Need Help? Contact Us Today!
Categories: Federal Tax
Does Prize Money get Taxed? *The following article was updated in November 2023* Lottery winnings are taxable as income at federal and state levels. The IRS applies a 24% federal tax, while California state income tax rates from 1% to 13.3% increase total taxes owed. However, the total tax liability could be higher, potentially reaching...
Categories: Federal Tax
I Owe the IRS Money and Need a Payment Plan There are few things that create more stress than owing the Internal Revenue Services (IRS) money. Unfortunately for many taxpayers, owing money on taxes is a reality of life. But what happens when you owe the IRS money, but don’t have the full amount to...
Categories: Federal Tax
I Haven’t Filed My Tax Returns and the IRS is Coming After Me For many individuals, April 15 tends to be as big of a day on the calendar as New Year’s Day or Independence Day. The national tax filing deadline means that your taxes must be filed and fees paid on or by April...
Categories: Federal Tax
Are You Aware of Changes to Your Online Sales Tax? If you’re a taxpayer and have ordered anything online – which is pretty much all of us – you need to be aware of changes in the sales tax law and how it affects you. In 2018, the United States Supreme Court ruled on a...
Categories: Federal Tax
Gig Workers Face New Federal Tax Regulations The topic of gig workers has been a frequent point of conversation of late, especially with respect to the new tax laws surrounding their way of making a living. From Uber and Lyft drivers to Etsy and Ebay sellers, gig workers have become an important part of the...
Categories: California Tax Law
How Are Bonuses Taxed In California? *The following article was updated in February 2025* There’s always something very exciting when you hear you’ll be receiving a bonus from your employer. However, that excitement can often lead to disappointment when you realize you not only have to pay taxes on the bonus, but oftentimes, it’s more...
Categories: Federal Tax
Help! What Do I Do If the IRS is Auditing Me for Underreported My Income? *The following article was updated in February 2025* Tax season is officially upon us! It’s this time of year that I often receive panicked questions from clients telling me they’re being audited by the Internal Revenue Service (IRS) because they...
Categories: Federal Tax
Eligibility for Coronavirus Tax Relief Coronavirus (COVID-19) is affecting every person, from the economy, to business, health and social practices. Tax season is also affected with filing and payment deadlines being delayed federally and in many states. The federal government has authorized monetary help in the form of the $2 trillion Coronavirus Aid, Relief, and...
Categories: California Tax Law
Coronavirus (COVID-19): How It Affects Taxes Everyone is affected by the Coronavirus (COVID-19) pandemic in this very uncertain time. From social distancing to quarantined living, our daily lives have changed for the foreseeable future. Tax season is also affected with filing and payment deadlines being delayed federally and in many states. Here’s a look at...
Categories: Federal Tax
What Happens if I Haven’t Filed a Tax Return in Years? *The following article was updated in March 2024* I had a client call yesterday who hadn’t filed a business tax return for three years, and hadn’t filed his individual tax return for three years. This becomes overwhelming to people. What do you do? What’s...
