Resources | Sisto CPA Group, Inc.

California SB 113 Simplifies Tax Write Off to Pass-through Entities

By: sistoadmin | February 21, 2022

California just enacted Senate Bill 113 (SB 113), which made California’s new passthrough entity elective tax much more attractive for certain owners of S corporations, partnerships, and LLCs taxed as a partnership or S corporation. Many of the limitations and drawbacks to paying this tax were just recently removed by SB 113. Now, this passthrough … Continue reading California SB 113 Simplifies Tax Write Off to Pass-through Entities

Investment Philosophy

Markets Again Overcome Pandemic Uncertainty to Hit New Highs

Stocks overcame numerous headwinds during the past three months, including a resurgence in COVID cases, the Federal Reserve moving aggressively to end the current QE program, and a lack of additional stimulus from Washington, to hit new all-time highs in the fourth quarter and produce very strong returns for 2021.

Tax & Compliance

IRS Account For Individuals (1040 Filers Only)

The IRS’s backlog since the start of the COVID-19 pandemic has been extraordinarily difficult for tax professionals to work with. To add some context, according to the IRS’s Taxpayer Advocate, as of May 2021, the IRS: Still had over 30 million returns requiring manual processing, which represents roughly 20% of all returns filed to that … Continue reading IRS Account For Individuals (1040 Filers Only)

Investment Philosophy

Strong Corporate Earnings and a Resilient Recovery Power Stocks to New Highs

The S&P 500 hit new all-time highs again in the third quarter as investors looked past a resurgence of COVID-19 cases in the U.S. and instead focused on the positive combination of a resilient economic recovery, ongoing historic support from the Federal Reserve, and strong corporate earnings.

Investment Philosophy

The Cost of Trying To Time the Market

The impact of missing just a few of the market’s best days can be profound, as this look at a hypothetical investment in the stocks that make up the S&P 500 Index shows. Staying invested and focused on the long term helps to ensure that you’re in position to capture what the market has to … Continue reading The Cost of Trying To Time the Market

Investment Philosophy

Stocks Hit New Highs as the Pandemic Recedes

The S&P 500 rose to another record high during the second quarter as a substantial decline in U.S. COVID-19 cases combined with a near-total economic reopening across the country led a surge in economic growth that helped stocks rally to new highs over the past three months. The S&P 500 had a strong start … Continue reading Stocks Hit New Highs as the Pandemic Recedes

Tax & Compliance

American Rescue Plan Act of 2021 / Income Tax Return Filing Deadlines

On March 11, 2021, President Biden signed the American Rescue Plan Act of 2021 (“the Act”). This latest round of stimulus legislation is a $1.9 trillion package intended to address the extraordinary impact of the coronavirus pandemic over the past year. The Act adds $7.25 billion in new funding for the Paycheck Protection Program (PPP). It also … Continue reading American Rescue Plan Act of 2021 / Income Tax Return Filing Deadlines

Tax & Compliance

IRS Clarifies Position on Deductibility of PPP Expenses…Ouch!

When the Paycheck Protection Program (PPP) was rolled out earlier this year, it was clear that using the PPP funds for their intended purpose would result in the forgiveness of the debt. It was also made clear that the forgiveness would not result in taxable income, as would normally be the case. It was not … Continue reading IRS Clarifies Position on Deductibility of PPP Expenses…Ouch!

Investment Philosophy

Stocks and Winning the White House

It’s natural for investors to seek a connection between who wins the White House and which way stocks will go. But a look at history underscores that the outcome of an election is only one of many inputs to the market.

Investment Philosophy

A Historic Market Recovery

2020 continues to be one of the most unpredictable years in memory, as markets rose to new all-time highs in the third quarter despite a resurgence in coronavirus cases, as stocks rallied thanks to a combination of even more accommodative Fed policy, hopes for a COVID-19 vaccine and a stronger-than-expected economic rebound, before markets declined … Continue reading A Historic Market Recovery