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...]

IS GOFUNDME TAX FREE?

Is GoFundMe Tax Free? IRS requirements are often confusing, and crowdfunding tax treatment is no exception. GoFundMe, Kickstarter, and other personal fundraising websites have become extremely popular – their purpose being to assist in raising funds for different campaigns. You’ve probably … [Read more...]

AVOID TAX PENALTIES – FILE ON TIME

FILING ON TIME SAVES PENALTY FEES There are two reliable tactics to avoiding tax penalties: having a stable year-round accounting system and being on time.   Build a simple but structured  calendar for both your business and personal tax returns that can help you keep up with your … [Read more...]

Extra Time Granted to County Taxpayers

Additional time to file has been granted to all who live in the affected areas even if you weren't personally affected. All government filings (1099, W2, Individual & Business tax returns) are being excused without penalty until April 30, 2018. This includes 2017 individual income tax returns … [Read more...]

2018 TAX CHANGES

2018 IRS Standard Deductions and Exemptions Virtually all taxpayers are impacted by the changes in the tax reform legislation. Knowing about these changes now will help taxpayers plan and understand how the Tax Cuts and Jobs Act (TCJA) could impact their take-home pay and their 2018 tax refund. … [Read more...]

We Moved!!

Come check out our new location! Tax Season appointments begin February 1st   … [Read more...]

TAX DOCUMENTS – GETTING READY!!

We welcome you to our New Location starting FEBRUARY 1, 2018  1414 E. Thousand Oaks Blvd. #101, Thousand Oaks, CA 91362 New Address Only, Phones and Email remain the same PHONE (805) 495-4211     FAX (805) 374-6781   GETTING YOUR TAX DOCUMENTS READY   You can make Tax Time … [Read more...]

PROPERTY TAX – PAY NOW OR LATER

PROPERTY TAX PAYMENT – PAY NOW OR LATER? The standard deduction is jumping A LOT this year. Here are the standard deductions by tax filing status:   2018 Standard Deduction Married Filing Jointly/Surviving Spouse: $24,000 Heads of Households: $18,000 Single: $12,000 Married … [Read more...]