Let’s not get too far into the year without reviewing your compliance with California’s newest pay data reporting and pay transparency requirements. Starting January 1, 2023: All California employers will have to provide the salary range…
INDIVIDUAL DUE DATES: February 3 - Tax Appointment If you don’t already have an appointment scheduled with this office, you should call to make an appointment that is convenient for you. February 10 - Report Tips…
Especially in the early days of a business, it can be natural to want to handle as many day-to-day tasks yourself - bookkeeping included. Sometimes, it's in an effort to save money. Often, entrepreneurs just feel…
The President, on December 29, 2022, signed the Consolidated Appropriations Act, 2023, which is the “omnibus spending bill” Congress needed to pass to avoid a government shutdown. That legislation also included the Setting Every Community Up…
Although the credit for purchasing a new electric vehicle can still be as much as $7,500, Congress has added some new stringent qualifications as to which vehicles qualify, and for the first time Congress has limited…
Some Relief in the Weather? While extreme storms in California usually only bring flooding, mudslides and evacuations, occasionally they bring some relief too. Tax relief. California residents currently being affected by the storms are being given…
January 2023 Individual Due Dates January 3 - Time to Call For Your Tax Appointment - January is the beginning of tax season. If you have not made an appointment to have your taxes prepared, we…
This is our annual reminder that if you use workers other than employees to perform services for your business and pay them $600 or more for the year, you are required to issue each one a…
When it comes to transactions between family members, the tax laws are frequently overlooked, if not outright trampled upon. The following are some commonly encountered situations and the tax ramifications associated with each. Renting to a…
With the holiday celebrations coming to an end, now is the time to take a look at the changes that will impact your 2023 tax return when you file it in 2024. Keeping up with the…
INDIVIDUAL DUE DATES December 1 - Time for Year-End Tax Planning December is the month to take final actions that can affect your tax result for 2022. Taxpayers with substantial increases or decreases in income, changes…
It's been a rough Fall for the stock market. So much so that you should probably carefully review your portfolio and other capital transactions to minimize gain or maximize losses for the year. Remember, capital gains…
The holiday season is customarily a time of giving gifts, whether to your favorite charity, family members or others. Some gifts even provide a variety of tax benefits. But be wary; during the holiday season, you…
Year-end is rapidly approaching as are the holidays. So before you become distracted with the seasonal celebrations, it may be in your best interest to consider year-end tax moves that can benefit you for both 2022…
INDIVIDUAL DUE DATES: November 10 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during October, you are required to report them to your…
Every entrepreneur starts their company with their own vision of what the future holds. Maybe you thought you’d just work from a home office, managing every function and loving every minute of it. Maybe you always…
The Inflation Reduction Act that President Biden signed into law back in August, has a lesser-known provision that could benefit many small business startups, allowing them to potentially double the amount of the research and development…
If your traditional IRA is invested in stocks and/or mutual funds, the recent substantial downward slide by the stock markets may provide a unique opportunity to convert your traditional IRA to a Roth IRA at a…
If you could not complete your 2021 tax return by April 18, 2022 and are now on extension, that extension expires on October 17, 2022. Failure to file before the extension period runs out can subject…
With the recent passage of the Inflation Reduction Act of 2022, the electric vehicle credit has undergone some major changes. Although most of the changes take effect in 2023, to qualify for the current credit, vehicles…