Blog | Pisenti & Brinker LLP

Outsourced Accounting at Pisenti & Brinker LLP | August 8, 2023

By : Katie Bart August 24, 2023 Comments Off

In today's fast-paced business environment, companies face increasing pressure to streamline operations, enhance productivity, and optimize costs. One area that often demands significant resources and expertise is accounting. Maintaining accurate financial records, managing tax compliance, and providing timely reports are

Income Tax Provisions of the CARES Act

By : Pisenti & Brinker LLP March 30, 2020 Comments Off

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, H.R. 748, which passed the Senate by a 96-0 vote late on Wednesday, March 25, contains a host of tax measures as part of a $2 trillion aid package designed to

Corona Virus Emergency Loans

By : Pisenti & Brinker LLP March 30, 2020 Comments Off

Read the small business guide and checklist here.

Final regulations on hardship distributions for 401(k) plans

By : Pisenti & Brinker LLP December 5, 2019 Comments Off

On Sept.19, 2019, the IRS issued final regulations regarding the hardship distribution requirements for 401(k) plans (T.D. 9875). The regulations are issued pursuant to provisions of the Bipartisan Budget Act of 2018 (“BBA”) that amended the hardship rules. The IRS

Section 199A Safe Harbor For Rental Real Estate Has Been Finalized

By : Pisenti & Brinker LLP November 20, 2019 Comments Off

The determination as to whether a rental real estate enterprise rises to the level of a trade or business under section 162 is difficult, and in many cases unclear. But, it is critical when assessing whether rental real estate activities

IRS Offers Tax Relief Procedures To Certain Expatriates

By : Pisenti & Brinker LLP November 7, 2019 Comments Off

The IRS announced new relief procedures from paying back taxes for certain persons who have relinquished, or intend to relinquish, their U.S. citizenship and become compliant with their U.S. income tax and reporting obligations. The “Relief Procedures for Certain Former

California Makes Big Changes To Worker Classification

By : Pisenti & Brinker LLP October 24, 2019 Comments Off

In what could spark a national trend, California Gov. Gavin Newsom has signed Assembly Bill 5, dramatically changing the rules for determining when workers are considered independent contractors rather than employees. The new law provides that workers are presumed to be

IRS Issues Guidance on Uncashed Retirement Distribution Checks

By : Pisenti & Brinker LLP October 10, 2019 Comments Off

Frequently, a 401(k) or other retirement plan will issue a distribution check payable to a terminated employee. The Internal Revenue Code generally requires the plan administrator (typically, the employer) to withhold income tax from the distribution and to report the

Timely Mailed Is Not Always Timely Filed

By : Pisenti & Brinker LLP September 27, 2019 Comments Off

Practitioners who file documents or make payments with the IRS that are required to be filed or paid by a certain date or period are familiar with section 7502(a). Simply stated, if the submission is properly addressed, it will be

IRS changes rules for personal use of employer provided vehicle

By : Pisenti & Brinker LLP September 12, 2019 Comments Off

If an employer provides an employee a vehicle for personal use, generally the value of the personal use must be included as employee income. In most cases, an employer uses the general valuation rule to determine the fair market value