Category Archives: Business


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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14

Jan 2014

Don’t Forget!

4th Quarter Estimated Tax payments are due January 15th! If you haven’t made your payment yet, please send it certified receipt no later than Wednesday to avoid penalties.


The Search for Great Rewards- 7 Credit Cards You Should Know About

10

Jan 2014

The Search for Great Rewards- 7 Credit Cards You Should Know About

We went on a hunt to find credit cards with the best rewards programs for you. Through the help of some online articles, we uncovered the top picks and perks to benefit your wallet. All of the cards listed have a low interest rate or APR and no annual fee. Whether you’re looking to make a big purchase in the near future, or just add…

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January 2014 Tax Deadlines

09

Jan 2014

January 2014 Tax Deadlines

  Even though the IRS will start accepting tax returns starting January 31, 2014, there are still some major tax deadlines for January.   January 15 – Fourth quarter estimated tax payments are due.   January 31 – All employers must distribute W-2s and 1099s to employees and independent contractors.   January 31 – Payroll Returns: Form 941 (Fourth Quarter Payroll Tax) and Form 940…

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31

Dec 2013

Paragon January Business Newsletter

Built-in Gains Tax Tax relief extended for 2013 When a C corporation converts to an S corporation, it is subject to an extra set of tax rules. Although the conversion itself is not a taxable event, assets held at the time of conversion when sold during a certain time frame are subject to an extra tax. This time frame is called the recognition period, and…

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