News


ITINs: A Chance to Participate in the U.S. Tax System

24

Oct 2016

ITINs: A Chance to Participate in the U.S. Tax System

The influx of foreign nationals, non-resident foreign nationals, and immigrants into the United States each year is a demographic phenomenon that has been at the centerpiece of our political and economic discourse for an overwhelmingly large part of our history as a nation. There are a myriad of reasons foreign individuals come to the United States, but for most, the appeal is undeniably the economic…

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Are Retail Sales Helping or Hurting Your Business?

24

Aug 2016

Are Retail Sales Helping or Hurting Your Business?

Retail sales have been losing steam in recent months as Americans cut back on their retail spending, showing a growing moderation in consumption. More data indicated the biggest drop in producer prices recorded in almost a year, amongst decreasing costs for energy goods and services. With consumer spending decreasing and inflation stable, The Federal Reserve will probably keep interest rates where they’re at. July’s retail…

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How To Know If You Owe Gift Tax

07

Jul 2016

How To Know If You Owe Gift Tax

Are you a generous person? If you’re someone who loves the act of gift giving, you may have heard of the gift tax. The federal gift tax applies to those who have given large gifts or sums of money to friends or relatives. Here’s how to find out if you’re one of the lucky few that has to pay gift tax. The first thing to…

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Top 10 Red Flags That Trigger An Audit

04

Mar 2016

Top 10 Red Flags That Trigger An Audit

Let’s face it, none of us ever want to hear the words “IRS audit”. The good news is that the odds of being audited by the IRS are at the lowest levels in at least a decade. In fact, the probability of being audited for a median household income in the US dropped to less than 1% in 2014 versus 5.6% in 1993. The IRS…

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Do You Know The Difference Between An Employee And An Independent Contractor?

25

Feb 2016

Do You Know The Difference Between An Employee And An Independent Contractor?

It can get a little tricky sometimes in determining whether someone you consistently hire to perform services for your business is an employee or an independent contractor; not to mention keeping track of the difference in tax treatment between the two. Have no fear, Paragon is here to break it down for you! Employees are defined by the IRS as “anyone who performs services for…

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Everything You Need To Know About Foreign Investors

11

Feb 2016

Everything You Need To Know About Foreign Investors

Typically, a foreign investor, in the eyes of the IRS, includes both nonresident aliens and foreign corporations looking to promote capital formation, employment, and productivity in an environment that is both economically and politically robust. A foreign investor can establish a branch in the United States pretty easily, as long as they obtain a license to do so. They must comply with the applicable state…

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2016 Tax Season is Almost Here!

08

Jan 2016

2016 Tax Season is Almost Here!

  Happy New Year! Paragon Accountants would like to announce that the 2016 tax season is almost here. The IRS will begin accepting both paper and electronic returns on Tuesday, January 19th. This year the deadline to submit your 2015 tax return is Monday, April 18th. Before you rush to file your taxes, please make sure you have all your tax paperwork ready, such as…

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Make the Most of Your Business Vehicle

04

Nov 2015

Make the Most of Your Business Vehicle

Do you use a vehicle to assist in running your business or are you thinking about doing so? There are many facts to consider when it comes to maximizing your tax credit. Read on to learn how you can make the most of your business vehicle! Will you be leasing or purchasing your vehicle? The biggest difference between leasing and purchasing your business vehicle is…

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Use Tax: What Is It and What Do You Need to Know?

09

Sep 2015

Use Tax: What Is It and What Do You Need to Know?

The Board of Equalization has begun auditing California businesses on use tax. If you haven’t received a letter requesting you to complete, file, and provide supporting purchasing documentation for all business expenses- it’s not long until you do. Use tax is what you are required to pay if you make a purchase from an out-of-state business without being charged the California use tax. This is…

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