You may qualify for the Advance Child Tax Credit payments that congress approved based on your 2019 or 2020 tax return data. The IRS has sent out letters to those that have been identified as possible recipients of these new
Category: Tax Update
Reminder: 2018 Tax Changes for Individuals
The Tax Cuts and Jobs Act of 2017 (TCJA) eliminated or modified numerous tax provisions starting in 2018. Here’s what individuals and families need to know as they get ready for tax season.
2018 Tax Highlights Video
Video includes key information about the TCJA tax reform changes that will affect you in the upcoming tax season. The highlights consist mostly of the individual tax changes. Start collecting your documents now, so you’re ready to file taxes and
Tax Relief for Victims of Hurricane Michael
Extended filing and payment deadlines Hurricane Michael victims in parts of Florida and elsewhere have until Feb. 28, 2019, to file certain individual and business tax returns and make certain tax payments. The tax relief postpones various tax filing and
AB 626 – Homemade Food Operations Act
Exciting news for home based food businesses with the passage of AB-626 by Governor Brown in September. The new law has now made it permissible to sell food cooked from your home effective January 1, 2019, of course there are
Meals and Entertainment Expenses per TCJA Tax Reform
The IRS has issued Notice 2018-76, that provides guidance on the business expense deduction for meals and entertainment. This is in light of the Tax Cuts and Jobs Act (TCJA), which was supposed to eliminate deductions for expenses pertaining to
California SB 274 – Administration of Taxes: Notice of Deficiency Assessment
SB 274 Governor Brown signed SB 274, which generally conforms to the new federal centralized partnership audit regime. The new regime allows the IRS to conduct audits, make adjustments and assessments, and collect tax at the partnership level (rather than
AB 2503 Lets California FTB Dissolve Inactive Companies
Governor Signs AB 2503 Governor Brown has signed AB 2503, which makes a domestic corporation and a limited liability company subject to voluntary or involuntary administrative dissolution or administrative cancellation if:
October 2018 Tax Newsletter
Disaster Relief Several recent laws affect disaster relief for taxpayers. What does that mean for you? The Tax Cuts and Jobs Act (TCJA) removes the deductions for casualty and thefts, except for losses from disasters covered by specific federal disaster declarations. On the other
Extended Individual Tax Returns Due October 15, 2018 and Other Tax Deadlines
Taxpayers who requested an extra six months to file their 2017 tax return, Monday, October 15, 2018, is the extension deadline for most taxpayers. This is also the last day to e-file a 2017 Federal Income Tax Return electronically – paper returns