Gig Workers Face New Federal Tax Regulations

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...

Read More

How are Bonuses Taxed in California?

Categories: California Tax Law

How Are Bonuses Taxed In California? 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 tax than expected. In California, bonuses are taxed...

Read More

Does Prize Money get Taxed?

Categories: Federal Tax

Golfer in California.

Does Prize Money get Taxed? *The following article was updated in November 2023* A common question people have about taxes is whether prize money is considered taxable income. Tax rates on prize money, such as lottery winnings, vary significantly. Initially, the IRS automatically withholds 25% for federal taxes. Depending on your state of residence, additional...

Read More

Am I Eligible for Coronavirus Tax Relief?

Categories: Federal Tax

A pile over paper bills.

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...

Read More

How is Coronavirus (COVID-19) Effecting Your Taxes?

Categories: California Tax Law

Covid-19 news graphic

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...

Read More

What Happens if I Haven’t Filed a Tax Return in Years?

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...

Read More

I Owe the IRS Money and Need a Payment Plan

Categories: Federal Tax

Dollar payment for a plan.

I Owe the IRS Money and Need a Payment Plan *The following article was updated in March 2024* Tax season is upon us, and 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...

Read More

Are You Aware of Changes to Your Online Sales Tax?

Categories: Federal Tax

Ecommerce

Are You Aware of Changes to Your Online Sales Tax? *The following article was updated in March 2024* There’s been a change in how states are collecting sales tax from online purchases. If you’re a taxpayer and have ordered anything online – which is pretty much all of us – then you need to be...

Read More