2018 TAX CHANGES

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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...]

PROPERTY TAX – PAY NOW OR LATER

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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...]

2017 Tax Saving Tips

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Year End Tax Saving Tips As the year comes to a close, there are several tax saving strategies that could possibly help save you money when you prepare your tax return. Please note that these tax saving strategies will not apply to everyone and there are many other options not listed in this … [Read more...]

FREE INFORMATIONAL SERIES

I'll be speaking for the Moving Seniors Forward informational series presentation on Thursday evening October 19th 6pm at the Janss Marketplace in Thousand Oaks. Come join me to hear this great information and enjoy the food and entertainment. Let me know if you can come! Hope to see you there! … [Read more...]

Organizing Your Tax Documents

GETTING YOUR TAX DOCUMENTS READY   You can make Tax Time easier with an early start. Maximize your deductions with planning and organization. By gathering your records as they arrive, you can make this a simple process allowing you to prepare your returns and receive your refunds … [Read more...]

MOST SHOCKING TAX RESULTS

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MY CLIENTS’ TEN MOST SHOCKING TAXABLE EVENTS Covered California Healthcare The IRS reconciles your Health Insurance Premium based on Income measurements.  If your Income has increased, you may end up paying the Government back their subsidy.  Avoid this by using techniques to keep your … [Read more...]

MARGINAL and EFFECTIVE TAX RATES

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UNDERSTANDING THE US PROGRESSIVE INCOME TAX SYSTEM Misunderstandings about two different types of tax rates often create confusion in discussions about taxes. A taxpayer’s average tax rate (or effective tax rate) is the share of income that he or she pays in taxes. By contrast, a taxpayer’s … [Read more...]

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...]

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...]

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...]