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So far BCo Author has created 45 blog entries.

Interview with Coben Tisdadt – Path to Partner

 

B+Co Partner Coben Tistadt is a life-long learner both professionally and in his personal life. He understands the importance of developing his team, providing thoughtful consultation, and providing advisory services with human intelligence and care. He is dedicated to building strong relationships with his clients and their teams to help them succeed. He knows it is important to always remain personable and compassionate and to connect with our clients so they know we understand their needs and empathize with their concerns.  Coben is a partner in our Pleasanton office and he has shared with us his journey on the path to partner.

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

I graduated college back in 1994 with a Bachelor’s Degree in Religious Studies. Not the most practical […]

By |March 21st, 2023|Categories: BCo Community News|Comments Off on Interview with Coben Tisdadt – Path to Partner

Planning to Deduct for Losses this Tax Season? Be Sure to Read the Fine Print.

 

Deducting losses is a high-priority item for taxpayers in the highest marginal income tax bracket. The topic will be especially relevant during the 2022 tax compliance season because of recent declines in the stock market and a challenging overall business environment.

With that said, you shouldn’t assume that every business operating loss or capital loss on investments will lead to a 1:1 deduction on your tax return. There are significant limitations and qualifications surrounding these losses, so it’s critical to understand the details.

In this article, we provide a primer on some of the loss limitations that are most likely to affect high income taxpayers during the upcoming tax filing season.

Not All Business Losses Are Tax Deductible

Rising interest rates and other effects of surging inflation have created a challenging environment across industries. […]

By |March 15th, 2023|Categories: Business Operations, Business Tax, IRS|Comments Off on Planning to Deduct for Losses this Tax Season? Be Sure to Read the Fine Print.

International Women’s Day

 

Over the past few decades, more women are entering the accounting field because it is a rewarding profession with countless opportunities for advancement.  At B+Co we encourage gender diversity and in honor of International Women’s Day, we want to thank all the women inside our firm who are continuously making a difference.

Today at B+Co, 63% of all employees and 50% of our partner group are women.  While our firm may not have a specific policy or program targeted toward attracting women, there are several reasons why women may want to work with us.

Firstly, our firm is strongly committed to providing a positive work-life balance for all of our employees. This is especially appealing to women who may have other responsibilities such as caring for children or elderly family members. We […]

By |March 8th, 2023|Categories: BCo Community News|Comments Off on International Women’s Day

Deferring a Tax Hit with a Sec. 1031 Exchange

 

Do you own commercial or investment real estate that has substantially increased in value? If you sell the property, you may be hit with a huge capital gain tax liability. Possible solution: Consider a Section 1031 exchange (also known as a like-kind exchange) in which you swap qualifying properties while paying zero or little current tax.

Recent legislation has narrowed the availability of Sec. 1031 exchanges, but you can still use this technique for qualified real estate transactions. However, keep in mind that a repeal or modification of the rules has been discussed. So, if you’re interested in an exchange, you may want to act soon.

What’s the deal?

Under Sec. 1031 of the Internal Revenue Code, you can defer tax on the exchange of like-kind real estate properties if specific requirements are […]

By |January 18th, 2023|Categories: BCo Community News|Comments Off on Deferring a Tax Hit with a Sec. 1031 Exchange

First-Year Bonus Depreciation and Sec. 179 Expensing: Watch Out for the Pitfalls.

 

Many companies are eligible for tax write-offs for certain equipment purchases and building improvements. These write-offs can do wonders for a business’s cash flow, but whether to claim them isn’t always an easy decision. In some cases, there are advantages to following the regular depreciation rules. So it’s critical to look at the big picture and develop a strategy that aligns with your company’s overall tax-planning objectives.

Background

Taxpayers can elect to claim 100% bonus depreciation or Section 179 expensing to deduct the full cost of eligible property up front, in the year it’s placed in service. Alternatively, they may spread depreciation deductions over several years or decades, depending on how the tax code classifies the property.

Under the Tax Cuts and Jobs Act (TCJA), 100% bonus depreciation is available for property placed […]

By |January 11th, 2023|Categories: BCo Community News|Comments Off on First-Year Bonus Depreciation and Sec. 179 Expensing: Watch Out for the Pitfalls.
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