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- The Delay is Over – Let’s Get Back To Tax Business!Hello Clients and Friends Thank you for your patience while I worked through the latest tax changes. Here’s an update for you: Both the IRS and CA Franchise Tax Board have extended the tax deadline to May 17th. If you OWE taxes, you now have until May 17th to pay them. I am now able […]
- IRS strongly urges taxpayers not to file amended returns related to the new legislative provisionsThe IRS strongly urges taxpayers not to file amended returns related to the new legislative provisions or take other unnecessary steps at this time. The IRS will provide taxpayers with additional guidance on those provisions that could affect their 2020 tax return, including the retroactive provision that makes the first $10,200 of 2020 unemployment benefits […]
- The American Rescue Plan Means More $$$ for Most TaxpayersIf you have been following the news, you know the new COVID relief plan should be signed by President Biden today. It’s called The American Rescue Plan. This plan not only includes another $1400 in stimulus payments for tax payers and their dependents, but it also includes other tax benefits for certain individuals applicable for […]
- How Does Being a S-Corp Save You Taxes?In short, when the business income is high enough – which 40,000 net or higher, an S-Corp could save the owner thousands in self-employment taxes