Today, once a business starts carrying on business (when it is no longer getting ready, but is instead ready to serve customers), it can start amortizing its start-up expenditures as defined under IRC Section 195 over 15 years. If the
San Jose State University Blogs
Latest from San Jose State University
Modernizing California’s Tax System for Equity and Logic
Excerpt: California Tax Expenditure ReportCalifornia’s tax system has a few longstanding weaknesses including volatility in its income tax and a sales tax system designed for the early 20th century economy. Also, like the federal government and other states, California
Improving the American Opportunity Tax Credit
Excerpt from Pub 970In May 2024 I had the opportunity to participate in the California Lawyers Association Tax Section’s DC Delegation. Participants identify a tax rule in need of reform and draft a paper explaining why change is needed
Need for More Red Flags and Enforcement to Pursue Tax Cheaters
40th Annual TEI-SJSU High Tech Tax Institute Nov 4 – 5
This is a wonderful milestone – 40 years of the collaboration of the Silicon Valley TEI Chapter, the IRS and the SJSU MST Program to reach our 40th Annual TEI-SJSU High Tech Tax Institute. We’ll be back at the
California AB 3289 and Greater Transparency for Our Tax Laws
California AB 3289 was enacted 7/15/24 (Chapter 124). It modifies Revenue & Taxation Section 41 which exists to improve accountability and transparency of the California tax system. Generally, any credit, deduction, exclusion, exemption of other tax benefit enacted is to
Budget Literacy for Form W-2
H.R. 8372, Debt Per Taxpayer Information Act, proposes to require the IRS to add this information to the bottom of Form W-2: 1) Total revenue, outlays and deficit of the Federal government; 2) Total gross Federal debt; and 3)
Olympics Tax Fun
For the summer Olympics of 2016, I wrote an article on what a State Tax Decathlon could look like. Here are the events:
calculate state taxes for professional athlete
individual
Helping Some Taxpayers But With Much Complexity – SECURE Act 2.0 Sec. 115 Emergency Withdrawals
SECURE Act 2,0 with over 60 provisions mostly all related to retirement plans, was enacted December 29, 2022 as part of the Consolidated Appropriations Act, 2023 (P.L. 117-238). I maintain a table of the provisions, summary from the
