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Categories: IRS
What Are the Consequences of Failing an IRS Audit? Facing an IRS audit can feel overwhelming, especially when it’s your personal or business’ financial future on the line. I receive a lot of questions from business owners and taxpayers asking me what happens if they fail an IRS audit in California. It’s common to worry...
Categories: IRS
IRS Audit Myths Debunked I can’t tell you how many times I received phone calls from clients who are worried about the IRS in one way or another. More often than not, these taxpayers and San Francisco business owners are worried about common IRS audit myths that can be easily debunked. In this post, I’ll...
Categories: California Tax Law
Tips and Deadlines: How to Avoid Late Payments to the CDTFA If you’re a California business owner, the IRS is not the only agency to which you pay taxes. The California Department of Tax and Fee Administration (CDTFA) is known for its sales tax audits. The CDTFA generally reviews retailers who sell items at a...
Categories: IRS
One of the best feelings is filing your taxes and realizing you’re entitled to a refund. The thought of money coming into your pockets is an exciting thing. However, there are a few circumstances in which the IRS may keep your refund, especially if you owe them money in back taxes. Let’s look at the...
Categories: California Tax Law
What is SDI & Is SDI Taxable in California? *The following article was updated in March 2024* If you’re a business owner in the state of California, there are several taxes and regulations that need your attention. It’s critical that you pay attention to the rules and comply with the taxing agencies, or you may...
Categories: IRS
The Fresh Start Program, established by the IRS in 2011, is legitimate but often misunderstood. It did not introduce new options for taxpayers but aimed to expand and clarify existing ones. How To Be Eligible For The IRS Fresh Start Program It’s not uncommon to struggle with paying your federal taxes. I hear from individuals...
Categories: California Tax Law
What Happens If I Don’t Respond to an EDD Audit Notice? Receiving an EDD audit notice can be scary. An EDD audit occurs when the California Employment Development Department (EDD) launches an investigation into a business’ California state payroll tax records to determine if the business has classified a worker as an independent contractor instead...
Categories: IRS
Can the IRS Audit a Dissolved Business? I’m often asked by business owners whether the IRS can audit a business once it’s closed or dissolved. Like with many tax law questions, the answer is: A business can be audited after it closes because audits, tax returns, and claims often occur after the business has dissolved....
Categories: California Tax Law
Voluntary Plan for Disability Insurance (VDPI) Starting January 1, 2024, VP employers will pay a VPDI assessment rate of 0.00154, calculated as 14 percent of the 1.1 percent DI State Plan tax rate, applied to taxable wages. When it comes to California tax returns, there are a lot of questions about what expenses are deductible...
Categories: California Tax Law
Do I Have to Pay California Income Tax If I’m Moving? Most people don’t want to pay California taxes. They end up contacting me because they are going to move to Florid, Texas or Nevada. I warn them to make sure they actually decided to relocate, move their family, move their house, move their driver’s...
