COLLEGE TAX CREDITS FOR 2015

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IT’S BACK-TO-SCHOOL TIME AND THE IRS WANTS TO REMIND FAMILIES OF THE COLLEGE TAX CREDITS AVAILABLE Here are two major education tax breaks, an explanation of who qualifies for each, and how to figure out which will save you the most money. The American Opportunity Tax Credit The AOTC is … [Read more...]

Looking through Auditor and Lender’s glasses

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THE STORY A BALANCE SHEET TELLS:LOOKING THROUGH AUDITOR AND LENDER’S GLASSES Lenders and Auditors pay attention to the Business Balance Sheet. The Balance Sheet tells the story of your business from the beginning to the current day. The Profit & Loss statement is where your tax liabilities … [Read more...]

CA PAID SICK LEAVE — EFFECTIVE JULY 1, 2015

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      CA Employers should take action to ensure compliance with new employment laws that take effect July 1, 2015. California has a new Paid Sick Leave law (AB 1522) that goes into effect on July 1, 2015. While the law itself was enacted on January 1, 2015, the … [Read more...]

HEALTH CARE LAW AND TAX PENALTY

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WILL THE HEALTH CARE TAX PENALTY AFFECT YOU?  The Affordable Care Act (also known as Obamacare) is causing changes to 2014 taxes. This is the first year filers are required to tell the government if they have health insurance (through an employer, one of the exchanges, or purchased privately) and … [Read more...]

RICH LIKE A ROCK STAR

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FINANCIAL RUIN ROCK STAR STYLE You may not make millions of dollars in your lifetime, but you certainly can learn a few financial lessons from these once-rich, now not-so-rich Rock Stars. HOW TO BE RICH LIKE A ROCK STAR: Say Yes To Everyone Generosity, though well intentioned, can cost … [Read more...]

IRS AUDIT

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IRS AUDIT SEASON – ARE YOU PREPARED? There are many different types of seasons. For accountants, after tax season comes IRS Audit season. Auditors will review every type of taxpayer from Individual to Business. Historically, the IRS has selected a higher percentage of sole proprietor – schedule C … [Read more...]

How to Make Money

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2014 Tax Planning - Goal Setting How to Make Money Four basic steps can help you produce income with your Product or Service. 1)      Monetize your idea – Bring it to the market place where you can make cash by selling it to customers.  Prepare the idea (either product or service) for sales. … [Read more...]

CORPORATE TAX DEADLINE MARCH 15, 2014

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The DEADLINE to file CORPORATE TAX RETURNS (forms 1120, 1120A, and 1120S) is THRUSDAY MARCH 15th.                      Provide us with the following information to complete your tax return:                                                 __ Copy of your prior year Income Tax Returns              … [Read more...]

New IRS Rules for Rental Property Owners – Avoid the 3.8 Percent Obamacare Tax

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           Rental Property Owners can Avoid the 3.8 Percent Obamacare Tax An achievement of the Obama administration has been the 2010 Affordable Care Act, a.k.a. Obamacare. Part of the law is a 3.8%    investment income surtax that will be applied to “high-income” earners beginning in 2013. … [Read more...]

TAX PLANNING & YEAR END REVIEW

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With a YEAR END TAX PLANNING AND ACCOUNTING REVIEW we can project this year’s Income Tax Results allowing enough time to make positive and meaningful adjustments before year end results are reported. We can suggest and help implement a variety of TAX SAVING techniques for your benefit. We work with … [Read more...]