Donating Your Vehicle to Charity May Not be a Tax-Wise Decision
You’ve probably seen or heard ads urging you to donate your car to charity. “Make a difference and receive tax savings,” one organization states. But donating a vehicle may not result in a big tax [...]
Hiring This Summer? You May Qualify for a Valuable Tax Credit.
Is your business hiring this summer? If the employees come from certain “targeted groups,” you may be eligible for the Work Opportunity Tax Credit (WOTC). This includes youth whom you bring in this summer for [...]
Your Succession Plan May Benefit from a Separation of Business and Real Estate
Like most businesses, yours probably has a variety of physical assets, such as production equipment, office furnishings and a plethora of technological devices. But the largest physical asset in your portfolio may be your real [...]
Thinking About Moving to Another State in Retirement? Don’t Forget About Taxes
When you retire, you may consider moving to another state — say, for the weather or to be closer to your loved ones. Don’t forget to factor state and local taxes into the equation. Establishing [...]
Employers: Be Aware (or Beware) of a Harsh Payroll Tax Penalty
If federal income tax and employment taxes (including Social Security) are withheld from employees’ paychecks and not handed over to the IRS, a harsh penalty can be imposed. To make matters worse, the penalty can [...]
Disabled Veterans in California Get a Tax Break
Disabled veterans in California get a tax break. The California State Board of Equalization has announced increases in the property exemption amounts and the household income limit for disabled veterans’ exemptions for 2020. For the [...]
The Chances of IRS Audit are Down But You Should Still be Prepared
The IRS just released its audit statistics for the 2018 fiscal year, and fewer taxpayers had their returns examined as compared with prior years. However, even though a small percentage of tax returns are being [...]
Tax-Smart Domestic Travel: Combining Business with Pleasure
Summer is just around the corner, so you might be thinking about getting some vacation time. If you’re self-employed or a business owner, you have a golden opportunity to combine a business trip with a [...]
It’s a Good Time to Check Your Withholding and Make Changes, if Necessary
Due to the massive changes in the Tax Cuts and Jobs Act (TCJA), the 2019 filing season resulted in surprises. Some filers who have gotten a refund in past years wound up owing money. The [...]
We’re Hiring- Staff Accountant and Controller!
Interested in joining a fun, vibrant work culture that puts people first? Want to make an impact on the community, work together as a team to solve client’s financial needs, drink copious amounts of really [...]