Business Filing Deadline Reminder – March 17th, 2025
Today is the Business Tax Filing Deadline for S-Corps and Partnerships! If you haven’t filed yet, make sure to file an extension today. Late Filing Penalty • $245 per owner per month. […]
Avoiding IRS Underestimated Estimated Tax Penalties
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 […]
IRS Announces the Start of Tax Season
The IRS has officially announced the start date for the 2025 tax season! Mark your calendars and get ready because you can begin filing your tax returns starting January 27, 2025. This […]
Statement: Prayers for Victims of CA Wild Fires
As a Southern California business we are sending prayers and thoughts to our Southern California community and everyone experiencing the devastation of the wildfires. We are grateful to the brave and selfless […]
California Is Offering Tax Relief For Wild Fire Victims
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 […]
CalSavers Updates You Should Know About
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 […]
IRS to Send Automatic Payments to Eligible Taxpayers Who Missed Recovery Rebate Credit
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: […]
Year-end tax planning – things you need to do before the year ends so you can reduce your tax liability.
As the end of 2024 approaches, it’s time for you to think about strategic tax planning. Don’t wait until tax season to optimize your deductions; many valuable moves need to be completed […]
Recourse vs. Nonrecourse Debt: What it Means for Your Taxes in a Partnership or LLC
When you’re part of a partnership or LLC, how your debt is classified—recourse or nonrecourse—can affect your taxes in big ways. This guide will break it down so you can understand what […]
Foreign Income: When Is It Reportable on Your U.S. Tax Return, and How Is It Taxed?
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 […]
How Investor Concerns Are Shaping the Economy and Banking in 2024
Today, we’re talking about something that’s on everyone’s mind—how the concerns of investors are shaping our economy and banking in 2024. If you’ve been keeping an eye on the markets or just […]
Tax Policy Questions 2024 Presidential Candidates Should Address and what they will most likely stand for and why?
What are some tax policy questions that the 2024 presidential candidates should address? For starters, child deductions. Will they increase or stay the same? We’ve seen recently that JD Vance, Republican candidate […]