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IRS Confirms July 15 Tax Deadline

The Internal Revenue Service has confirmed that the federal income tax filing deadline is automatically extended from April 15, 2020 to July 15, 2020. Taxpayers can also defer federal income tax payments due April 15, 2020 to July 15, 2020 without interest or penalties, regardless of the amount owed. This deferment applies to all taxpayers,…

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Tax Filing Deadlines Postponed

FTB Deadlines The California Franchise Tax Board (FTB) is postponing the tax filing deadline to July 15, 2020.  This includes: 2019 tax returns 2019 tax return payments 2020 1st and 2nd quarter estimated payments 2020 LLC taxes and fees 2020 Non-wage withholding payments FTB is extending this relief to all California taxpayers, there is no…

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COVID-19 & Your Taxes

COVID-19 & Your Taxes

Preparations we’ve made to keep you and our staff safe during tax season and the coronavirus COVID-19 spread We sincerely hope that you and your family are healthy and happy and will not be directly impacted by the highly contagious coronavirus during this flu season. In our office, we have taken serious precautions to fight…

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AB

Does AB5 Affect Your Business?

As many have heard, on September 18, 2019, Governor Newsom signed AB5, effective January 1, 2020.  The new law codifies the “ABC test” from the California Supreme Court decision in Dynamex Operations West, Inc. v. Superior Court of Los Angeles, 4 Cal. 5th 903 (2018).  Under the ABC test, any person providing labor or services…

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Buttoning Up 2019

Are You Ready To Button Up 2019?

The difficulty of getting year-end business tasks done will depend on how organized you’ve been throughout the year. Whether you’re a DIY business owner and handling things yourself, or if you have a bookkeeper/accountant, there are some tasks you’ll need to get done to button up 2019. While the government requires much of the work,…

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Protect Yourself From Tax Scams

Protect Yourself From Tax Scams

There are many tax scams out there with the purpose of stealing your identity, stealing your money, or filing fraudulent tax returns using your private information. Tax scammers work year-round, not just during tax season and target virtually everyone. Stay alert to the ways that criminals pose as the IRS to trick you out of…

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Hire Your Kid, Save on Taxes

Hiring your child to work as a legitimate employee is a great tax strategy, which got even better with the Tax Cuts and Jobs Act. Starting in 2018, the standard deduction nearly doubled, from $6,350 to $12,000, meaning under the new law, your child can shelter almost twice the wage income without paying income taxes. …

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Virtual Accounting in Glendale

Virtual Accounting in Glendale Matters to Your Practice

The accounting of any business really can be the engine that keeps any successful, thriving company moving forward. If your finances aren’t handled efficiently, effectively, and promptly, there would be no company to speak about. You would not have the cash flow to pay for new equipment, new staff, upgrades to your facility, insurance, or…

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