by Anthony Imbimbo | Jan 3, 2026 | Uncategorized
Happy New Year! “One Big Beautiful Bill Act” (OBBBA), signed in July 2025, which made many existing tax provisions permanent and introduced several new, temporary deductions and adjustments. Key Take Aways: SALT Cap increased to $40K from $10K, Seniors get...
by Anthony Imbimbo | Feb 26, 2024 | Uncategorized
Should I be an Independent Contractor or an Employee? What’s better? How do I choose? These questions arise (or the decision is made for you) when you start a new gig. For most workers, the answer is simple; you’re an Employee. The good news about this...
by Anthony Imbimbo | Feb 19, 2024 | Uncategorized
Many people ask me if they can take a “home office” deduction on their tax returns and here’s the answer. If you are a sole proprietor or landlord, you can take a deduction for using a portion of your home against your business earnings on your tax...
by Anthony Imbimbo | Feb 12, 2024 | Uncategorized
There are late changes to the 2023 tax law which propose to help families who are filing their 2023 tax returns but the legislation hasn’t become law yet. The Tax Relief for American Families and Workers Act is a retroactive tax law change that provides only two...
by Anthony Imbimbo | Feb 9, 2024 | Uncategorized
Airbnb VRBO Owners May See a 15% Tax in California California lawmakers are considering whether to tax short-term rentals to help fund affordable housing initiatives. The proposed California tax would be 15% on the rental price for short-term rentals (i.e., properties...
by Anthony Imbimbo | Feb 1, 2024 | Uncategorized
THE S CORPORATION Like LLC’s, S Corporations offer the benefit of limiting the business liability at the entity level giving you protection from law suits. Also S Corporations are a “pass through” tax entity, meaning that the taxable net income or...
