allows you to […]

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The recently signed One Big Beautiful Bill Act (OBBBA) introduces sweeping tax changes that will impact both individuals and businesses beginning in 2025. From automatic filing extensions for Los Angeles County residents to a temporary increase in State and Local Tax (SALT) deductions, taxpayers need to understand how these updates may affect their 2024 and […]

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With the recent passage of the One Big Beautiful Bill Act (OBBBA), significant tax changes are now in motion. While many of these provisions phase in over several years, there are immediate implications for 2024 and 2025 tax filing that individuals, businesses, and particularly Los Angeles County residents need to know. Here’s a breakdown of […]

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March 15, 2025 S-Corp. and Partnership Deadline Approaching and BOI Report Update If you are a Los Angeles County resident, you have an automatic extension of time to file your S-corporation (Form 1120S) and partnerships (Form 1065) tax filings until October 15th, 2025.  These filings are normally due March 15th. Otherwise, if you are NOT a […]

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The BOI Filing Requirement on HOLD – originally due January 1st, 2025. An injunction from a federal court has paused the Corporate Transparency Act enforcement of the Beneficial Ownership Information report, but the possibility of enforcement remains in the future.   The last weeks of 2024 offer an opportunity for tax planning and for setting up […]

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