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Cook CPA Group

Is Bitcoin Taxed as Income or Property in California?

Bitcoin (BTC) is a type of “cryptocurrency,” also known as “virtual currency” or “digital currency.” While many types of cryptocurrency have been introduced in recent years, such as Litecoin (LTC) and Ethereum (ETH), Bitcoin has risen to prominence over its...

Understanding Your Tax Bracket Rates in California

In December 2017, Congress passed a major tax reform law called the Tax Cuts and Jobs Act (TCJA), which made some of the most dramatic changes to the tax code that the nation has seen in decades. One of the biggest and most important changes made by the TCJA was the...

What to Look for in an Accounting Services Agreement in California

Maybe you need to hire an accountant because you’re thinking of opening your own business for the very first time, and you need to know how to prepare financially. Maybe you need an accountant because you’re planning on moving to California with your family, and you...

2018 Small Business Tax Changes Under the Tax Cuts and Jobs Act (TCJA)

In December 2017, Congress passed a major tax reform bill known as the Tax Cuts and Jobs Act, or TCJA. The new tax law makes many changes to the tax code, some of which impact individual taxpayers, while others primarily affect businesses. If you currently own a small...

What Employee Benefits Are Tax Deductible Under the TCJA?

Various tax breaks are available for businesses that provide certain benefits to their employees, such as meals and moving expense reimbursements. However, many of these employee benefit tax deductions and credits have been changed – and in some cases, totally...