PPP Funds – How to Keep them Forgivable

Choosing to Keep the PPP Funds Forgivable In order to do so, you’ll need to begin tracking, and categorizing, every expense. A simple bank and credit card statement likely won’t be enough for your lender. In order to get your loan forgiven, you’ll need to not only spend the PPP funds on the … [Read more...]

REGULATIONS AND GOVERNMENT CHANGES PROMPTED BY COVID-19

Each day is a new day during this infectious period To Business Owners, The Federal Government is creating a variety of relief programs for business owners dealing with the Coronavirius and its effects on business.Some of these include Government subsidy programs for paying your employees … [Read more...]

Continuing to Work during the Covid-19 Crisis

CORVID-19 TAX OFFICE SAFETY - UPDATE 3/22/20 Our Office is Closed   TAX PREPARATION WILL CONTINUE ELECTRONICALLY Dear Clients, Due to the California Statewide Stay at Home Order, our office is currently Closed until further notice. • IRS & FTB Moved Tax Deadlines for … [Read more...]

COVID-19 and TAX SEASON SAFETY

We are closely following the news to ensure that everyone is doing their utmost to contain the spread of the coronavirus. We would like to inform our clientele the following: Dear Clients, In light of the COVID-19 outbreak, we wanted to inform you that we will be adhering strictly to all … [Read more...]

Corporation, LLC, Sole-Proprietor

SEPARATING YOUR BUSINESS AND PERSONAL FINANCES The first set of steps for any business entity should be to create clear separation between your business and your personal finances.   My  experience as a CPA representing clients on IRS audits for over 30 years has shown me time and … [Read more...]

TAX ORGANIZER FOR CORPORATIONS, LLC

TAX ORGANIZER FOR CORPORATIONS AND LIMITED LIABILITY COMPANIES We have a list of items that will assist you in identifying and collecting the information necessary for us to properly prepare your business and investment Income Tax returns. For Business Tax Preparation, please gather the … [Read more...]

INDIVIDUAL TAX RETURN CHECKLIST

INDIVIDUAL TAX RETURN CHECKLIST We have a list of items that will assist you in identifying and collecting the information necessary to properly prepare your Income Tax returns. For your Personal Tax return, Please gather the following if they apply to you: __W-2 statements from … [Read more...]

THE EVER INCREASING 1099 PENALTY

The IRS is issuing large penalties for not submitting the Form 1099 Misc. The federal government has determined one of the best ways to decrease the underground economy is to increase the income reporting through the Form 1099 Misc income reporting system. Companies are experiencing … [Read more...]

TAX CUTS & JOB ACTS – 2018 TAX YEAR REVIEWED

TAX CUTS AND JOBS ACT OF 2017 – 2018 TAX YEAR REVIEWED   As we prepared tax returns for 2018, we noticed a few different pros and cons based on the enactment of Tax Cuts And Jobs Act of 2017. The following will be highlights of a couple of the groups who had that surprised look on their … [Read more...]

The New 2018 Tax Law at a Glance

Residents in states such as California and New York are likely to be more affected by some of the cut deductions. Special Thank you to realtor Fred Orsinger, Keller Williams Realty, for sharing this flyer with us. For personal realty assistance, contact Fred at itsrealtorfred@gmail.com. Steven … [Read more...]