The purpose of this Quarterly California Tax Legislative Update is to provide our clients and prospective clients with timely and meaningful updates that affect both their personal income and business taxes.The 3rd quarter of 2014 saw an expansion of the California film and television tax credit as well as additional guidance on the application process for the new Cal [...]

The California Film and Television Job Retention and Promotion Act was signed into law by Governor Jerry Brown on Sept. 18, 2014. The new law significantly increases the amount of film and television tax credits and eligibility to participate in the film and television tax credit program.This tax alert contains information on the following:What is California’s new fil [...]

Over the past two years, a number of high profiled transactions involved U.S. domiciled multi-national companies acquiring a foreign-based company resulting in the U.S.-based acquirer changing its domicile to the country of the foreign company that it had acquired. This is broadly referred to as an "inversion" transaction, which is the latest scrimmage in the corporat [...]

The State of California recently announced three application periods for the California Competes Credit program for fiscal year 2014/2015. The State has allocated over $150 million to the program for fiscal year 2014/2015. This tax alert contains information on the following: What is the California Competes Credit? When are the remaining ap [...]

Legislation to protect unpaid interns and volunteers from sexual harassment and discrimination in the workplace was signed by Gov. Jerry Brown last week, on Sept. 9, 2014. The bill, AB 1443, expands current protections against sexual harassment and discrimination for employees to unpaid interns and volunteers. The types of discrimination covered in the bill include ra [...]

Last week I blogged about the new FAQs related to understanding and applying the new Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards, otherwise known as the Supercircular. The AICPA’s Governmental Audit Quality Center (GAQC) has scheduled an event open to non-GAQC members that may be of interest to you as a recipient of f [...]

On Friday, August 29, 2014, the Council on Financial Assistance Reform (COFAR) released the second set of FAQs related to understanding and applying the new Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards, otherwise known as the Supercircular. Over two hundred questions and comments have been received from grantors, grant [...]

Having a strategic plan is essential to ensure a nonprofit’s vision and mission are fulfilled. Not every plan is a strategic plan though, and too often strategic plans collect dust on a shelf, rather than being a living and breathing document. TCC Group’s "Ten Keys to Successful Strategic Planning for Nonprofit and Foundation Leaders" is a great resource for Board’s a [...]