Failing to file or pay your taxes on time can result in costly penalties and interest from the IRS—costs that can quickly snowball if left unaddressed. Whether you’re a business owner or […]
Each tax season, one question always comes up from business owners: “Do I need to file a 1099 for this vendor?” Even seasoned entrepreneurs find the rules confusing. If you’ve ever been […]
Think your out-of-pocket health expenses are fully tax-deductible? Not so fast! Myth: Every dollar I spend on health insurance reduces my taxes.Reality: You only get a deduction if you itemize and your […]
Ever wondered what it really means to move into a higher tax bracket in California? Let’s break it down—because understanding how the state’s tax system works can help you make smarter financial […]
If you’re juggling multiple side gigs—whether it’s freelancing, rideshare driving, or selling products online—accurately reporting your self-employed income is essential. Let’s break it down step by step so you’re prepared come tax […]
When it comes to taxes, there’s nothing worse than being caught off guard by a penalty. One of the most common—and costly—issues taxpayers face is underestimated estimated tax penalties. In 2023, these […]
In response to the devastating wildfires that have swept through Los Angeles County, California is offering tax relief measures to affected residents and businesses. Governor Gavin Newsom announced that the California Franchise […]
California business owners, you’re going to want to pay attention to this important update. Starting January 1, 2025 businesses one or more employees “must participate in CalSavers if they do not already […]
The IRS is taking steps to help taxpayers by sending automatic payments to individuals who missed claiming the Recovery Rebate Credit on their 2021 tax returns. Here’s what you need to know: […]
For U.S. citizens living abroad or earning income from foreign sources, you still have to meet your tax obligations back home. The U.S. tax system taxes worldwide income, which means income earned […]
The Mega Backdoor Roth IRA stands out as a powerful strategy for high-income earners looking to supercharge their tax-advantaged savings. While the traditional Roth IRA and 401(k) plans offer valuable benefits, the […]
Planning a renovation project? Let’s talk about some tax-saving tips that could make your home improvements even more rewarding. Today, we’ll explore both Federal and California-specific incentives that could save you money […]
