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...]

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...]

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...]

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...]

2017 Tax Saving Tips

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

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

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...]