The Qualified Principal Residence Debt Exclusion – It’s Important
These trying times have had many homeowners searching for ways to reduce taxes. Here is a significant one, ...
California Governor Signs SB 9 & SB 10 Into Law
California Governor Gavin Newsom, fresh off his recall election victory, signed SB 9 and SB 10 into law last week. ...
How a CPA Helps E-Commerce Businesses
Starting your own business is always a tricky financial venture. There are so many small fees and rules that you need to keep in mind! ...
Child Tax Credit 2021
With the passing of the American Rescue Plan, American families will be able to collect more money through the Child Tax Credit. ...
Tax Savings with COVID: Business Meals Are 100% Deductible in 2021 and 2022
In the last month of 2020, Congress passed a bill called the Consolidated Appropriations Act that included several new relief packages for the COVID-19 pandemic. As of December 31st 2020, all business meals from restaurants are 100% deductible through December 31st, 2022, as opposed to...
The Secure Act, Tax Planning for End of Year and the Year Ahead: Part Two
As the second post of the blog series on year-end tax planning, we are focusing on the SECURE Act of 2020 and how you can best plan with your personal CPA using the information provided....
The Cares Act, Tax Planning for End of Year and the Year Ahead: Part One
In Part One of this two-part blog series, we focus on the CARES Act of 2020 and what that might mean for your year-end review and tax planning efforts....
Get Your Books Caught Up for 2020 with These Tips
As a small business owner, your passions and interests lie with the work you’re doing and offering to the world. Chances are, they don’t involve doing your bookkeeping and accounting....
Why Was I Sent a Letter from the IRS About a Missing Tax Payment?
It’s been just over one month from the extended July 15th2020 tax deadline and it seems the next wave of tax-related stress is among us. Recently, the IRS sent letters to many Americans stating that they owe money on taxes, even though they already paid...
How to File for a Tax Extension if You Can’t File on Time
With the 2020 tax deadline approaching (July 15th is almost here!), you may be stressed with the realization that you are not able to file on time. If that’s the case, don’t worry; the IRS allows filing extensions for individuals and business owners. However, the...