Tax Cuts and Jobs Act Key Elements

Individual and corporate tax returns will look significantly different come April of 2019. The Tax Cuts and Jobs Act passed in both the House and Senate last week and was officially signed into law on Friday by the President. Key changes to the tax code include a sharp reduction in the corporate tax rate, formation of new, lower tax brackets and elimination of certain deductions and credits.

Sweeping Changes to California Board of Equalization

Most California businesses and individuals are familiar with the California Board of Equalization (BOE) as the taxing authority that administers state tax laws, collects taxes, conducts audits and hears appeals. Unlike other states that have a Department of Revenue, the BOE is an elected tax commission composed of five board members who serve concurrent four-year terms.

What You Need to Know about the Tax Treatment of ISOs

Incentive stock options allow you to buy company stock in the future at a fixed price equal to or greater than the stock’s fair market value on the grant date. If the stock appreciates, you can buy shares at a price below what they’re then trading for. However, complex tax rules apply to this type of compensation.