5 steps to protect your pocketbook and your peace of mind Tax time or anytime, certified public accountants (CPA) are a valuable resource for more than just tax preparation. It’s becoming more common for individuals to engage with a CPA for a variety of services, such as consulting, investing, or…
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Taxes
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Happy Tax Day. If one good thing could be said about 2020 (so far) it’s that you have had two chances to procrastinate on filing your taxes. That’s because in mid-March, the U.S. Treasury Department and the Internal Revenue extended the tax filing deadline for this year from April 15…
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On March 18, 2020, the Franchise Tax Board (FTB) announced that the state tax filing and payment deadlines have been postponed from April 15 to July 15 to bring some relief to taxpayers in light of the COVID-19 pandemic. https://www.ftb.ca.gov/about-ftb/newsroom/news-releases/2020-3-state-postpones-tax-deadlines-until-july-15-due-to-the-covid-19-pandemic.html On March 20, the U.S. Treasury Secretary Steve Mnuchin announced…
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The first tax season under the new Tax Cuts and Jobs Act is in full swing, and some filers have been surprised to see smaller than expected refunds. According to the IRS, the average refund as of February 8 is $1949, down $186 from the same time last year. The…
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More than 1.2 million Californians have claimed the California Earned Income Tax Credit (Cal EITC) in 2018—nearly tripling the number of claims from the previous year. The Cal EITC is available to qualified, low-income tax filers, who may be eligible for as much as $6,000—money that can be used to…
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Millions of working Californians are leaving money on the table at tax time. One of the most effective tools for lifting families out of poverty, the California Earned Income Tax Credit (CalEITC) put nearly $200 million directly into the hands of 400,000 working Californians last year. Qualified tax filers are…
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The official tax season began yesterday, and along with it open season on you—it’s time for tax scammers to try to fool you into sending them money, give them your personal information, or take your tax refund. Or all three. In response, the Federal Trade Commission has identified January 20–February…
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Inevitably, tax season comes, and with it some new form of scam to watch out for. The Internal Revenue Service recently issued an alert to taxpayers and tax professionals to be on guard against fake emails purporting to contain an IRS tax bill related to the Affordable Care Act (ACA).…
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Consejos De Ultimo Minuto Para Preparar Su Declaración De Impuestos
by Ryan Jonesby Ryan JonesSe acerca el 15 de abril y si todavía no ha seleccionado un preparador de impuestos, aquí hay algunos consejos: 1. Obtenga recomendaciones de familiares y amigos 2. Revise la historia del preparador de impuestos con la autoridad apropiada: La Junta California de Contabilidad para contadores públicos certificados y contadores…
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The April 15 tax deadline is approaching, and if you haven’t yet selected a tax preparer, here are some tips from the California Board of Accountancy to help make a wise choice. Get recommendations from family, friends, and others you trust who may have had similar tax preparation needs.…