IRS Business Tax Account

IRS Business Tax Account

Setting up an Internal Revenue Service (IRS) Business Tax Account is a helpful way to view tax information.  It can save you time and frustration from having to wait on the phone with the IRS. Depending on the type of business you participate in, you will have access...

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New Property Taxes for Short Term Rentals in California

Self-Employed Retirement Plans

Traditional or Roth IRA An individual retirement account (IRA) is one of the simplest options with lower contribution limits. The main difference between a Traditional and a Roth IRA is how and when you get a tax break. With a Traditional IRA, you may be able to...

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Important Tax Filing Deadlines

Important Tax Filing Deadlines

A question CPA’s are commonly asked is “when is my tax return due?”  Below is a quick summary of some of the most common tax deadlines for calendar year-end filers (note, fiscal year-end filers and state income tax return filing dates may vary): January 31, 2024 -...

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When are you considered a Household Employer?

When are you considered a Household Employer?

In today’s world it is common to have domestic help; from gardeners and housekeepers to nannies and home health care assistance.  The question is, when does this situation turn into an employer and employee relationship and what are the filing requirements and...

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Does My Electric Vehicle Get a Tax Credit?

Does My Electric Vehicle Get a Tax Credit?

Recent legislation (the Inflation Reduction Act of 2022 or IRA 2022) updated the requirements related to electric vehicle purchases made after August 16, 2022. As a refresher, taxpayers may qualify for a federal income tax credit up to $7,500 for the purchase of a...

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IRS Mileage Rates for 2024

IRS Mileage Rates for 2024

The IRS has announced the 2024 standard mileage rates. These rates are for calculating the deductible costs of operating an automobile for business, charitable, medical, or moving purposes. Beginning January 1, 2024, the standard mileage rates for the use of a car...

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