We live in a global society and in today’s economy, businesses are increasingly expanding their operations beyond domestic borders. This offers fantastic opportunities to companies. But it also means there are legal and tax issues that business owners may face. As a San Francisco tax attorney, one question I’m often asked is whether the Internal […]
Read More + As young professionals, you bring a wealth of knowledge and skills to the table of any non-profit organization. Your expertise — whether in accounting, law or other fields — can be instrumental in guiding nonprofit and community organizations to achieve their missions more effectively. Years ago, a colleague of mine reached out and asked me […]
Read More + Facing an IRS audit can be scary. I always advise clients to first, do not panic if you receive a notice of audit. Second, start compiling all the necessary records to prepare, such as financial statements to prepare your audit response. That being said, some San Francisco business owners may find that some crucial documents […]
Read More + “I am working with an EDD agent, how was my bank account levied?” This is a very common question taxpayers have when they reach out for advice. California state employees are overworked and most of the time underpaid. EDD audits start when the EDD sends a letter that seems very vague and inconspicuous. When you […]
Read More + One of the effects of the COVID-19 pandemic is that many people have lost their jobs due to business closures and decreased hours. As a result, these individuals will file for unemployment. And with unemployment claims, an increase of California state payroll tax audits (commonly referred to as an EDD audit) will follow. EDD audits occur […]
Read More + Have you received a notice from the Internal Revenue Service (IRS) stating that you’re being audited? You’re not alone. Many California taxpayers go through the IRS audit process at some point. The first thing to understand is how the IRS selects individuals or businesses for audits. They are both random and selective. Often times, the […]
Read More + In a recent blog post, I informed business owners that the IRS announced how businesses can withdraw their Employee Retention Credit (ERC) claims. The ERC has been at the center of growing concerns about aggressive marketing tactics and potential scams surrounding the ERC claims. The IRS has taken that a step further by mailing more […]
Read More + The California Employment Development Department (EDD) conducts California state payroll tax audits (commonly referred to as an EDD audit) when a business has classified a worker as an independent contractor instead of an employee. This means the EDD can personally assess the San Francisco business owner for “unpaid” payroll taxes because the EDD has determined […]
Read More + Being a business owner is much more than simply making sure your business run. It also includes hiring employees, making sure they’re classified correctly and paying payroll taxes. Occasionally, a business may classify its workers as independent contractors when they should have been designated as employees. The Internal Revenue Service (IRS) offers the Voluntary Classification […]
Read More + Since the start of the COVID-19 pandemic, the Internal Revenue Services (IRS) has been providing various tax credits and incentives to help struggling businesses and individuals. One of those initiatives was the Employee Retention Credit (ERC), a tax credit aimed at helping businesses retain their employees during such a challenging economic time. Recently, the ERC […]
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