Categories: Federal Tax
Does Prize Money get Taxed? *The following article was updated in February 2022* A common question people have about taxes is whether prize money is considered taxable income. And further, whether athletes pay tax on prize money. Here’s a look at how the IRS and the state of California classify prize money when it comes...
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 2022* 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: California Tax Law
California Employment Tax Forms: What are the DE 9, DE 6, and DE 4 Forms? *The following article was updated in February 2022* When it comes to taxes in California, there’s generally a form for every withholding and business transaction. This is especially true for California businesses and employers. I’m often asked which tax forms...
Categories: IRS
Help, I’m Being Audited During a Pandemic! Receiving an audit notice from the IRS is scary. But receiving one in the midst of a global pandemic, and at a time when your business may already be feeling the effects of that, can be even more overwhelming. Here are five things to do if you find...
Categories: California Tax Law
Is Your Construction Company Facing an EDD Audit? Construction companies are just one of the many businesses facing the prospect of an EDD audits. If you’re a construction company and you’ve ever hired an independent contractor, you may want to familiarize your practice with the EDD audit. These California Employment Development Department (EDD) state payroll audits...
Categories: California Tax Law
Does California Tax Social Security? I often receive questions about social security benefits and whether it is considered taxable income, especially by the state of California. The answer is: it depends. Social security benefits are not taxable by the state of California. The amount of social security benefits you included in adjusted gross income on...
Categories: IRS
What are the Penalties for Late Payment of Payroll Taxes? I’m often asked by business owners what will happen if they are late paying payroll taxes to the Internal Revenue Service (IRS). Employers should be collecting payroll taxes for every employee (with the exception of independent contractors). They are typically calculated as a percentage of...
Categories: General Information
Mayor Appoints Allison Soares to Balboa Park Committee San Diego Mayor Todd Gloria appointed Allison Soares to the City of San Diego’s Balboa Park Committee. The Committee serves in an advisory capacity to the Mayor, the City Council and City Manager on policy issues relating to the acquisition, development, maintenance and operation of Balboa Park....
Categories: IRS
Is the IRS Keeping my Refund? 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...
Categories: IRS
Do You Have to Pay Taxes on Profit from Selling a House? I’m often asked by homeowners about potential taxes they may owe when they sell their house. Many individuals wonder if they make a profit, do they owe part of that profit to the Internal Revenue Service in the form of capital gains taxes....
