Changes to Tax Law

Substantial changes to the tax system are currently under discussion in congress. We look forward to working with our clients to determine how the new tax law might impact your tax situation and identify actions to reduce your tax liability.

Tax Topics

Reminder

California Corporations and LLC's- Don't forget to file the annual Statement of Information. Many overlook the postcard-sized notice and allow the $25 fee to become a $250 penalty. It can be filed online with the California Secretary of State:
California Corporation Statement of Information - SOS.ca.gov
Information for California LLC Statement of Information - SOS.ca.gov


New Health Insurance Rules & Requirements

Affordable Care Act Tax Provisions - IRS.gov

healthcare.gov

Covered California - coveredca.com


Information on Frauds and Scams

Tax Scams/Consumer Alerts - IRS.gov

Common Fraud Schemes - FBI.gov

Tax arguments that have landed many in trouble - IRS.gov


A few tax topics

Dependents - Who qualifies as a dependent?

Types of IRAs

Installment Sales - Deferring income from sale of property or business to future years using the installment method.

Charitable Contributions - Substantiating charitable contributions by individuals

Medical Deductions

Like-Kind Exchanges (Section 1031) - Avoiding gain tax through like-kind exchanges


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