Our other articles in this series: 2019 IRS-California Tax Return, Contributions, Filing Deadline Extensions How the 2019 Coronavirus Relief Bill Helps Individuals (CARES Act) How the 2019 Coronavirus Relief Bill Helps Businesses (CARES Act) As part of the historic The Coronavirus Aid, Relief, and Economic Security (CARES) Act signed into law on March 27, 2020, […]
How the 2019 Coronavirus Relief Bill Helps Individuals (CARES Act)
Our other articles in this series: 2019 IRS-California Tax Return, Contributions, Filing Deadline Extensions All About Economic Stimulus Payments Under the CARES Act How the 2019 Coronavirus Relief Bill Helps Businesses (CARES Act) On March 27, 2020, The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law. Here are a few of […]
How the 2019 Coronavirus Relief Bill Helps Businesses (CARES Act)
Our other articles in this series: 2019 IRS-California Tax Return, Contributions, Filing Deadline Extensions All About Economic Stimulus Payments Under the CARES Act How the 2019 Coronavirus Relief Bill Helps Individuals (CARES Act) On March 27, 2020, The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law in response to the current […]
2019 IRS-California Tax Return, Contributions, Filing Deadline Extensions
Our other articles in this series: All About Economic Stimulus Payments Under the CARES Act How the 2019 Coronavirus Relief Bill Helps Individuals (CARES Act) How the 2019 Coronavirus Relief Bill Helps Businesses (CARES Act) In response to the current COVID-19 (coronavirus) pandemic crisis, the IRS (Department of Treasury) and the State of California extended […]
Charitable Contributions and the New Tax Law (2018 update)
With the passage of the 2017 Tax Cuts and Jobs Act, there has been much discussion regarding the decreased tax rates and eliminations or limits on certain deductions. But how does the new tax law affect the deductions for charitable contributions? On the one hand, the limit on cash contributions has been increased from 50% […]
Individual Mandate Repeal
With the passage of the 2017 Tax Cuts and Jobs Act, the Affordable Care Act’s (ACA) individual mandate was repealed. The individual mandate requires taxpayers to carry a minimum level of health coverage, unless they qualify for a hardship exemption. Without this coverage taxpayers will incur a tax penalty. Employer mandate Although this portion of […]
Take Stock of Your Compensation!
You have worked hard in contributing to the success of your company, and in return your company may reward you beyond your basic annual salary. Below are some of the more common forms of supplemental and incentive compensation, and how they will affect your tax liability and reporting obligations. Bonuses and commissions. Bonuses and commissions […]
Will I Really Be Able to File My Tax Return on a Postcard?
With the passage of the Tax Cuts and Jobs Act of 2017, there was a promise that for many Americans the new tax law would be so simple that they could file on a postcard. In fact, the IRS has already drafted this so-called postcard tax return, which is larger than most postcards, and will […]
How will the Tax Reform Law affect me in 2018?
In late December 2017, the Tax Cuts and Jobs Act was enacted. The most significant change for everyone is that the tax brackets have all been lowered; the highest tax rate has decreased from 39.6% to 37%. Some other significant changes for everyone, are that the standard deduction has been raised to $12,000 and $24,000 […]
2016 Individual Tax Planning Tips
As the year draws to a close, it’s time to squeeze in some tax deductions and take some actions that might save you money come April 15th. If you are looking to reduce your tax liability, here are a few yearend tax planning tips: Consider Roth conversion: If you have a traditional IRAs, consider a […]
