Getting Ready for 2020 taxes

Check tax withholdings now to avoid large payments with your next tax return To avoid a surprise when filing next year, now is the time to review your tax withholdings and payments. An adjustment or two made now may boost take home pay or allow taxpayers to pay more in the last quarter of … [Read more...]

INDIVIDUAL EXTENSION DUE DATE 10.15.20

FREEMAN & ASSOCIATES  would like to thank you very much for allowing us the opportunity to prepare your  Personal tax returns. This pandemic has tossed in some changes to the way we are working. We are fortunate to be set up working remotely. … [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...]

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...]

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...]

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

           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...]