Welcome to Eric M Hunt, CPA
Filing your California state tax return online sounds simple – until you actually sit down to do it. You open a portal, see multiple forms, different numbers than your federal return, and suddenly, you are second-guessing everything. Most people do not struggle because filing is hard – they struggle because they do not know the […]
Internal Revenue Code Section 199A provides a potent mechanism for reducing the effective tax rate applied to ordinary income generated by pass-through entities. The statutorily defined Qualified Business Income (QBI) deduction allows eligible non-corporate taxpayers to deduct up to twenty percent of their qualified business income, effectively shielding a fifth of business profits from top-tier […]
The One Big Beautiful Bill Act (OBBBA) has upheld significant changes to meal and entertainment deductions that will take effect on January 1, 2026. If your business regularly provides in-office meals, breakroom snacks, or operates an employee cafeteria, you must adjust your tax planning and accounting procedures before the end of the current year. Below […]
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 […]
