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California Pass-Through Entity (PTE) Elective Tax Payment: A Comprehensive Guide by CAPATA Qualified pass-through entities, including S corporations, partnerships, and LLCs, and their owners have the option to make an annual election to pay California’s pass-through entity elective tax (PTE) and receive associated tax benefits. To preserve the right to make this election for the 2024 taxable year, a prepayment must be made by June 17, 2024. Failure to make … Read more

Important Update: New Beneficial Ownership Reporting Requirements Starting January 1, 2024 At Capata, we want to ensure you’re informed about a significant regulatory change that could impact your business. Effective January 1, 2024, the Federal Corporate Transparency Act (CTA) will require many U.S. businesses to report Beneficial Ownership Information (BOI) to the Financial Crimes Enforcement Network (FinCEN), a bureau under the U.S. Treasury Department. Understanding the Corporate Transparency Act (CTA) … Read more

Navigating Business Formation: A Comprehensive Guide by CAPATA Introducing a Guiding Light in Business Formation: CAPATA – Your Southern California Accounting Partner Step into a world of possibilities with CAPATA, a renowned name in Southern California’s financial landscape. As your trusted accounting ally, we are committed to helping you shape your entrepreneurial dreams into reality. At CAPATA, we recognize the pivotal role business formation plays in crafting your future success … Read more

Maximizing Your Financial Potential: End of Year Tax Planning with CAPATA As the year draws to a close, thoughts turn towards holiday celebrations, cozy evenings by the fire, and the promise of a fresh start. Amidst this festive atmosphere, there’s one more essential task that deserves your attention: end-of-year tax planning. In this comprehensive guide, we’ll delve into the intricacies of end-of-year tax planning and reveal how CAPATA, Southern California’s … Read more

Navigating ERC Audits with CAPATA: Your Comprehensive Guide In the dynamic landscape forged by the COVID-19 pandemic, the Employee Retention Credit (ERC) emerged as a financial haven for businesses navigating tumultuous waters. Crafted within the framework of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, this refundable tax credit emerged as a lifeline, empowering businesses to fortify their workforce in the face of economic uncertainty. Designed to aid entities … Read more