News & Updates | Cobalt CPAs

Taxes 2022 | 9.62% Tax-deferred - U.S. Govt Guaranteed for You & and Gift Recipients ($25 - $10,000)

More attractive than your savings account, and more beneficial than gifting this Holiday Season with giftcards? Likely yes - and exempt...

Tax Alert: Why you Want to Purchase an Electric Vehicle in 2022 vs. 2023 (Ridiculous Income Limits)

2022 vs 2023 Electric Vehicles - How to Qualify

Inflation Reduction Act of 2022 passes Senate (08-08-22)

On Sunday, August 7, 2022, the U.S. Senate passed the Inflation Reduction Act of 2022. The bill is expected to be voted on by the House...

Tax Alert: CA FTB Passthrough Elective Tax Refund Issued in Error - Must be Returned

CA Franchise Tax Board systemwide errors have led to June 2022 passthrough entity elective tax prepayments to be incorrectly applied to...

IRS Errors in Applying Some 2021 Tax Payments - CP14's arriving

IRS errors are in full swing again this year. This year, the IRS is having problems with it's Direct Pay system. The IRS has confirmed...

2022 Taxes | Avoiding and Deferring Cap Gains - A Few Options

Executives and professionals with compensation packages heavy in equity awards often own highly appreciated concentrated stock positions....

June 30th, 2022: Signed into Law - Tax Refunds for 23 Million California Taxpayers

On June 30th, 2022 Newsom signed into law key elements of the new $307.9 billion state budget, which include a spending plan focused on...

2022 Tax Rates, Brackets and Schedules

Pass-through Entity Tax Election (PET) - Should You Consent? Examples

For taxable years beginning on or after January 1, 2021, and before January 1, 2026, qualifying pass-through entities (PTEs) may annually...

California Releases Guidance on its Newly Enacted Pass-Through Entity Tax (PTE)

The California Franchise Tax Board (FTB) issued guidance about the newly enacted elective pass-through entity tax (PTE) effective January...

2022 - 1099-Ks from PayPal, Square, Stripe and More Payment Apps

If you run a business and accept payments through third-party networks such as Zelle, Venmo, Square or PayPal, you could be affected by...