Category Archives: Business


Everything You Need to Know About Foreign Contractors

28

Jan 2015

Everything You Need to Know About Foreign Contractors

Have you ever used a contractor from outside of the United States? Do you know what tax forms are required for using foreign work services? You may think that all independent contractors require a 1099 form, but if the services are performed outside of the US by a non-US citizen, you don’t have to use a 1099. Here are two sure-fire ways to confirm that…

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Not All Audits Are The Same

18

Jan 2015

Not All Audits Are The Same

Not all audits are the same! If you’ve ever received a dreaded letter from the IRS, we can help. It is in your best interest to keep your tax returns and supporting documents, as audits normally can go back up to three years (in some cases indefinitely) and can be performed at any time. The most common audit is a correspondence audit, basically a letter…

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Get Prepped For Tax Season

11

Jan 2015

Get Prepped For Tax Season

The IRS recently announced that the 2015 tax season will open as planned this month. While many were fearful that the extended provisions would delay the start of filing, the provisions were renewed by Congress at the end of the year, pushing the final preparations for tax season forward.  You will be able to file your tax return as early as January 20th; both electronic…

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Simple Ways To Protect Your Bank Account

03

Dec 2014

Simple Ways To Protect Your Bank Account

Fraudulent activity affects many people worldwide. Luckily, there are a few simple things you can do on your own to protect yourself from trouble and avoid losses. Stay On Top of Things: Check your balances and statements regularly to ensure that you’ll catch an act of fraud quickly if it does occur. One problem that can come up for those who aren’t on top of…

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Online Shopping and Sales Tax

30

Sep 2014

Online Shopping and Sales Tax

At Paragon Accountants, we often get asked questions regarding sales tax with buying and selling goods, especially online. We’ve answered some of the most common concerns here to help keep you sales tax savvy. When is sales tax applicable? In California, retail sales and “tangible personal property” (furniture, tools, vehicles, etc.) are subject to sales tax. California residents are taxed on all income, within and…

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7 Internal Controls to Eliminate Fraud Within Your Company

10

Jul 2014

7 Internal Controls to Eliminate Fraud Within Your Company

Every year, companies are looking for ways to improve their bottom line… However, most don’t realize that the biggest problem at hand, might be right under their noses. According to the Association of Certified Fraud Examiners, most businesses lose around 6% of revenue per year due to employee theft alone. The following tips are designed to help managers avoid fraud within their company…   1…

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First Quarter Estimated Tax Payments Are Due April 15th !!

08

Apr 2014

First Quarter Estimated Tax Payments Are Due April 15th !!

  Estimated taxes are paid in quarterly installments (every three months) on income that is not subject to withholding, for example: interest, dividends, gains from stock, earnings from a business, and alimony. Federal and state law requires: -trusts -estates -non-wage employees -corporations -wage employees who are not subject to tax withholding to submit quarterly payments of estimated taxes. Self-employment and income tax are paid by…

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Are You Covered?

19

Feb 2014

Are You Covered?

  The deadline is approaching! All Californians must have health coverage by March 31st at the very latest to avoid a tax penalty. For coverage starting April 1, you need to sign up no later than March 15 and pay your first premium by March 26. If you sign up after March 15 and before March 31, your coverage will start May 1 (first premium…

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What To Avoid When Filing Your Tax Return

10

Feb 2014

What To Avoid When Filing Your Tax Return

With the tax season upon us, Kiplinger recently shared a list of 14 Audit Red Flags to help you avoid a visit from the IRS. We selected the most relevant for our clients here… 1.       Mucho $$$: The odds of getting audited are pretty slim for the average tax payer, but your chances increase heavily with greater income. Those making more than $200,000 have about…

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A Decade of Paragon

19

Jan 2014

A Decade of Paragon

In addition to all things new for Paragon, we also have a website designed with you in mind, keeping our focus accessible and efficient. Rebrand – If you haven’t noticed by now, we’ve made some changes to the Paragon image to simplify and streamline our company essence. Location – Come visit us at our spacious new office in Bankers Hill! 2121 5th Avenue Suite 207…

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