Joe Gubic

💡 Capital Acquisitions Tax (CAT) might seem complex, but for accountants, it’s a regular challenge that must be mastered to help clients leverage all available tax reliefs.👨💼 Understanding the various thresholds and exemptions allows for minimizing tax liabilities and maximizing the value of transferred assets. With CAT reliefs, your clients can preserve family wealth, and as their accountant, you play a pivotal role in this process.👩💼 Be sure to consider all aspects so that business transfers are as seamless and profitable as possible. For more insights, click on the link: https://lnkd.in/eTB3-jaX #TaxStrategy #BusinessSuccession 👩💼👨💼

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California FTB has approved proposed amendments to California’s income tax code. These changes would impact non-resident/non-employee corporate directors receiving fees for services performed outside of California if the corporation has a commercial domicile in California. The Chief Counsel Ruling 2019-03, emphasizes where services are executed over where decisions are made. The FTB's stance on taxing non-resident directors without a physical presence in California is under scrutiny. The implications of this rule extend to LLC managers and other flow-through leadership, raising questions about potential future tax reach by other states. #California #FTB

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Is you firm ready for the future of the accounting profession? In our three-part eBook, we share actionable steps to help ensure your firm is prepared for what lies ahead. Topics include: 📚 Building Firm Capacity - Without People 📚 Culture Wars - Navigating the Culture Shift 📚 The Erosion of the Partnership Model - From Partnerships to Corporations Download the eBook now: https://hubs.ly/Q02xf9vY0 #accounting #firmgrowth

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