AZRAN FINANCIAL BLOG
ACCOUNTING, FINANCE, TAX & ADVISORY
A good entrepreneur may see a handful or a dozen companies in a lifetime, we see hundreds a month. Therefore, we can provide the inputs, outputs, and frameworks to help leaders make better decisions while also maintaining the feedback loop to adapt, adjust, and continuously improve.
This blog is a place to share insights on topics ranging from startup accounting to international tax to blockchain. We will also share important news and information about the accounting, finance, and tax arenas, and of course, also about our firm. Having staff and partners including some of the best accountants for startups to experts in international tax and cryptocurrency tax gives our group a lot of perspectives and value which we hope to share here with you to help us grow together!
Founder, Joshua Azran CPA/ABV/CFF, CMA, CGMA, CFE
Maximizing Deductions for Business-Use Vehicles
Corporate Income Tax, Entrepreneur, Federal Tax Law Updates, Partnership Income Tax, Tax PlanningHow would you like to squeeze more time out of your busy week, cut down on record-keeping duties, and reduce piles of paperwork and old receipts? The optional standard mileage rates for business vehicles can help you do just that. Businesses that operate up to four vehicles at the same time can deduct this standard […]
Meet YEC’s Rahim Fazal of Involver on #StartupLab
Events, StartupRahim Fazal, this week’s live chat host (click here to RSVP), still remembers the exact moment he knew he would be a lifelong entrepreneur. It was June 14th, 2000. Rahim was in his senior year at high school, and he’d just sold his first venture, a Web hosting company, for a sweet $1.5 million. “Up to that […]
Overview of the 2012 American Taxpayer Relief Act / Fiscal Cliff Legislation
C-Corporation, Corporate Income Tax, Entrepreneur, Estate Tax, Federal Tax Law Updates, Gift Tax, Individual Income Tax, International Tax, Partnership Income Tax, S-Corporation, Startup, State Tax, Tax PlanningAfter weeks, indeed months of proposals and counter-proposals, seemingly endless negotiations and down-to-the-wire drama, Congress has passed legislation to avert the tax side of the so-called “fiscal cliff.” The American Taxpayer Relief Act permanently extends the Bush-era tax cuts for lower and moderate income taxpayers, permanently “patches” the alternative minimum tax (AMT), provides for a permanent 40 […]
Meet Nick Friedman of College Hunks Hauling Junk on #StartupLab
Events, StartupWhen Nick Friedman (this week’s live chat host — RSVP here) and his best friend Omar Soliman co-founded College Hunks Hauling Junk, all they had was a beat-up van and a local service. But what started as a small business went VERY big, very fast, following a storm of media attention and customer demand. Nick and Omar — who […]
Planning Opportunities for New 3.8-Percent Medicare Tax Using S Corporations
C-Corporation, Corporate Income Tax, Entrepreneur, Federal Tax Law Updates, Individual Income Tax, Partnership Income Tax, S-Corporation, Startup, Tax PlanningPlanning Opportunities for New 3.8-Percent Medicare Tax Using S Corporations The Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act implemented Code Sec. 1411, which imposes a new 3.8-percent Medicare tax on unearned income of higher-income individuals. The tax will take effect January 1, 2013, and applies to the net investment income of […]
California Income Tax Update
C-Corporation, Corporate Income Tax, Individual Income Tax, S-Corporation, State TaxAn estimated tax underpayment penalty will not be imposed against taxpayers who underpay their estimated California personal income taxes to the extent that the underpayment was created or increased as a result of the personal income tax rate increases just approved by the voters with the passage of Proposition 30. California law contains a safe-harbor […]
Welcome to #StartupLab at Azran Financial APC: Your one-stop shop for all things entrepreneurship!
Entrepreneur, StartupHave you ever thought about what you would ask the founders of the world’s most successful startups — like RentTheRunway, 99Designs and iContact? If you could really pick their founders’ brains, what would you MOST want to know? We have some exciting news to share with you — you don’t have to wonder anymore. You can ask […]
Year-End Tax Planning for Business and the Fiscal Cliff
C-Corporation, Corporate Income Tax, Federal Tax Law Updates, S-Corporation, Tax PlanningAs a taxpayer, you are facing what is perhaps an unprecedented set of circumstances – the expiration of the tax rates enacted in 2001, the expiration of more than 150 tax provisions and a tax increase of more than $500 billion overall – that could result in a much higher tax liability when you file […]
Arrangements that Recharacterize Taxable Wages as Nontaxable Reimbursements or Allowances
C-Corporation, Corporate Income Tax, Federal Tax Law Updates, Individual Income Tax, S-Corporation, Tax PlanningThe IRS has provided guidance which clarifies that an arrangement that recharacterizes taxable wages as nontaxable reimbursements or allowances does not satisfy the business connection requirement for accountable expense reimbursement plans. In general, employee business expense reimbursements that are paid through an employer’s accountable expense reimbursement plan are excluded from the employee’s adjusted gross income. […]
IRS Guidance on Portability of Deceased Spousal Exclusion
Estate Tax, Federal Tax Law Updates, Gift Tax, Individual Income TaxThe IRS has recently issued guidance on the so-called portability election and the applicable estate and gift tax exclusion amount. As a surviving spouse, this guidance may impact your estate planning opportunities. In general, the estate tax is imposed on a decedent’s gross estate as increased by the decedents’ taxable lifetime gifts, and reduced by any […]