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 […]
Read More + 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 […]
Read More + 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 […]
Read More + 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 […]
Read More + 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. It’s not uncommon to struggle with paying your federal taxes. I hear from individuals who, through no fault of their own, just cannot pay […]
Read More + 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 of an employee. The EDD can personally assess the business owner […]
Read More + 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. Therefore, it’s important to keep all records […]
Read More + 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 […]
Read More + Four Things to Do Now to Make Filing Taxes in 2025 a Simple Process It’s not quite the end of 2024 and tax season may seem like quite a way off. However, as a taxpayer and San Francisco business owner, there are things you can do now to prepare to file taxes in 2025. Taking […]
Read More + Taxpayers: Beware of Disaster Donation Scams Recent months have seen several natural disasters in the form of Hurricanes Helene and Milton that have devastated areas in the southern Appalachian Mountains and Florida. As if these disasters are not terrible enough, it’s become a common practice for scammers to set up fake charities to take advantage […]
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