Welcome to Eric M Hunt, CPA
If you run a corporation, you already know that tax planning rarely involves a one-size-fits-all approach. But in 2026, the disconnect between federal and state tax laws is particularly stark when it comes to Net Operating Losses (NOLs). If your business took a financial hit recently, you are likely looking to your accumulated NOLs to […]
Contributing to a Roth IRA is a fantastic way to build tax-free wealth, but there is a major catch: you must have eligible earned income to participate. If you found yourself unemployed but still funded your Roth IRA from your savings or unemployment benefits, you have a compliance issue on your hands. Under the strict […]
Filing taxes on time is very important and also saves you from penalties. Here in this blog, we will talk about the California tax filing deadlines and extensions, which are important for every taxpayer. Whether you are an individual, freelancer, or business owner, if you know about the important tax dates, then you can take […]
The capitalization, tracking, and subsequent depreciation of tangible assets represent critical elements of corporate tax strategy, particularly within the entertainment and media production sectors, where immense capital is routinely deployed for specialized equipment, post-production infrastructure, and structural set design. The recent enactment of the Working Families Tax Cut Act delivers definitive long-term certainty to these […]
Filing California state taxes can be more complicated than many taxpayers expect. With its progressive tax system, strict compliance rules, and differences from federal tax laws, even small mistakes can lead to penalties, delays, or missed savings opportunities. Whether you are an individual taxpayer, freelancer, or business owner, understanding the common mistakes people make when […]
The enactment of the Working Families Tax Cut Act has fundamentally altered the landscape of itemized deductions by elevating the federal State and Local Tax (SALT) deduction cap from $10,000 to $40,000 for the 2025 through 2029 tax periods. However, the application of this expanded cap is not absolute and contains inherent traps for unwary […]
In this blog, you will understand how California state taxes work compared to federal taxes. It is important for individuals, freelancers, and business owners who want to manage their finances effectively and save money. We know that both of these tax systems are built to collect revenue, but they are very different from each other […]
A prominent professional actress recently incurred approximately [$20,000.00] for haute couture, evening gowns, and related formal apparel. These garments were purchased exclusively for mandated promotional appearances, press junkets, and red-carpet events during the 2026 awards season, including the SAG Awards, BAFTA, Golden Globes, and the Oscars. Her appearances directly supported the marketing and promotional obligations […]
If you live, work, or do business in California, the California State Income Tax Guide for 2026 is a must-have. California has one of the most progressive and complex tax systems in the United States. So it is very hard for everyone to understand all the tax rules and regulations. That is why we have […]
Success in the entertainment industry can lead to sudden, significant income. Actors, musicians, producers, directors, and other creative professionals often experience years where earnings increase quickly due to major projects, licensing deals, or royalties. While this financial success is exciting, it also brings important responsibilities, including estate planning. Estate planning is not only for retirement […]
