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.
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
Affordable Care Act Tax Provisions - IRS.gov
Covered California - coveredca.com
Tax Scams/Consumer Alerts - IRS.gov
Common Fraud Schemes - FBI.gov
Tax arguments that have landed many in trouble - IRS.gov
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
Like-Kind Exchanges (Section 1031) - Avoiding gain tax through like-kind exchanges
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