It’s almost time to send out 1099s….What every business owner needs to know.
The 1099 rules are confusing and each year we get a number of questions about them. This Q&A provides you the basic rules you need to know for your business. Q: Do I really need to issue 1099s to my... Read More →
Are you single and own an expensive house? You may want to stay that way!
Last week, the US Circuit of Appeals changed the way we treat the mortgage interest deduction for co-borrowers of expensive houses. The mortgage interest deduction is a key tax deduction for Americans. The rules around the mortgage interest deduction are:... Read More →
New Filing Deadlines starting for Tax Year 2016 – Congress did something right!
Do you have to file an Extension each year because your K1 doesn’t come until May? Do you get confused because you have to file your Foreign Account Form in June but your Extension is good until October? It is... Read More →
Everyone in California Gets Sick Leave
If you get sick after July 1st, you will likely be eligible for paid sick leave. Thanks to the Healthy Families Act of 2014, virtually every employer in California must provide paid sick leave to their employees. Many non-benefited employees... Read More →
Add “Tax Talk” to your Wedding Checklist
Congratulations.. you are getting married! You and your fiancé were wise to take a few years to get to know each other better. You know their sleeping habits, their favorite food, and their friends. But do you know about their... Read More →
Get Paid to Save Water
My neighbors in Northern California have done an excellent job of being drought-aware and reducing water consumption — we have buckets in our showers, our plants are on a drip system, and the lawns are brown. But, when I walk... Read More →
Let the IRS pay your Moving Costs
One of my dear friends just moved from San Francisco to New York. While I was sad to see her go, I am excited that she has a fabulous deduction for 2015 — the Moving Expense deduction! The moving expense... Read More →
Think Twice.. or Maybe Three Times Before Taking Money Out Of Your IRA
Are you thinking about taking money out of your IRA to pay off those bills that keep mounting up? If so, please call your Enrolled Agent first and be sure you understand how it is going to impact your taxes.... Read More →
This week’s Tax Myths
This week’s post focuses on common tax beliefs and what the real answer is. Q: I worked for my neighbor and was paid cash under the table. Do I have to report that income? A: All income is taxable unless... Read More →
Don’t fall for the Scam
Have you received a call from “the IRS” telling you that you owe money and if you do not pay now, you will be arrested? If yes, you are not alone. The calls appear legitimate because the caller I.D. says... Read More →