BCo Blog

Charitable IRA Distributions

A little known but potentially powerful tool for the philanthropically inclined is the “qualifying charitable distribution” (QCD) from an Individual Retirement Account (IRA).  A QCD must be: • From a traditional IRA or Roth IRA [...]

By |June 15th, 2016|Categories: BCo Community News|Tags: , , |Comments Off on Charitable IRA Distributions

Helping S Corporations Avoid Unreasonable Compensation Audits

Since compensation is subject to employment taxes (i.e., primarily Social Security and Medicare taxes) and distributions to shareholders are not, many S corporation owners reduce their compensation and increase their shareholder distributions in an attempt [...]

By |May 17th, 2016|Categories: BCo Community News, Business Operations, Business Tax, IRS|Tags: , , , |Comments Off on Helping S Corporations Avoid Unreasonable Compensation Audits

IRS Increases Interest Rates for First Time Since 2011

Effective as of the 2nd calendar quarter beginning April 1, 2016, the Internal Revenue Service has increased the interest rates by 1% for all non-corporate and corporate taxpayers. For taxpayers other than corporations (individuals, trusts, [...]

By |May 16th, 2016|Categories: BCo Community News, Business Tax, Individual Tax, IRS, Trusts and Estates|Tags: , , , , |Comments Off on IRS Increases Interest Rates for First Time Since 2011

Maximizing Benefits of §529 Plans

Using a §529 plan to pay for higher education costs can be a great tax savings tool in itself; although contributions are not tax deductible federally or for California, they are deductible in 34 other [...]

BCo Partner Diana Sosa Provides Tax Advice to Butte Fire Victims

San Francisco Partner Diana Sosa lent her expertise last week to a workshop hosted by United Policyholders for victims of last year’s Butte Fire whose homes were damaged or destroyed. Diana addressed concerns regarding this [...]

By |February 29th, 2016|Categories: Announcements, BCo Community News, Individual Tax|Tags: , , |Comments Off on BCo Partner Diana Sosa Provides Tax Advice to Butte Fire Victims

IRS Highlights Major Tax Changes for 2015

The IRS has issued a Fact Sheet (2016-8) that highlights major tax changes for 2015, including the renewal of many key taxpayer-favorable benefits through the PATH Act, a new way to save for retirement through [...]

By |February 18th, 2016|Categories: BCo Community News, Business Tax, Individual Tax, IRS, Retirement Planning|Tags: , , , , |Comments Off on IRS Highlights Major Tax Changes for 2015