The Pass-Through Entity Elective Tax

We have a couple of weeks remaining in 2021 for tax planning.  Whether you simply wish to anticipate the outcome of this year’s filings to prepare financially or to mitigate the taxes as much as possible, now is the time to plan. Call us now to schedule a tax planning phone or a video conference! The […]

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2021 CHILD TAX CREDIT AND ADVANCE CHILD TAX CREDIT PAYMENTS: SHOULD YOU CONSIDER OPTING OUT OF THE ADVANCE?

If you have dependent children living with you, you may have started receiving monthly payments from the IRS of either $250 or $300 per qualifying child beginning in July 2021.  These are Advance Child Tax Credit Payments (ACTCP) created by the American Plan Rescue Act that was passed on March 11, 2021.  Here are a […]

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2020 Individual (1040) and C Corp. (1120) Tax Filings – October 15th Deadline

If your 2020 individual (1040) and C Corp. (1120) tax filings are on extension, please reach out to us NOW so we can finalize by October 15th! Individual Tax Returns Tax Filing Deadline for Extensions is October 15th Individual (1040) tax returns and payments were due May 17th.  However, if your personal filings are on […]

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Request Extension Now – Individual Tax Filing Deadline is May 17th

If your 2020 personal tax filings will not be finalized by May 17th, now is the time to request an extension of time to file until October 15th. We must get your signed extension authorization by Saturday, May 15th.  Please contact Roxana@taxplus.com (Los Angeles) or Rita@taxplus.com (San Diego) for any extension requests. Please fill in […]

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Individual Tax Filing Deadline Extended to May 17th 2021

All individual taxpayers with April 15th deadlines automatically have additional time, until May 17th to file 2020 IRS and CA FTB filings and make payments without interest or penalties.  2021 Tax Updates: The IRS announced that it is moving the April 15th, 2021, filing deadline to May 17th, 2021, for individual taxpayers (including Schedule C […]

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S Corporations & LLCs taxed as S-Corp. (1120S) & Partnerships (1065) Due 3/15/21

S Corporations & LLCs taxed as S-Corp. (1120S) & Partnerships (1065)  File by March 15th or Request Extension! Dear Client, Happy March!  Amid the pandemic distractions, the March 15th tax filing deadline for S-Corp.s and Partnerships is approaching quickly.   Let’s finalize your filings if possible.  Otherwise, call or e-mail us to request an extension […]

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Changes To California Health Insurance In 2020 & 2021

There were 4 major changes to California health insurance in 2020 & 2021. Here’s what you need to know: You are now required to have health insurance in California under a state mandate even though the federal mandate was lifted in 2019. You will be assessed a California state insurance tax penalty in 2020 and […]

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City of L.A. Office of Finance Business Registration Due

los ángeles business

Final Reminder: City of L.A., Office of Finance, Business Registration is due by March 2nd, 2020. If you are doing business in Los Angeles as an independent contractor, self-employed, freelancer, sole proprietor, small business owner, partnership, fictitious business name (dba), loan-out co., LLC, or S-Corp., you must comply with the City of Los Angeles, Office of Finance […]

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Last Chance Entity Formation for ’19!

Business-Registration-Banner

Setting up a side hustle? Main hustle? It’s your last chance for entity formation this 2019. Set up your LLC, Corp., S-Corp. this November. It is now evident, that the ’18 Tax Cuts and Jobs Act (TCJA) favored corporations, small businesses, and the self-employed at the expense of employees. Corporate tax rates were slashed from 35% […]

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Minimize ’19 Taxes and Tax-Time Surprises!

With the 2018 tax filing deadlines behind us, it’s time to look ahead. Starting to look into your ’19 taxes now can help minimize tax-time surprises. One way of doing so is allowing us to help determine if your federal and state tax withholdings will be sufficient to avoid surprises or penalties for underpayment of […]

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