What Happens if I Get Audited and Don’t Have Receipts?
You just received a Notice of Audit from the IRS, only to realize that you don’t have your receipts anymore. What do you do? In this post, we cover how to handle […]
Tax Advice
2022 Tax Calendar: Federal and California Deadlines
There are numerous due dates to remember during tax season and throughout the year. No one wants to miss a deadline, so we’ve compiled a 2022 tax filing calendar to make it […]
COVID Relief Funds: CA Taxes & Loan Forgiveness
If you received COVID relief funds such as a PPP loan, an EIDL grant, Restaurant Relief Fund payments, or a Shuttered Venue Operation Grant, you are likely wondering if the payments are […]
How to Avoid a Tax Audit & 6 IRS Audit Red Flags
At Paragon Accountants, we are frequently asked how to avoid an IRS audit. While no one can guarantee they won’t be audited by the IRS, it’s a valid concern as tax audits […]
Are Tax Refunds Delayed in 2022? Tips to Get Your Refund Faster
It’s tax time again. You’re probably wondering if tax refunds are delayed in 2022 and when you will receive your check or direct deposit from the IRS. And you likely haven’t forgotten last […]
SALT Cap Workaround FAQ: Everything You Need to Know
If you are a high-income earner with a pass-through business entity, the new SALT cap workaround associated with California’s AB 150 Small Business Relief Act may be useful to you this tax […]
2021 Tax Deadline Extension: What You Need To Know
Just this past Wednesday, March 17th, the due date to file your 2020 federal and California income tax returns filings was postponed to May 17th, from April 15th. This includes the filing […]
The New COVID-19 Relief Bill: What You Need To Know
A $900 billion COVID-19 relief bill was just passed by both the House and Senate on Monday, December 21st. Although the bill now has to be signed by President Donald Trump before […]
Carried Interest: How It’s Changing
The Tax Cuts and Jobs Act of 2017 included Section 1061 which stated that certain taxpayers that hold profits interests in partnerships must satisfy a three-year holding period to qualify for preferential […]
PPP Loan Forgiveness Rules
With the first round of funding completed and the second round underway, several businesses have received their Paycheck Protection Program loans from the SBA. This article will guide you through the rules […]
Meals & Entertainment Will Never Be the Same!
So are entertainment expenses really not deductible anymore? How about meals? The new tax reform has brought an endless amount of change to tax law, and one of the most interesting parts […]
BEWARE: The Government Won’t Call You
Unfortunately, it is a dangerous world that we live in. It seems as though there is a new hazard waiting around every corner that we turn. One such danger that is widespread […]