Our Blog

  • Stimulus and Grant Planning Help is Available!
    by TaxDoctor on April 16, 2021 at 3:51 pm

    It goes without saying that the amount of new tax rules and programs that are now in force because of the pandemic is astounding.  Preparers are stressed as the programs have come out during the active tax season so that extra time to slow down and read and comprehend just is not available, and people are stressed and want answers.   What should you do to get help and or make sure you dont miss out on programs that you can qualify for and that can help you recover or survive?  For many the answer is to file an extension!  Even though the IRS is allowing until May 17th to file, your preparers need time to read, think, run different options

  • Why Didn’t My CPA Tell Me That?
    by TaxDoctor on April 9, 2021 at 4:30 pm

    When you start tax planning with a new client, the first thing people often ask is why the accountant or CPA they are using doesn’t think or act the way you do in discussing the hunt for possible tax savings. After all, the current CPA is smart, trustworthy, running a successful accounting business and trusted in the community. So, why are you telling them all these wonderful new tax savings ideas that their CPA has never mentioned? There are many explanations, but the simplest is how the accountants themselves view the job that they do. Often, accountants think that the profession of accounting in its simplest form is the job of telling the story of money that has already come

  • Simple Tax Tips Are Sometimes the Best
    by TaxDoctor on April 2, 2021 at 3:42 pm

    People often struggle with record keeping and are often so busy that they are simply unaware of tools or services that have been developed that could greatly improve the recording and tax deductibility of expenses, miles and other useful things.  Tons of topics we could cover here, but two that are universal.  If you are in business, you have a phone and a car.  Cell phone are pretty typical for smaller companies.  What we usually see is a personal cell phone bill and of about $150-300 a month, and of course the business owner wants to deduct it all.  When you start asking questions however , almost always, it’s a family plan with spouse and kids on it, so 80%

  • More Stimulus Money on the way for many. Higher taxes on the way for many as well!
    by TaxDoctor on March 26, 2021 at 5:56 pm

    The latest round of stimulus payments, on top of the backlog left from the 2020 IRS slowdown in processing 2019 returns and the constant new tax rules coming out of the legislature, has produced a “HOT MESS” resulting in the extension of the federal income tax filing deadline for the second year in a row, this time to May 17th.   Last week we cautioned that some sates might not follow suit, so be sure to check and see whether  or not your state is following suit.  A few things are now more clear: If you have already filed and had unemployment benefits taxed, there is no need to amend your return.  The IRS will do a fix sometime this Summer

  • THE IRS HAS EXTENDED THE FEDERAL FILING DEADLINE BUT MOST STATES HAVE NOT, SO YOU MAY STILL HAVE TO FILE BY APRIL 15TH!?
    by TaxDoctor on March 19, 2021 at 3:46 pm

    Last year, 41 states that have a personal income tax postponed their April 15 filing and payment deadlines due to the fallout from the pandemic, but that hasn’t officially happened this time, at least not yet.  The IRS has moved the deadline for filing 2020 federal income tax returns from April 15 to May 17, 2021.  This will also give the tax agency, which already has a backlog of unprocessed tax returns, more time to adjust its computer systems and forms to account for tax changes made by the recently enacted American Rescue Plan Act – most notably, the $10,200 federal exemption for unemployment compensation received in 2020, that might be only federal AND NOT STATE TAX EXEMPT. Oklahoma has delayed their state

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CA Tax Planners
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CA 90245
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