BCo Author – Bregante+Company LLP

Interview with Jeff Belingheri – Path to Partner

It’s summer and this means more to those who work in the accounting industry. This is the time between the two busiest seasons for us at B+Co. It is time for us to not only meet with our clients to provide consultation and planning, but to also do the things we love outside of work. Work/life balance is not just an ideal, but a reality for the B+Co team. Jeff Belingheri, Managing Partner in Novato, reminds us of the importance of self-care while striving to be your best professionally. He has been a Partner with Bregante since 1996 and his leadership is without comparison.

Tell us your story and how you decided on a career in accounting.

I went to Cal Poly San Luis Obispo with the intent to study architecture, but […]

By BCo Author|July 22nd, 2022|Categories: BCo Community News|Comments Off

Three Ways to Deduct the Cost of Business Property

Under current law, taxpayers have a variety of options for deducting some or all of the cost of property used in business rather than depreciating it over a period of years. Here’s a quick overview of three of them:

De Minimis Expensing Safe Harbor

Taxpayers with “applicable financial statements” (such as a certified audited financial statement) can deduct up to $5,000 per invoice or item for certain tangible property costs to the extent they deduct them for financial reporting or bookkeeping purposes. Those without applicable financial statements can deduct up to $2,500. Certain exceptions apply.

This safe harbor avoids the need to determine whether low-cost items are deductible or must be capitalized, as well as the need to depreciate large numbers of small-dollar capital asset purchases. It does not, however, preclude the deduction […]

By BCo Author|July 8th, 2022|Categories: Business Operations, Business Tax|Comments Off

Client Highlight: Custom Fit

At B+Co, we truly appreciate our clients, whether they have one small business or multiple entities involved in diverse business operations. We find that helping our clients focus on long-term considerations and goals results in the most opportunity for success. We are happy to share some of those successful clients now with our new segment: Client Highlights.

Today B+Co introduces Custom Fit who has been a client since 2016.

Custom Fit is a personal training and nutrition studio in San Francisco. Registered Dietitians and Personal Trainers craft customized plans for each member. Each program design is unique, but all are rooted in science. The initial training session includes biometric testing and is followed by several movement tests to help determine any muscle imbalances as well as current strengths, weaknesses, endurance, etc. The […]

By BCo Author|September 28th, 2021|Categories: BCo Community News, Client Highlights|Comments Off

September is National Preparedness Month!

September is National Preparedness Month. Unfortunately with hurricane season here and the ongoing threat of wildfires in some parts of the country, it is important for us to remind our clients to prepare for natural disasters and have an emergency plan in place.

All taxpayers, from individuals to organizations and businesses, should take time now to create or update their emergency plans. This plan should include securing and duplicating essential tax and financial documents, creating lists of property, and knowing where to find information once a disaster has occurred.

Be Secure

It is best if you keep critical original documents inside waterproof containers and in a secure place. Documents such as tax returns, birth certificates, deeds, titles, and insurance policies should also be duplicated and kept with a trusted person outside the area […]

By BCo Author|September 3rd, 2021|Categories: Announcements, BCo Community News|Comments Off

Higher Education Tax Credits

As a new school year approaches, students are considering what classes they need to take and how much those classes will cost. Whether it’s a community college, a trade school, a four-year university, or an advanced degree, higher education is expensive. The good news is tax credits can help offset these costs by reducing the amount of tax someone owes.

If taxpayers, their spouses, or their dependents take post-high school coursework, they may be eligible for a tax benefit when they file their tax return next year.

Reach out to us to learn about the two credits available to help you save money on higher education.

By BCo Author|August 24th, 2021|Categories: BCo Community News|Comments Off