Small Business Tax Deductions Update 2024

Which small business tax deductions have changed for 2023? To start, business meals and bonus depreciation. With the new tax season upon us, you must be up to date with Small Business Deduction changes for the 2023 tax year. Small Business Tax Deductions Update 2024 Which expenses does the IRS permit you to deduct as […]

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2024 Tax Update: Third-Party Payment Platforms and 1099-K Forms

As you may have heard, there have been some proposed changes to the tax reporting requirements for the use of third-party payment platforms, such as credit card processors, PayPal, Venmo, Cash App, Etsy, Stripe, Ebay, Amazon, VRBO, AirBnB, and other sites. As part of the American Rescue Plan Act of 2021, the Biden Administration has […]

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Important Tax Deadlines For 2024

It’s officially tax season here in the U.S. and here are some important tax deadlines for 2024. In addition, the IRS will officially start accepting 2023 e-filings on January 29, 2024. It’s not too soon to schedule your in-person or virtual tax appointment for your 2023 tax year preparation! Contact us with any questions, to review our virtual […]

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Schedule Your ’23 Tax Planning Conference 

Schedule Your ’23 Tax Planning Conference  There are a couple of months left to project your 2023 tax results and make tax-saving decisions, we recommend that you schedule your 2023 tax planning conference with us. Whether you simply wish to anticipate the outcome of this year’s tax filing results or to proactively mitigate taxes, late October […]

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The AB-150 Pass-Through Entity Elective

Using The AB-150 Pass-Through Entity Elective If you are a Qualified Taxpayer of a Qualified Entity who routinely pays more than $10,000 in state and local taxes and more than 9.3% in California Income Taxes on your K-1 income, the Pass-Through Entity Elective Tax may be an effective tax mitigation strategy for you. In July […]

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ALL EXTENDED 2022 TAX FILINGS DUE 10/16/23

ALL EXTENDED 2022 TAX FILINGS DUE 10/16/23! Eight weeks remaining! Due to the severe storm damage earlier in the year throughout CA, for those affected by the flooding, many counties were covered by a federal emergency declaration and received additional time to file and pay taxes. That extension ends on 10/16/23. There are no further […]

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Individual Filings, Single Member LLC, C-Corporation Filings Due April 18, 2023

Individual Filings (1040), Single Member LLC (1040), and C-Corporation Filings (1120) are due April 18th unless you request an extension before the due date or you qualify for an automatic extension. For those of you still working on filing taxes, if you reside outside of California, Alabama, or Georgia please reach out to us to […]

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2022 S-Corporations, LLCs taxed as S-Corp. (1120S) Partnership Tax Filings (1065) Due March 15th, 2023

S-Corporations, LLCs taxed as S-Corp. (1120S), or Partnership Tax Filings (1065): Extend by March 15th Unless You Qualify for Automatic Extension! *There is an automatic extension if you live or work in a state and county which has been declared a federal emergency. Spring is just around the corner, although you wouldn’t guess from our […]

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