BCoAuthor

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So far BCo Author has created 8 blog entries.

Starting a business and not sure if it’s worth consulting with a professional?

It’s worth it!

Bregante + Company LLP is solidly grounded in the fundamentals of traditional tax and accounting services. However, we believe that our clients especially value our service partnership approach to advising them, and in particular our creative approach to helping protect their interests during certain critical transactions that call for our expertise.

At B+Co, we are able to consult with our clients during the entire life cycle of their businesses; from entity selection and formation (LLC, Corp, Non-Profit), to retirement and business succession planning, and everything in between. Whether a client has 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 […]

By |June 8th, 2021|Categories: BCo Community News, Business Operations, Business Tax|Comments Off on

Further Explanation on 100% of Business Meals Deductibility in 2021 & 2022

On Thursday April 8th, the IRS issued Notice 2021-25 providing further guidance on when the temporary 100% deduction for meals applies and when the 50% limitation continues to apply.  In addition, the IRS explains the term ”restaurant” means a business that prepares and sells food or beverages to retail customers for immediate consumption, regardless of whether the food or beverages are consumed on the business’s premises.

Additional detail is available here:

By |April 19th, 2021|Categories: Business Operations, Business Tax, IRS|Comments Off on Further Explanation on 100% of Business Meals Deductibility in 2021 & 2022

Stress Awareness Month

Have you been feeling a little or a lot overwhelmed, have deadlines and a super long to-do list, and you’re just in over your head?  Not to mention Tax Day is quickly approaching!  Well, you’re not alone. Everyone feels stressed from time to time, especially as the responsibilities stack up on our plate.  The thing about stress is, a little bit of it isn’t necessarily a bad thing, but too much of it can be detrimental to our emotional and physical health.  Learning to find that healthy balance is the best way to live a productive, happy life.

A small amount of stress once in a while is a good thing because it means you’re working hard, and you care about what you’re doing.  However, too much stress prohibits us from […]

By |April 2nd, 2021|Categories: BCo Community News|Comments Off on Stress Awareness Month

PPE is Tax Deductible

Did you know face masks and other personal protective equipment to prevent the spread of COVID-19 are tax-deductible?

Today the IRS issued Announcement 2021-7 clarifying that the purchase of personal protective equipment, such as masks, hand sanitizer, and sanitizing wipes, for the primary purpose of preventing the spread of coronavirus are deductible medical expenses under § 213(d) of the Internal Revenue Code.  To learn more, click the link in our bio.

Therefore, amounts paid by an individual taxpayer for COVID-19 PPE for use by the taxpayer, the taxpayer’s spouse, or the taxpayer’s dependent(s) that are not compensated for by insurance or otherwise are deductible under § 213(a) provided that the taxpayer’s total medical expenses exceed 7.5 percent of adjusted gross income.

The amounts paid for personal protective equipment are also eligible to […]

By |March 26th, 2021|Categories: BCo Community News, IRS|Comments Off on PPE is Tax Deductible

Interview with Jennifer Ruth – Path to Partner

In honor of Women’s History Month, it is important to acknowledge that gender diversity at the leadership level can drive advancement, productivity and financial success. This road to leadership is different for everyone. For B+Co’s Jennifer Ruth, Office Managing Partner in San Francisco, it meant being a team player who is focused and flexible. We asked Jennifer about her journey into leadership as a woman and how she developed along her own Path to Partner.

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

I started right out of high school as a receptionist for a CPA firm.  Then when I was just starting college at Cal State East Bay, working for the firm guided me to focus on an accounting degree.  I ended up staying […]

By |March 23rd, 2021|Categories: BCo Community News|Comments Off on Interview with Jennifer Ruth – Path to Partner
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