Dear Business Owners, I know COVID-19 emails and information is everywhere, but I wanted to communicate what I believe will be key to surviving these uncertain times. You are all entrepreneurs and I know you have what it…
On March 18, 2020, the President signed the Families First Coronavirus Response Act (H.R. 6201) to provide immediate relief to individuals and employers. Below is a summary of the key employer-paid sick leave and employer-paid family leave benefits,…
“All taxpayers and businesses will have this additional time to file and make payments without interest or penalties,” Treasury Secretary Steven Mnuchin said.
IRS is now joining CA with postponing 2020 Q1 estimate due 4/15 to be paid 7/15. Quick Summary of all IRS and CA Updates: • Need to file an extension to avoid late filing penalty. • No late…
Dear Client: I hope you and your family are well as we all take the precautionary steps to limit this virus impact. I know you already know to wash your hands, so I will provide you with a…
In the 2018 court case, South Dakota v. Wayfair, the Supreme Court ruled that states can mandate businesses that have “nexus” in a state to collect and remit sales taxes on transactions to customers in that state. Prior…
There is a new California government retirement plan called CalSavers. CalSavers have been sending out attention grabber emails from what appears to be email addresses obtained through the California Employment Development Department. The idea of the program is…
Tax Planning…sounds so broad and formal. What is tax planning? To me, it’s time set aside to think about your current year tax situation and next year(s) tax situation and ponder if there is a better way to…
A gift tax, as defined by the Internal Revenue Service (IRS), “is a tax on the transfer of property by one individual to another while receiving nothing, or less than full value, in return. The tax applies whether…
The GOOD news is that AMT is changing, new tax rules apply to 2018 through 2025….see below The Alternative Minimum Tax (AMT) was enacted by Congress in 1969 to prevent a small number of wealthy taxpayers from avoiding…
